Investigation Agency Confiscates Assets Valued at Rs 752 Crore from Company Associated with Gandhis

Investigation Agency Confiscates Assets Valued at Rs 752 Crore from Company Associated with Gandhis

The Enforcement Directorate (ED) has seized assets worth Rs 752 crore belonging to Young Indian, a company linked to Congress leaders Rahul Gandhi and Sonia Gandhi, in connection with the National Herald case. The attached properties include the National Herald Houses in Delhi and Mumbai, as well as Nehru Bhavan in Lucknow. Sources have stated that the total value of properties seized from Associated Journals is Rs 752 crore.

The ED is currently investigating an alleged money laundering case related to the National Herald newspaper. In a statement on X (formerly Twitter), the ED announced that it has issued an order to provisionally attach properties worth Rs 751.9 crore in connection with the money laundering case under the Prevention of Money Laundering Act, 2002. The investigation has revealed that Associated Journals Ltd. (AJL) possesses proceeds of crime in the form of immovable properties worth Rs 661.69 crore, while Young Indian (YI) possesses proceeds of crime worth Rs 90.21 crore in the form of investment in equity shares of AJL.

Following the news of the attachment of AJL properties by the ED, Congress spokesperson Abhishek Singhvi posted on X, accusing the agency of attempting to divert attention from the ongoing elections in each state. The Congress has consistently alleged that the central probe agencies are being misused by the government for political vendetta and has maintained that there is no evidence of money laundering or any financial wrongdoing.

The case revolves around allegations of cheating, conspiracy, and criminal breach of trust in the acquisition of Associated Journals Limited by Young Indian Pvt Ltd. The Congress has reiterated its claim that the central probe agencies are being used for political purposes and that there is no substantiated evidence of any money laundering or illicit financial transactions.

The ED’s actions have sparked a political debate, with the Congress alleging that the government is resorting to tactics to undermine the party ahead of the elections. The investigation into the National Herald case continues, as both sides stand firm on their positions.