New Delhi, May 21 (H.S.): The Delhi Court will hold daily hearings from July 2-8 regarding the Enforcement Directorate’s (ED) money laundering complaint in the National Herald case, which allegedly involves Congress leaders Rahul Gandhi and Sonia Gandhi. On Wednesday, Special Judge Vishal Gogne permitted a copy of the complaint to be provided to the complainant, BJP leader Subramanian Swamy. While the proposed accused requested an adjournment to review the extensive records, the ED opposed this request.
The court heard preliminary submissions from the ED, indicating its intention to continue with the hearings from July 2-8. The Additional Solicitor General (ASG), SV Raju, represented the ED and initiated the opening statements. Advocate Zoheb Hossain, also representing the ED, elaborated that the case involves a criminal conspiracy linked to three entities: Associated Journals Limited (AJL), Young Indian, and the All India Congress Committee (AICC). Hossain presented a timeline of events, mentioning that in 2010, AJL had 1,057 equity shareholders and that an extraordinary general meeting was convened to increase the authorized share capital in favor of Young Indian, resulting in Sonia and Rahul Gandhi becoming shareholders.
During the proceedings, the court probed the allegations, asking for clarification on property ownership, specifically questioning whether the properties in question belonged to Young Indian or AJL. The court posed a fundamental inquiry about the nature of property transfer and its implications, asking if the confiscation of property from one entity by another constitutes proceeds of crime for the latter. This line of questioning suggests the court’s focus on clarifying ownership and the legality of the transactions in question.
Hossain stated he would return with responses to the court’s inquiries, emphasizing that in instances of fraud, the court has the authority to investigate the actual beneficial owners, as permitted by the Prevention of Money Laundering Act (PMLA). The Enforcement Directorate (ED) has filed a new prosecution complaint against Congress leaders Rahul Gandhi and Sonia Gandhi under provisions of the PMLA, specifically sections 44 and 45, for alleged money laundering offenses.
The case revolves around the acquisition of Associated Journals Limited (AJL), known for publishing the now-closed National Herald newspaper. In 2010, Young Indian Pvt Ltd (YIL) purchased AJL’s debts from the Indian National Congress for ₹50 lakh, subsequently acquiring control over AJL’s assets valued at more than ₹2,000 crore. Sonia and Rahul Gandhi hold a majority interest in YIL, prompting allegations that they misused party funds to secure valuable properties owned by AJL.
The ED’s investigation commenced in 2014 and scrutinizes the financial dealings among the Congress party, AJL, and YIL. The agency claims the Gandhis and other Congress officials were involved in a scheme to wrongfully appropriate AJL’s assets for their benefit. Recently, the ED has sought to seize properties associated with AJL, which are estimated to be worth around ₹661 crore, reinforcing their actions under the framework of the Prevention of Money Laundering Act (PMLA). This ongoing investigation highlights significant concerns about political leaders’ financial conduct and the legal ramifications ensuing from alleged misconduct.
Hindusthan Samachar / Jun Sarkar
