New Delhi, April 16 (HS): Congress has condemned the recent Enforcement Directorate (ED) action against the Gandhi family in the National Herald case as politically motivated and illegal, attributing it to the BJP government. Senior party leaders Abhishek Manu Singhvi and Jairam Ramesh, during a press conference at Congress headquarters, asserted that no money laundering occurred. They accused the BJP of attempting to distract from pressing national issues. Singhvi clarified that Associate Journal Limited (AJL), which publishes National Herald, faced financial difficulties, prompting Congress to lend approximately ₹90 crore to assist in resolving its debts.

To address these debts, AJL was restructured into a debt-free entity, shifting the ₹90 crore liability to a newly established company, Young India Limited. This transfer was merely a paper transaction, changing the debt’s ownership but not involving any actual money transfer or property transactions. Young India was created as a not-for-profit under Section 8, with shareholders including Sonia and Rahul Gandhi, and directors such as Sam Pitroda and Oscar Fernandes. Singhvi emphasized that this restructuring converted debt into equity, with Young India acquiring 90-99% of AJL’s shares without actual financial transactions.

Critiquing the allegations of money laundering, Congress leaders posed questions about the supposed misconduct, arguing that no actual money was exchanged or assets sold. They highlighted that AJL retains ownership of its assets, with Young India’s directors prohibited from receiving dividends, thus challenging the legality of the allegations against them. They questioned the evidence for the purported money laundering, asserting that no financial wrongdoing occurred.

Hindusthan Samachar / Jun Sarkar