In a significant development, the Enforcement Directorate (ED) has issued formal notices to take possession of immovable assets valued at ₹661 crore in connection with the ongoing National Herald money laundering investigation. The assets, which were previously attached by the ED, belong to the Congress-associated Associated Journals Limited (AJL) and its parent company, Young Indian Private Limited.
The case, which prominently involves senior Congress figures Sonia Gandhi and Rahul Gandhi, has seen accelerated action from the federal agency. According to the ED, the notices were posted at three prime locations on Friday: Herald House in Delhi’s ITO area, AJL’s building in Lucknow’s Bisheshwar Nath Road, and a property in Mumbai’s Bandra locality. While the notices demand vacating the premises in Delhi and Lucknow, the Mumbai property offers an alternative option—payment of rent directly to the ED.
Enforcement Action Under PMLA Intensifies
The ED’s move comes under Section 8 and Rule 5(1) of the Prevention of Money Laundering Act (PMLA), which authorises the agency to seize properties once attachments are confirmed by the adjudicating authority. These particular assets were initially attached in November 2023 as part of a wider investigation into alleged financial misconduct.
The case against AJL and Young Indian accuses them of utilising these properties to generate illicit funds through fake donations estimated at ₹18 crore, fabricated advance rents worth ₹38 crore, and bogus advertisements totalling ₹29 crore. These claims paint a picture of a calculated strategy to funnel money through unlawful channels, further intensifying scrutiny on the entities involved.
Young Indian Private Limited, which owns AJL, is primarily controlled by Congress leaders Sonia Gandhi and Rahul Gandhi, who each hold a 38% stake in the company. The controversy dates back to a complaint by BJP leader Subramanian Swamy, who alleged criminal misappropriation in the transfer of AJL’s assets to Young Indian in 2010. At the time, the assets in question were reportedly valued at over ₹5,000 crore.
Public attention has sharply focused on the case, given the political significance and the high-profile personalities involved. While the ED continues its probe, legal experts anticipate further court battles over the validity and implications of the asset seizure.
The Enforcement Directorate, in its latest statement, reiterated its commitment to follow due process under the law, signalling that more aggressive actions could follow if compliance is not met. Meanwhile, the political ramifications of this enforcement are expected to ripple through the corridors of power, as the case remains a major flashpoint in the ongoing tussle between the ruling party and the opposition.
