Sun. Mar 3rd, 2024

Congress-Associated Firms Are Shocked by ED: ₹752 Crore Properties Linked

By waytoinfo.com Nov 22, 2023
Congress-Associated Firms Are Shocked by ED: ₹752 Crore Properties LinkedCongress-Associated Firms Are Shocked by ED: ₹752 Crore Properties Linked

Congress: In connection with the money-laundering case against the Congress party’s Young Indian, who runs the National Herald Newspaper, the Enforcement Directorate attached properties valued at ₹751.9 crore.

By the Prevention of Money Laundering Act, a provisional order was issued against the newspaper’s publisher, Associated Journals Ltd., and its parent company, Young India, according to a statement made by the ED.

According to ED findings, Associated Journals Ltd owns proceeds of crime in the form of immovable properties worth up to ₹661.69 crore that are spread throughout Delhi, Lucknow, and Mumbai.

The Enforcement Directorate has previously questioned Congress leaders Sonia Gandhi and Rahul Gandhi.

What Is the National Herald Case

Following a complaint in 2014, the ED began investigating the money laundering case. It is about Young India Ltd purchasing Associated Journals, which was founded in 1937 by independence fighters and published in the National Herald Newspaper. AJL ceased publication of the newspapers on April 2, 2008. By the end of 2010, AJL owed the Congress Rs 90.21 crores in debt.

Two directors, Suman Dubey and Satyan Gangaram Pitroda (Sam Pitroda), filed a new business, Young Indian, on November 23, 2010.

Rahul Gandhi was also named a director of the corporation on December 13, 2010. The All India Congress Committee (AICC) agreed a few days later to transfer all of the AJL debts to the newly formed Young Indian. Sonia Gandhi took over as director of Young India in January 2011; at the time, Sonia and Rahul Gandhi each owned 36% of the company.

The Income Tax assessment claims that by simply playing 50 lakhs, the Gandhi family-owned Young Indian gained complete control over the AJL real estate holdings valued at hundreds of crores.

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