National Herald case: ED begins process to seize assets worth Rs 700cr tied to Congress

NEW DELHI: The Enforcement Directorate (ED) on Saturday said it has begun proceedings to take possession of properties worth over Rs 700 crore belonging to Associated Journals Limited (AJL) in National Herald case, a company linked to Congress leaders Sonia Gandhi and Rahul Gandhi .

The assets include prime properties located in Delhi, Mumbai, and Lucknow — among them, the iconic Herald House on Bahadur Shah Zafar Marg in the national capital.

The ED stated that the move is part of its action in the AJL money laundering case, undertaken in accordance with Section 8 of the Prevention of Money Laundering Act ( PMLA ), 2002 and the relevant rules under the Prevention of Money Laundering (Taking Possession of Attached or Frozen Properties) Rules, 2013.

The ED had attached the immovable properties in question back in November 2023 as part of its ongoing money laundering investigation involving AJL and Young Indian.

AJL, which publishes the National Herald, is owned by Young Indian Private Limited — a company in which Congress leaders Sonia Gandhi and Rahul Gandhi each hold a 38% stake, making them the majority shareholders.

"Young Indian and AJL properties were used for generation of further proceeds of crime in the form of bogus donations to the tune of Rs 18 crore, bogus advance rent to the tune of Rs 38 crore and bogus advertisements of Rs 29 crore," the ED alleged.