New Delhi: The Enforcement Directorate (ED) has informed a Delhi court that Congress leaders Sonia Gandhi and Rahul Gandhi enjoyed Rs 142 crore as “proceeds of crime” linked to the National Herald money laundering case. The ED’s submission came during proceedings on Wednesday, with Additional Solicitor General S.V. Raju representing the agency.
ASG Raju stated that the accused benefited from these proceeds not only when they initially acquired the assets but also continued to hold them until the ED attached related properties in November 2023. The agency argued that this constituted money laundering under the Prevention of Money Laundering Act (PMLA).
Along with the Gandhis, Congress Overseas Chief Sam Pitroda, Suman Dubey, and others have been named in the charge sheet filed by the ED, which values the alleged proceeds of crime at Rs 988 crore. The case alleges that the Congress leadership misappropriated property belonging to Associated Journals Limited (AJL), the original publisher of the National Herald newspaper, by converting public trusts into personal assets.
Following the ED’s opening arguments, Special Judge Vishal Gogne of the Rouse Avenue Courts ordered the case to proceed on a day-to-day basis from July 2 to July 8, during which submissions will be made by the Central agency and the accused. The court also directed the ED to provide a copy of the prosecution complaint to BJP leader Subramanian Swamy, whose private complaint initiated the money laundering probe.
In an earlier hearing on May 2, the court had asked the Gandhis and others to show cause why cognizance should not be taken against them based on the ED’s charge sheet.
The National Herald, established in 1938 by Jawaharlal Nehru and other prominent Congress leaders, served as a liberal voice during India’s freedom struggle and early years of independence. Published by AJL, the newspaper also had Hindi and Urdu editions but ceased operations in 2008 due to mounting debts exceeding Rs 90 crore.
The controversy over the National Herald’s assets began in 2012 when BJP leader Subramanian Swamy filed a complaint alleging cheating and breach of trust by Congress leaders in the acquisition of AJL. The complaint claimed that Young Indian Ltd, a company majority-owned by Sonia and Rahul Gandhi, acquired control over AJL’s valuable assets through what Swamy described as a “malicious” takeover intended to benefit the party leadership personally.
During the investigation, the ED found that Young Indian acquired AJL’s assets at a nominal price of Rs 50 lakh while undervaluing their market worth. In November 2023, the agency attached immovable properties worth Rs 661 crore and AJL shares valued at Rs 90.2 crore, labelling them as suspected proceeds of crime.
The ongoing trial marks a significant chapter in one of India’s high-profile money laundering cases involving senior political figures and the fate of a historically significant newspaper’s assets.
With IANS inputs