ED moves to attach ₹751 crore assets in National Herald case

ED'S PROBE UNDER PMLA IS BASED ON AN INCOME TAX DEPARTMENT PROBE THAT WAS FINISHED IN 2017

- Neeraj Chauhan

The Enforcement Directorate (ED) on Tuesday said it has provisionally attached assets worth ₹752 crore in connection with its ongoing money laundering probe into the National Herald newspaper associated with the Congress party.

The immovable properties worth ₹661.69 crore attached under provisions of the Prevention of Money Laundering Act (PMLA) include the National Herald House in Delhi, the Nehru Bhawan in Lucknow and the National Herald office in Mumbai, all owned by the Associated Journals Limited (AJL), which publishes National Herald.

The National Herald is published by AJL and owned by Young Indian (YI) Private Limited. Congress leaders Sonia Gandhi and Rahul Gandhi are majority shareholders of YI, holding 76% shares in all.

ED is probing allegations of irregularities in transactions involving AJL and YI.

“ED has issued an order to provisionally attach properties worth ₹751.9 crore in a money-laundering case investigated under PMLA. Investigation revealed that AJL is in possession of proceeds of crime in the form of immovable properties spread across many cities of India such as Delhi, Mumbai and Lucknow to the tune of ₹661.69 crore and Young Indian is in possession of proceeds of crime to the tune of ₹90.21 crore in the form of investment in equity shares of AJL,” the agency said in a statement.

Among other cities where immovable properties of AJL were attached include Indore, Patna and Panchkula, people familiar with the development said.

The Congress described the development as vendetta carried out by the Bharatiya Janata Party (BJP) in the middle of five-state elections.