ED moves to seize assets in Congress-linked AJL case

The Enforcement Directorate (ED) has issued notices to take possession of immovable assets worth ₹661 crore in connection with the money laundering case involving Associated Journals Limited (AJL), a company linked to the Congress party. These assets include prominent properties such as the Herald House in Delhi, premises in Mumbai’s Bandra area, and a building in Lucknow. The ED’s action follows its investigation under the Prevention of Money Laundering Act (PMLA), 2002.

The properties were initially attached by the ED in November 2023 as part of its probe into alleged financial irregularities involving AJL and Young Indian Private Limited, a company in which Congress leaders Sonia Gandhi and Rahul Gandhi hold significant stakes. The ED alleges that AJL properties were used to generate proceeds of crime through bogus donations amounting to ₹18 crore, fake advance rent of ₹38 crore, and fabricated advertisements worth ₹29 crore.

The notices, affixed at the respective properties, direct occupants to vacate the premises or transfer rent proceeds to the ED. The action is being carried out under Section 8 and Rule 5(1) of the PMLA, which outlines the procedure for taking possession of attached assets confirmed by the adjudicating authority.

The ED’s investigation revealed that Young Indian acquired AJL properties valued at ₹2,000 crore for a mere ₹50 lakh, significantly undervaluing the assets. The agency claims that this acquisition was part of a larger conspiracy involving prominent Congress leaders to launder money and generate further proceeds of crime.

This development marks a significant escalation in the National Herald case, which has been a subject of political and legal contention. The ED’s move to seize these assets underscores its commitment to addressing financial crimes and ensuring accountability.