ED To Take Possession of Immovable Assets Worth Rs 661 crore In Congress-Linked National Herald Case

National Herald case: In the ongoing money laundering probe against Associated Journals Limited (AJL), the Enforcement Directorate (ED) on Saturday announced that it has issued possession notices for immovable assets worth Rs 661 crore, previously attached in the case.

The ED said that the notices were served at three key AJL premises Herald House at ITO in Delhi, a building in Bandra, Mumbai, and another property on Bisheshwar Nath Road in Lucknow. 

These notices, which direct the vacation of premises, were affixed at the properties on Friday.

The seizure process has been initiated under Section 8 and Rule 5(1) of the Prevention of Money Laundering Act (PMLA). 

According to ED, the properties were provisionally attached in November 2023 following “extensive investigation” that exposed the generation, possession, and use of proceeds of crime amounting to Rs 988 crore.

The attachment, which also included shares worth Rs 90.2 crore, was confirmed by the Adjudicating Authority on April 10, 2024.

‘To Prevent Dissipation of Crime Proceeds’

A statement from the ED said, “These properties were attached after extensive investigation by ED which revealed significant generation, possession and use of proceeds of crime... To secure the proceeds of crime and to prevent the accused from dissipating the same, the immovable properties... were attached.”

The roots of the investigation date back to a 2014 order by the Metropolitan Magistrate at Patiala House Courts, which took cognizance of a private complaint filed by BJP leader Subramanian Swamy . The ED began its probe in 2021 based on that judicial directive.

Swamy’s complaint alleged a criminal conspiracy involving top Congress leaders, including Sonia Gandhi and Rahul Gandhi , and accused them of orchestrating a fraudulent takeover of AJL assets via a private entity, Young Indian Pvt Ltd.