The Enforcement Directorate (ED) has filed a chargesheet in the National Herald money laundering case, accusing Congress leaders Sonia Gandhi and Rahul Gandhi of orchestrating a “criminal conspiracy” to acquire properties worth Rs2,000 crore belonging to the Associated Journals Ltd (AJL), the publisher of the now-defunct National Herald newspaper.
According to the ED, 99% of AJL’s shares were transferred to Young Indian, a private firm controlled by the Gandhis, for just ₹50 lakh. The ED has described this as a fraudulent transaction designed to “usurp” valuable assets, which were originally meant for the public.
ED Names Sonia Gandhi and Rahul Gandhi as Prime Accused
In the chargesheet, Sonia Gandhi has been named as Accused No. 1 and Rahul Gandhi as Accused No. 2. Other accused include Congress leaders Sam Pitroda and Suman Dubey. The case is based on a 2013 petition filed by former minister Subramanian Swamy, which led to a trial court permitting the Income Tax Department to investigate the matter and assess tax liabilities.
Also Read: National Herald case: Sonia, Rahul Gandhi, Sam Pitroda named in ED chargesheet
The special court is scheduled to take cognisance of the chargesheet on April 25. If the court proceeds with the charges, the accused could face punishment under Section 4 of the Prevention of Money Laundering Act (PMLA), which carries a maximum sentence of seven years imprisonment.
Properties Worth ₹5,000 Crore Now, ED Says
Sources told PTI that the current market value of the assets allegedly acquired through the conspiracy is now estimated at Rs. 5,000 crore. The ED has identified proceeds of crime at ₹988 crore, reflecting the scale of the alleged money laundering.
Details of the ED Chargesheet
According to the chargesheet, a criminal conspiracy was hatched by principal officers of AJL, Young Indian, and senior Congress leaders to gain control of AJL’s assets. These assets were transferred to Young Indian, a company where Sonia and Rahul Gandhi hold a 76% stake. The remaining 24% was held by the late Motilal Vora and Oscar Fernandes.
The ED said that an outstanding loan of ₹90.21 crore, which the Congress party had provided to AJL, was converted into ₹9.02 crore worth of equity shares. These shares were later transferred to Young Indian for a mere ₹50 lakh, allegedly making Sonia and Rahul the “beneficial owners” of AJL’s vast property portfolio.
Moreover, the chargesheet points out that Young Indian, although registered as a not-for-profit company under Section 25 of the Companies Act, carried out no charitable activity, as per the ED’s findings.
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