ED attaches ₹751 crore in National Herald Case, unraveling alleged financial irregularities

In a recent development concerning the ongoing investigation into the affairs of the Congress-run National Herald newspaper, the Enforcement Directorate (ED) has attached assets valued at ₹751 crore. The assets are linked to the newspaper's publisher, Associated Journals Limited (AJL), and its holding company, Young Indian Limited (YIL). Immovable assets, including the National Herald's office in Delhi's ITO, Nehru Bhawan in Lucknow's Kaiserbagh, and Herald House in Mumbai, have been seized by the ED.

Proceeds of crime and asset details

The ED states that AJL possesses proceeds of crime in the form of immovable properties, amounting to ₹661.69 crore across cities like Delhi, Mumbai, and Lucknow. Additionally, YIL is reported to have proceeds of crime totaling ₹90.21 crore in the form of investments in equity shares of AJL.

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The National Herald, established and edited by Jawaharlal Nehru, suspended operations in 2008 due to an alleged unpaid debt of over ₹90 crore. The case, initiated by a complaint filed by BJP leader Subramanian Swamy in 2012, accuses Congress leaders Rahul Gandhi and Sonia Gandhi of criminal misappropriation of funds and setting up YIL in 2010 to buy AJL's debt with party funds.

Congress responds and alleges political vendetta

The Congress party contends that YIL was formed for charitable purposes, not profit, and labels the investigation as political vendetta orchestrated by the BJP. The party challenges the allegations, describing the case as a "strange case of alleged money laundering without any money."

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