The Enforcement Directorate has told a Delhi courtroom that a National Herald case filed against senior Congress leaders Sonia Gandhi and Rahul Gandhi. On May 2, notices issued to the accused, including Young Indian.
The National Herald case is an ongoing research concerning allegations of financial irregularities, money laundering, and related offences against Sonia Gandhi, her son Rahul Gandhi, and other Congress leaders. The case originated from a private grievance filed in 2012 by BJP chief Subramanian Swamy in a Delhi courtroom.
The Enforcement Directorate (ED) intensified its money laundering probe in November 2023. It attach belongings worth Rs 751.9 crore connected to AJL and YIL.
National Herald case against Sonia Gandhi
Swamy accused Sonia and Rahul Gandhi of cheating, legal misappropriation, and breach of trust in the purchase of Associated Journals Limited (AJL) by Young Indian Limited (YIL). The National Herald newspaper founded in 1938 by Jawaharlal Nehru and others to assist India’s independence movement. The newspaper posted through Associated Journals Limited (AJL), a not-for-profit organisation established in 1937, that also published Qaumi Awaz (Urdu) and Navjeevan (Hindi).
In 2008, AJL ceased publication of the National Herald and its publications due to economic difficulties, including big debt.
AICC Loan of 90.25 crore
In November 2010, Young Indian Limited (YIL), a not-for-profit organisation, incorporated with Sonia Gandhi and Rahul Gandhi as majority shareholders, each having 38% of the stocks (total 76%). The paid-up capital of YIL became Rs 5 lakh.
AJL owed Rs 90.25 crore to AICC as a interest free loan to maintain its operations. In 2010, the AICC assigned this loan to YIL for Rs 50 lakh. AJL issued 9.02 crore equity shares to YIL, making YIL the majority shareholder with 99% ownership of AJL.
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