Government authorities have moved forward with seizing key properties linked to a high-profile financial investigation involving Associated Journals Limited (AJL), the publisher of *National Herald*, as announced Saturday by the Enforcement Directorate (ED).
Notices authorizing the takeover of assets valued at approximately Rs 661 crore were posted Friday at locations including Herald House in Delhi, a property in Bandra, Mumbai, and the AJL building on Bisheshwar Nath Road in Lucknow. This action is being pursued under provisions of the Prevention of Money Laundering Act (PMLA).
The ED, tasked with investigating financial crimes, initially attached these properties back in November 2023. According to a statement released by the agency:
“These assets were secured following an extensive investigation that revealed substantial generation, possession, and utilization of illicit funds amounting to Rs 988 crore. To safeguard these proceeds and prevent their dispersal by those implicated, the ED issued a provisional attachment order on November 20, 2023, for AJL’s properties in Delhi, Mumbai, and Lucknow—valued at Rs 661 crore—along with AJL shares valued at Rs 90.2 crore. This action has since been confirmed by the Adjudicating Authority on April 10, 2024.”
The investigation, which began in 2021, stemmed from a court order issued in 2014 following a private complaint filed by Subramanian Swamy, a member of the BJP. The allegations center around a purported criminal conspiracy involving several prominent figures within the Congress party, including Sonia and Rahul Gandhi, alongside Young Indian Private Limited.
Key details regarding ownership:
- Associated Journals Limited (AJL) publishes *National Herald*.
- Young Indian Private Limited owns AJL.
- Sonia and Rahul Gandhi are the majority shareholders of Young Indian, each holding 38% of the shares.
The complaint alleges that these individuals and the company were involved in a money laundering scheme resulting in the unlawful acquisition of properties initially valued at over Rs 2000 crore belonging to AJL.
