The Enforcement Directorate (ED) has initiated formal proceedings to take possession of assets linked to Congress leaders Sonia Gandhi and Rahul Gandhi in the ongoing National Herald money laundering case. This action follows the confirmation of a provisional attachment of properties by the Adjudicating Authority on April 10.
The case relates to a complaint made in 2014 by Subramanian Swamy alleging that Young Indian Limited (YIL), which was held by Sonia and Rahul Gandhi, had illegally acquired the assets of Associated Journals Limited (AJL), which used to own the National Herald newspaper. According to Swamy and ED’s investigation, AJL’s properties, valued at over ₹2,000 crore, were acquired by YIL for just ₹50 lakh.
On April 11, the ED issued notices to property registrars in Delhi, Mumbai, and Lucknow to begin the process of taking control of AJL’s assets, now held by Young Indian. These consist of immovable assets valued at ₹661 crore, and AJL shares valued at ₹90.2 crore.
The ED charges that this purchase involved money laundering to the extent of ₹988 crore, as part of a larger conspiracy involving intricate political and financial webs. The agency claims that illicit funds were generated through bogus donations (₹18 crore), advance rent (₹38 crore), and inflated advertisement revenues (₹29 crore).
A separate notice was also sent to Jindal South West Projects, the current tenant occupying three floors in Herald House, Mumbai. The company has been directed to make future rent payments directly to the ED, in essence depriving the accused individuals of financial proceeds.
Despite Congress party-initiated judicial appeals, courts have permitted the investigation to proceed. Since officially initiating the probe in 2021, the ED has conducted several searches and seizures, claiming to produce fresh evidence of financial irregularities.
The move is meant to halt continued use or sale of what the ED calls “tainted assets,” and is a significant milestone in one of the country’s biggest political investigations.