Rs 988 Crore ‘National Herald’ Money Laundering Trail: Fresh FIR Against Sonia and Rahul Gandhi
Delhi Police’s Economic Offences Wing registered a fresh FIR against Sonia Gandhi, Rahul Gandhi and others after the ED alleged a Rs 988 crore money laundering conspiracy in the National Herald case
Delhi Police EOW filed an FIR against Sonia Gandhi, Rahul Gandhi and senior Congress leaders following the ED’s allegations of a Rs 988 crore National Herald money laundering scheme
The Delhi Police’s Economic Offences Wing has registered a fresh FIR against Congress leaders Sonia Gandhi and Rahul Gandhi, acting on a detailed complaint from the Enforcement Directorate that alleges a criminal conspiracy and a Rs 988 crore money laundering scheme in the National Herald matter.
The chargesheet names several senior Congress leaders, including Sam Pitroda, Suman Dubey, and others, under the Prevention of Money Laundering Act (PMLA).
The FIR is based on findings from an extensive investigation under the Prevention of Money Laundering Act. The ED has alleged that the Gandhis and other office-bearers engineered a plan, through Young Indian Pvt Ltd, to acquire Associated Journals Limited; the publisher of the National Herald, and its real estate assets valued at over Rs 2000 crore for just Rs 50 lakh. Sonia Gandhi and Rahul Gandhi collectively hold 76 percent shares in Young Indian, which the ED says made them the ultimate beneficiaries.
According to the complaint, the alleged conspiracy began in 2010 when the All India Congress Committee assigned its right to recover a loan of Rs 90.21 crore from AJL to Young Indian for Rs 50 lakh. AJL thereafter converted this entire outstanding loan into equity by issuing more than 9 crore shares to Young Indian. This resulted in Young Indian acquiring 99 percent control over AJL and its properties.
The agency has also cited additional alleged irregularities: the collection of Rs 18.12 crore in bogus donations to meet a tax demand, the creation of Rs 38.41 crore in fake advance rent receipts without actual rental agreements, and doubts over the genuineness of Rs 29.45 crore in advertising revenue claimed by AJL’s publications.
The ED has quantified the total proceeds of crime at Rs 988.03 crore. This includes the value of AJL shares (Rs 90.21 crore), underlying properties (Rs 755.15 crore), and rental income accrued since the takeover (Rs 142.67 crore). Properties worth Rs 751.91 crore have already been attached.
The case originated from a private complaint filed by Subramanian Swamy in 2013. A Metropolitan Magistrate took cognisance in 2014, and the order was later upheld by both the Delhi High Court and the Supreme Court. Following its investigation, the ED shared its findings with the Delhi Police EOW as required under the PMLA framework, prompting the registration of the present FIR for criminal conspiracy, cheating, and criminal breach of trust.
In a related news, on November 29, the Delhi's Rouse Avenue Court postponed its decision on whether to take cognisance of the Enforcement Directorate’s chargesheet in the National Herald money-laundering case, extending the wait in the politically significant matter. The Court has deferred the pronouncement of his order to December 16.
On November 7, the Court had reserved its order on the ED's chargesheet in the National Herald money laundering case, in which Congress leaders Sonia Gandhi and Rahul Gandhi are among the accused. “Further submissions and clarifications have been advanced by the Additional Solicitor General on behalf of the ED in light of the inspection of the case files by the court. List for orders on November 29,” the judge had said.
It is to be noted that on July 12, the ED had told the Delhi Court that Young Indian Ltd was used as a vehicle for money laundering and alleged that contributing funds to the company was linked to securing Congress party tickets to contest elections. On July 8, the ED had accused top Congress leaders, including Sonia Gandhi and Rahul Gandhi, of criminal breach of trust and money laundering, alleging that the takeover of Associated Journals Limited (AJL) by Young Indian was a fraudulent transaction designed to usurp assets worth over Rs. 2,000 crore.
[Inputs: FPJ]