&w=3840&q=100)
National Herald case: AICC attempted to revive AJL, Cheema tells court
Press Trust of India New Delhi
Senior advocate R S Cheema, representing Congress leader Rahul Gandhi, on Saturday argued that the AICC was not trying to sell the assets of Associated Journals Limited (AJL), but rather attempting to save the institution, which was part of the freedom movement.
Cheema began his rebuttal before Special Judge Vishal Gogne.
The Enforcement Directorate (ED) has accused Sonia and Rahul Gandhi, late Congress leaders Motilal Vora and Oscar Fernandes, as well as Suman Dubey, Sam Pitroda, and a private company, Young Indian, of conspiracy and money laundering over the fraudulent takeover of properties valued at over ₹2,000 crore belonging to Associated Journals Limited (AJL), which published the National Herald newspaper.
"Can my friend (ED counsel) tell me why they were shy of placing the Memorandum of Association (MoA) of AJL. AJL was established in 1937 by Jawaharlal Nehru, J. B. Kripalani, Rafi Ahmed Kidwai, and others.
"The AJL MoA said that the policy of AJL will be the policy of the INC. All through, AJL did not have profits. In the post-independence period, it was never a commercial institution. We (All India Congress Committee) were trying to retrieve an institution which is part of the freedom movement heritage. The problem was not recovering the loan (given to AJL); the problem was to revive it, to see that it comes back on the rails. AICC was not looking for profit from sales. This is a squinted version," Cheema said.
The ED alleges the Gandhis held a majority 76 percent share in Young Indian, which fraudulently usurped the assets of AJL in exchange for a ₹90 crore loan.
Earlier, on Friday, senior advocate Abhishek Manu Singhvi concluded his arguments on behalf of Sonia Gandhi.
On July 3, Raju argued on the point of the chargesheet's cognisance, saying the Gandhis were the "beneficial owners" of Young Indian and acquired total control after the death of other shareholders.
The ED filed its chargesheet against the Gandhis and others under Sections 3 (money laundering) and 4 (punishment for money laundering) of the Prevention of Money Laundering Act (PMLA).
The chargesheet also names Dubey, Pitroda, Sunil Bhandari, Young Indian, and Dotex Merchandise Private Limited.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
2 hours ago
- Hindustan Times
Rahul targets Modi over US trade deal and tariffs, Goyal hits back
Congress leader Rahul Gandhi on Saturday triggered a controversy as he said that Prime Minister Narendra Modi will 'meekly bow' to the tariff deadlines set by US President Donald Trump, in a reference to the India-US trade deal, prompting a sharp retort from Union commerce minister Piyush Goyal who accused the leader of opposition in the Lok Sabha and his party of spreading 'negativity'. Rahul Gandhi Earlier on Friday, Goyal said that India will only enter into trade agreements, including the proposed US Bilateral Trade Agreement (BTA), when they serve the country's national interests and offer mutual benefits. Reacting to the comments, Gandhi on Saturday said, 'Piyush Goyal can beat his chest all he wants, mark my words, Modi will meekly bow to the Trump tariff deadline.' In response, Goyal said that nobody took the Congress leader seriously anymore because of the negativity he and his colleagues spread. 'Nobody takes Rahul Gandhi seriously anymore because of the negativity he, his colleagues, and his party consistently spread. They have lost the confidence of the people of India, who have time and again rejected the Congress. Till today, they have not been able to come up with any positive agenda for the development of the nation...,' Goyal said, speaking to the reporters. He further stated that India negotiated keeping in mind the national interests, further stating that the country was self-confident and could compete with anyone in the world. 'India does not negotiate under deadlines; we negotiate keeping national interests in mind. National interest is paramount in all our work across the world... Today, India negotiates with a position of strength; we are self-confident and can compete with anyone in the world. This is not the India under UPA rule, which would beg for negotiations not under national interest...,' he said. On Friday, Goyal said that India's approach to international trade negotiations remains firm and principled. 'It should be a win-win agreement, and only when India's interests are safeguarded -- national interest will always be supreme -- and keeping that in mind, if a good deal is formed, India is always ready to engage with developed countries,' the minister stated. Goyal emphasised that India negotiates on its terms. The minister revealed that India is currently engaged in trade discussions with multiple countries across different continents. 'Discussions are ongoing with various countries — be it the European Union, New Zealand, Oman, the US, Chile, or Peru. Talks about agreements are underway with many nations,' he said. However, Goyal stressed that the multiplicity of negotiations does not mean India is in a rush to conclude deals. 'A Free Trade Agreement is only possible when there is mutual benefit,' he explained. 'India never enters into trade deals based on deadlines or time pressure. A deal is accepted only when it is fully matured, well-negotiated, and in the national interest,' Goyal stated.
&w=3840&q=100)
First Post
3 hours ago
- First Post
ED attaches assets worth Rs 34 crore of Kannada actor Ranya Rao in gold-smuggling case, calls it 'well-structured operation'
The ED said in a statement that the 'possible' involvement of some public servants in facilitating Rao's illicit activities is under scrutiny as the actor was 'assisted' at the airport upon her arrival in India. read more The Enforcement Directorate (ED) alleged on Friday that Kannada actor Ranya Rao 'orchestrated' a 'well-structured' operation with her associates for smuggling gold into India as it attached her assets worth more than Rs 34 crore as part of a money-laundering investigation. Harshavardini Ranya alias Ranya Rao (32) was arrested by the Directorate of Revenue Intelligence (DRI) from Bengaluru's Kempegowda International Airport on March 3 after she landed from Dubai. DRI officials recovered 14.2 kg of gold bars worth Rs 12.56 crore from her possession. STORY CONTINUES BELOW THIS AD The ED said in a statement that the 'possible' involvement of some public servants in facilitating Rao's illicit activities is under scrutiny as the actor was 'assisted' at the airport upon her arrival in India. The federal probe agency said a provisional order was issued under the Prevention of Money Laundering Act (PMLA) to attach Rao's house in Victoria Layout and a plot located in Arkavathi Layout in Bengaluru, an industrial land in Tumkur and an agricultural land in Anekal taluk. These assets have a combined fair market value of Rs 34.12 crore, it said. A PMLA case was filed against Rao and some others after taking cognisance of a March CBI FIR and a DRI complaint about a larger gold-smuggling racket in India. The CBI FIR also pertained to the interception of two foreign nationals — an Omani and a UAE citizen — at the Mumbai International Airport with 21.28 kg of smuggled foreign-origin gold valued at Rs 18.92 crore. The actor's 'involvement' in generating, possessing and circulating proceeds of crime was further 'corroborated' by her digital footprint, including invoices, export declarations, foreign-remittance records and recorded chats, establishing her 'active role' in the smuggling syndicate, the ED claimed. STORY CONTINUES BELOW THIS AD 'Ranya Rao, in active collusion with Tarun Konduru Raju and others, orchestrated a well-structured operation for smuggling gold into India. 'Gold was procured from suppliers based in Dubai, Uganda and other jurisdictions, and payments were made through hawala channels in cash, thereby circumventing legal financial systems,' the agency said. It claimed that false customs declarations were filed in Dubai, fraudulently declaring the destination of gold shipments as Switzerland or the United States, while the actual travel of the gold smugglers was to India. It was found that dual sets of travel documents were used — one for the declared export destination and the other for their actual arrival in India — to evade scrutiny and facilitate smuggling through Indian airports, the ED said. The smuggled gold was then sold within India for cash to jewellers and other local entities, and the proceeds were subsequently laundered through 'hawala' remittances abroad to finance repeat consignments for smuggling more gold into India, the agency has found. STORY CONTINUES BELOW THIS AD It said 'evidence' retrieved from seized mobile phones and a forensic extraction of digital devices has revealed 'detailed coordination' with foreign gold suppliers, 'hawala' operators and Dubai-based customs agents. Rao, according to the agency, denied knowledge of the seized gold and other assets during the recording of her statement by the ED, but her claims were 'contradictory' when compared with the seized physical evidence, including customs documents bearing her name, travel and purchase records, and digital conversations. The total proceeds of crime identified by the ED in the case stands at Rs 55.62 crore. This includes about Rs 38.32 crore identified through an analysis of the evidence gathered during the course of the investigation like foreign invoices, customs declarations and hawala-linked remittances, according to the agency. The attachment, the ED said, was carried out to prevent concealment or alienation of the tainted assets and secure the proceeds of crime even as it added that the investigation in the case is in progress, including identifying other individuals involved in the syndicate. STORY CONTINUES BELOW THIS AD A search of Rao's residence, post her arrest, unearthed an 'unaccounted' amount of Rs 2.67 crore in cash and gold jewellery worth Rs 2.06 crore.
Time of India
4 hours ago
- Time of India
'AICC tried to revive AJL': Rahul Gandhi's counsel in Herald case
Rahul Gandhi (File photo) NEW DELHI: All India Congress Committee (AICC) was not trying to sell assets of Associated Journals Limited (AJL), the company which published National Herald newspaper, but rather trying to save the institution that was a part of the freedom movement, senior advocate R S Cheema, representing Rahul Gandhi , told a Delhi court Saturday. Cheema made his submissions before the court of special judge Vishal Gogne, which is hearing arguments on the point of cognisance of the chargesheet filed against Sonia Gandhi , Rahul and others in National Herald money laundering case. "In post-Independence period, it (AJL) was never a commercial institution. We (AICC) were trying to retrieve an institution which is part of the freedom movement heritage. The problem was not recovering the loan (given to AJL) but to revive it, to see that it comes back on the rails. AICC was not looking for profit from sales. This is a squinted version," Cheema said. According to ED, Sonia and Rahul, along with others and a private company, Young Indian Pvt Ltd, conspired to launder money by fraudulently usurping AJL's properties valued at over Rs 2,000 crore in exchange for a loan of Rs 90 crore. Cheema said ED's allegations were "crude lies". The senior advocate said ED made unwarranted inferences against Rahul by wrongly assuming that he was the person in-charge of AICC's affairs as its general secretary in 2010. According to the party constitution, AICC has several general secretaries at a point in time, and no one of them could be in-charge of its affairs, Cheema pointed out. The counsel further stated Sonia, then Congress president, was wrongly inferred as person in-charge of AICC when the loan was assigned to AJL. The arguments will continue against other accused, including Suman Dubey, Sam Pitroda, Sunil Bhandari, Young Indian and Dotex Merchandise Pvt Ltd, on Monday.
