Latest news with #AJL
Hans India
15-07-2025
- Business
- Hans India
Rouse Avenue Court reserves order in ‘National Herald' case
New Delhi: Delhi'sRouse Avenue Court has reserved its decision on whether to take cognizance of the Enforcement Directorate's (ED) prosecution complaint in the 'National Herald' case. Special Judge Vishal Gogne stated that the order will be pronounced on July 29. During the hearing, ED, represented by Additional Solicitor General SV Raju, alleged that donors to the Congress Party were misled and, in some cases, rewarded with political tickets. The agency rejected claims by the Gandhi family that they had no control over Associated Journals Limited (AJL), asserting that Young Indian Limited, which later acquired AJL, was a front to facilitate property transfer worth ₹2,000 crore by paying only ₹50 lakh. The ED further claimed that after the acquisition, the decision not to resume publication of the 'National Herald' raised suspicions about the intent behind the takeover. On the defence side, senior advocate RS Cheema, appearing for Rahul Gandhi, argued that the Congress did not attempt to sell AJL but rather aimed to preserve its legacy. He said AJL was founded in 1937 by key Congress leaders and had close historical ties to the party. Cheema questioned why the ED had not presented AJL's Memorandum of Association, which outlines its political affiliations. Earlier, senior advocate Abhishek Manu Singhvi, representing Sonia Gandhi, called the ED's case 'surprising' and claimed that it lacked any reference to property transactions, a key requirement in a money laundering case. He argued that Young Indian is a not-for-profit company and that its role was to relieve AJL of its debts, a common financial practice. The ED's arguments concluded on July 3, with ASG Raju reiterating that the case represented classic money laundering, accusing Young Indian of being created solely to launder criminal proceeds under the control of the Gandhi family. The ED had filed its prosecution complaint on April 15 under Sections 44 and 45 of the Prevention of Money Laundering Act, naming Sonia Gandhi, Rahul Gandhi, Sam Pitroda, and four others as accused. The case originated from a complaint by BJP leader Subramanian Swamy, who alleged that the transfer of AJL's assets — particularly the ₹1,600 crore Herald House building in Delhi — was part of a conspiracy to gain control of property meant for journalistic use. Swamy argued that the land was allotted for newspaper operations and cannot legally be used for commercial purposes. The court's decision on cognizance is scheduled for July 29.
Time of India
15-07-2025
- Politics
- Time of India
Herald case: Court reserves order on taking cognisance of ED chargesheet
File photo NEW DELHI: The court of special judge Vishal Gogne reserved Monday its order on taking cognisance of the chargesheet filed by ED in National Herald money laundering case for July 29. ED has accused Sonia Gandhi , Rahul Gandhi , Sam Pitroda, late Congress functionaries Motilal Vora and Oscar Fernandes, and Young Indian Pvt Ltd, among others, of conspiracy and money laundering over the fraudulent takeover of properties valued at over Rs 2,000 crore belonging to Associated Journals Ltd (AJL), which published the newspaper, National Herald. Court directed ED to ensure presence of the investigating officer (IO) for inspection of case files, if required, between July 15 and 17. "It is directed that the proposed accused shall file a brief synopsis of their submissions, not exceeding three to four pages, by July 19," the court said. On Saturday, additional solicitor general SV Raju completed his rejoinder arguments, following which counsel for some accused commenced their clarificatory arguments, which were completed on Monday. The court was hearing submissions on the point of cognisance by ED and the proposed accused on a day-to-day basis from July 2 to 8. ED alleges that the Gandhis held a majority 76 per cent shares in Young Indian, which fraudulently usurped the assets of AJL in exchange for a Rs 90 crore loan. The chargesheet names Sonia, Rahul, Pitroda, Suman Dubey, Sunil Bhandari, Young Indian, and Dotex Merchandise.
Time of India
14-07-2025
- Politics
- Time of India
National Herald case: Court to decide on ED charge sheet against Sonia, Rahul Gandhi on July 29
A special court on Monday reserved its verdict on whether to take cognisance of the Enforcement Directorate 's (ED) money laundering complaint against senior Congress leaders Sonia Gandhi , Rahul Gandhi , and five others in the National Herald newspaper case. Special Judge (PC Act) Vishal Gogne of the Rouse Avenue Court will pronounce the verdict on July 29. Representing the Gandhis, senior advocate Abhishek Manu Singhvi argued on July 4 that the ED's case is "truly a strange one," and "more than strange, unprecedented," highlighting that it's an alleged case of money laundering "without any property, without use or projection of property." Conversely, the federal agency's counsel contended it's a 'classic' case of money laundering. The ED alleges that the Gandhis held a 76% majority stake in Young Indian (YI), which purportedly usurped assets of Associated Journals Limited (AJL)-publisher of the National Herald-in exchange for a ₹90 crore loan. The agency argued that YI was used as a 'vehicle' to allegedly usurp AJL assets worth ₹2,000 crore. They further claimed that after acquiring AJL, the Gandhi-controlled Young Indian announced it would cease publishing the National Herald. The ED filed its complaint against Sonia Gandhi, Rahul Gandhi, Suman Dubey, Sam Pitroda, M/s Young India, M/s Dotex Merchandise, and Sunil Bhandari on April 9. The seven accused face charges of money laundering involving proceeds of crime with a current market value exceeding ₹5,000 crore.
The Print
14-07-2025
- Politics
- The Print
Young Indian was engaged in money laundering: ASG Raju tells court in National Herald case
The ASG also cited the individual's statement, according to which, he was asked to arrange Rs 50 lakh and credit it to the bank account of Young India, for which the same amount would be returned to him in cash. Raju started his rejoinder arguments before Special Judge Vishal Gogne, citing a statement from the prosecution complaint where the person had alleged that arranging funds for Young Indian could help in securing a ticket to contest the general elections in April-May 2019. New Delhi, Jul 12 (PTI) Additional Solicitor General S V Raju on Saturday told a court hearing the National Herald case that Young Indian Ltd was engaged in money laundering, and donating to it helped people secure tickets from the Congress party to contest elections. According to the statement cited by the ASG, the person credited Rs 20 lakh in Young Indian's account and received the same amount in cash. 'Young Indian was engaged in money laundering. Anybody giving donation was given a ticket,' Raju said. He also cited portions of the prosecution complaint where, as per the investigation, some donors made payments to Young Indian on instructions from senior Congress leaders to secure their position in the 'party politics', and that many of these donors were not aware of the objectives of Young Indian. 'Some of the people gave donations on the instructions of senior Congress leaders. They were neither aware of Young Indian nor its objective. Substantial donations were received by Young Indian when its charitable status had been cancelled by the Income Tax department,' Raju said. 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 Rs 2,000 crore belonging to Associated Journals Limited (AJL), which published the National Herald newspaper. The ED alleges that the Gandhis held the majority 76 per cent shares in Young Indian, which fraudulently usurped the assets of AJL in exchange for a Rs 90 crore loan. Its chargesheet names Sonia and Rahul Gandhi, Sam Pitroda, Young Indian, Suman Dubey, Sunil Bhandari and Dotex Merchandise Pvt Ltd. ASG Raju questioned why Dotex would provide a Rs one crore loan to Young Indian, which was running into losses. 'No valuable asset, no collateral was taken before a loan was given. You (Dotex) are giving a loan to an entity from which the loan is non-recoverable. No security, mortgage, nothing is taken. Dotex is not as clean as projected. Assisting is also an offence,' Raju said. He also said that the All India Congress Committee (AICC) had transferred the Rs 90 crore loan to AJL in a clandestine manner and that the 'debt was a facade.' After Raju completed his rebuttal, the court posted the matter for further proceedings on Monday. PTI MNR RT This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
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Business Standard
14-07-2025
- Business
- Business Standard
National Herald case: Court reserves order on ED chargesheet cognisance
ED alleges that Gandhis held the majority 76 per cent shares in Young Indian, which fraudulently usurped the assets of AJL in exchange for a Rs 90 crore loan A Delhi court on Monday reserved its order on taking cognisance of the chargesheet filed by the Enforcement Directorate in the National Herald case. Special Judge Vishal Gogne said the matter will be heard on July 29. The Enforcement Directorate (ED) has accused Sonia Gandhi 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 Rs 2,000 crore worth properties belonging to Associated Journals Limited (AJL), which published the National Herald newspaper. ED alleges that Gandhis held the majority 76 per cent shares in Young Indian, which fraudulently usurped the assets of AJL in exchange for a Rs 90 crore loan. The chargesheet names Sonia Gandhi and Rahul Gandhi, Sam Pitroda, Suman Dubey, Sunil Bhandari, Young Indian and Dotex Merchandise Pvt Ltd. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
