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Time of India
04-07-2025
- Business
- Time of India
'Truly a strange case': Abhishek Manu Singhvi rebuts ED's money laundering charge against Rahul, Sonia in court
Representing Sonia Gandhi and Rahul Gandhi , senior advocate Abhishek Manu Singhvi on Friday contended that the case made out by the Enforcement Directorate (ED) in the Congress-linked National Herald newspaper case is "truly a strange one". He said, "More than strange. Unprecedented," adding that it is an alleged case of money laundering "without any property, without use or projection of property". Amongst several allegations, ED has alleged that the Gandhis held the majority 76% shares in Young Indian (YI), which allegedly usurped assets of Associated Journals Limited (AJL) in exchange for a ₹90 crore loan. Responding to this charge, Singhvi argued that the exercise was undertaken to make AJL debt-free. The lawyer added that "every company is entitled under law and does, every day, make their companies get free by a variety of instruments. So you take away the debt and assign it to another entity. So this company becomes debt-free". by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Join new Free to Play WWII MMO War Thunder War Thunder Play Now Undo He also argued that YI was a not-for-profit company. "This means it cannot give dividends, perks, salaries, or bonuses. It can give (away) nothing," Singhvi added. He also contended that the present court did not have jurisdiction to try the case. ED had on Thursday concluded its arguments in the alleged money laundering case in which Sonia, Rahul Gandhi and other co-accused stand chargesheeted by the agency for their alleged involvement in the Herald newspaper case. The counsel for the agency told a special court on Thursday here that it is a "classic" case of money laundering. The agency further argued that YI was used as a "vehicle" with the intention to allegedly usurp assets worth ₹2,000 crores of AJL, which published the National Herald newspaper. The federal agency filed a prosecution complaint (equivalent of a chargesheet) against Sonia, Rahul Gandhi, Suman Dubey, Sam Pitroda, M/s Young India, M/s Dotex Merchandise and Sunil Bhandari in a local court on April 9. The court will decide on taking the cognisance of the chargesheet only after hearing the contentions of the agency and accused. Live Events
Time of India
03-07-2025
- Business
- Time of India
National Herald case: Documented evidence exhibiting money laundering, says ED to Court
New Delhi: The Enforcement Directorate (ED) on Thursday concluded its arguments in an alleged money laundering case in which senior Congress leaders Sonia, Rahul Gandhi and other co-accused stand chargesheeted by the agency for their alleged involvement in Congress-linked National Herald newspaper case. The counsel for the agency told a special court here that it is a "classic" case of money laundering. He added that it is an open and shut case with documented evidence exhibiting money laundering. The agency further argued that Young Indian (YI) was used as a "vehicle" with the intention to allegedly usurp assets worth ₹2,000 crore of Associated Journals Limited (AJL), which published the National Herald newspaper. The counsel further contended that after taking over the ownership of AJL, the YI that was controlled by the Gandhi family had announced that it would not publish the newspaper. The agency also alleged that apart from Delhi, the AJL had properties in Lucknow, Bhopal, and Indore, Panchkula, Patna and other parts of the country that had been given by various central and state governments after 1947. ED said that these properties were transferred to YI for making illegal money. The defence will commence its counter arguments on Friday. At the last hearing on Wednesday, the counsel for ED told the court that the agency could make the Congress party an accused in the case if it found evidence of its involvement. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Chi phí cấy ghép răng là bao nhiêu vào năm 2025 (kiểm tra giá) Cấy ghép răng | Quảng cáo tìm kiếm Tìm hiểu thêm Undo "The ED can make AICC an accused in the future if it finds evidence. Just because the ED has not made AICC an accused, does not mean it is deprived of its right to do it," the agency's counsel had contended on Wednesday.
Yahoo
20-06-2025
- Business
- Yahoo
111: Q1 Earnings Snapshot
SHANGHAI (AP) — SHANGHAI (AP) — 111 Inc. (YI) on Thursday reported a loss of $2.4 million in its first quarter. The Shanghai-based company said it had a loss of 20 cents per share. The Operator of a digital and mobile healthcare platform in China posted revenue of $486.3 million in the period. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on YI at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Hindu
23-05-2025
- Politics
- The Hindu
Herald case: ED names Congress leaders who 'sought donations' for Young Indian, AJL
Some Congress leaders were among individuals who donated funds to the Young Indian and AJL on instructions from senior party functionaries, as not doing so would have been "damaging" for their political careers and businesses, the ED is learnt to have said in its chargesheet filed in the National Herald case. The chargesheet was filed on April 9 before a local court which is yet to take its cognisance. The ED has named 78-year-old former Congress president and Rajya Sabha MP Sonia Gandhi as accused no. 1 and her son Rahul Gandhi (54) as accused no. 2, apart from five others in the prosecution complaint filed under the Prevention of Money Laundering Act (PMLA). The National Herald-AJL-YI case pertains to an alleged conspiracy orchestrated to illegally obtain assets worth ₹2,000 crore of the Associated Journals Limited (AJL) by the "beneficial owners" and majority shareholders of YI (Sonia Gandhi and Rahul Gandhi). Also Read | National Herald case a political conspiracy: Kanhaiya Kumar AJL is the publisher of the National Herald news platform (newspaper and web portal) and is owned by Young Indian Private Limited. The federal probe agency, according to sources who spoke to PTI, found in its investigation that some entities made payments to the company "under the influence" from senior leaders of the Congress party who promised them "certain favours" in party politics. The Congress has described the ED's chargesheet against the Gandhis as "vendetta politics". The Opposition party last month claimed that the ED chargesheet was an attempt to divert attention from the economic crisis the country was facing. Those named in the chargesheet for seeking donations for YI include Telangana CM and former PCC president Revanth Reddy, late Ahmed Patel and Pawan Bansal. However, none of these leaders have been named as accused in the chargesheet. There was no immediate reactions from Mr. Reddy and Mr. Bansal. The ED has recorded the statement of a Congress leader named Arvind Vishwanath Singh Chauhan who said he "arranged" Rs 30 lakh donation from his bank account and Rs 20 lakh "in cash" to YI as he "could not refuse" the "request" of Patel as he contested MLA election on the party's ticket. Another person Rajeev Gambhir is understood to have told the ED that he made donations to the YI "on instructions of" Patel and for securing some post for himself in the AICC office apart from a ticket for his son-in-law for 2019 Lok Sabha polls from the Mandi seat of Himachal Pradesh. The ED said Gambhir later wrote letters to Sonia Gandhi for getting his money back as the promises made to him were "not fulfilled" and a 80G certificate to claim I-T benefits on this donation was not provided to him. The ED is understood to have named Telangana CM Reddy (who was Telangana PCC president then), Patel and Bansal as the Congress leaders on whose instructions a number of people made donations to YI between 2019-2022. The agency has said that some of the donors are the members or leaders of the Congress who transferred money to YI on instruction from senior party functionaries as "annoying" them would have been "damaging" for their career in the party. The ED is understood to have stated that payments made to YI cannot be held as donations as they were not made "voluntarily" but in expectation of some betterment for the donors' political career. The ED found that YI received Rs 6.90 crore and Rs 5.05 crore in donations during 2018-19 and 2019-20 fiscals and this money was used to make payment to file an appeal against the demand raised by Income Tax department against it for 2011-12 assessment year (in December, 2017). The ED is also understood to have stated that similar payments in the name of money for advertisements were made to AJL. It found over a dozen entities paid Rs 6.8 crore to AJL on "instructions" of various Congress leaders. The agency has also named former Congress MP from Punjab Ravneet Bittu (now with the BJP and a Union minister) and former MLA Bharat Bhushan Ashu (arrested by the ED some years back), Bharat Inder Singh Chahal, a close associate of former Punjab CM Amarinder Singh who is with the BJP now, and late Congress leader Oscar Fernandes as people who approached individuals to fund advertisements in the National Herald through AJL. The ED said funds in AJL were received by way of "quid pro quo" where people were initially "obliged" by the Congress leaders and subsequently asked to make payments for advertisements.
NDTV
23-05-2025
- Politics
- NDTV
In National Herald Case, Congress Leaders Who Donated To Young Indian Named
New Delhi: Some Congress leaders were among individuals who donated funds to the Young Indian and AJL on instructions from senior party functionaries as not doing so would have been "damaging" for their political careers and businesses, the Enforcement Directorate is learnt to have said in its chargesheet filed in the National Herald case. The chargesheet was filed on April 9 before a local court which is yet to take its cognisance. The Enforcement Directorate has named 78-year-old former Congress president and Rajya Sabha MP Sonia Gandhi as accused no. 1 and her son Rahul Gandhi (54) as accused no. 2, apart from five others in the prosecution complaint filed under the Prevention of Money Laundering Act (PMLA). The National Herald-AJL-YI case pertains to an alleged conspiracy orchestrated to illegally obtain assets worth Rs 2,000 crore of the Associated Journals Limited (AJL) by the "beneficial owners" and majority shareholders of YI (Sonia Gandhi and Rahul Gandhi). AJL is the publisher of the National Herald news platform (newspaper and web portal) and is owned by Young Indian Private Limited. The federal probe agency, according to sources who spoke to PTI, found in its investigation that some entities made payment to the company "under the influence" from senior leaders of the Congress party who promised them "certain favours" in party politics. The Congress has described the Enforcement Directorate's chargesheet against the Gandhis as "vendetta politics". The opposition party last month claimed that the Enforcement Directorate chargesheet was an attempt to divert attention from the economic crisis the country was facing. Those named in the chargesheet for seeking donations for YI include Telangana Chief Minister and former PCC president Revanth Reddy, late Ahmed Patel and Pawan Bansal. However, none of these leaders have been named as accused in the chargesheet. There was no immediate reactions from Mr Reddy and Mr Bansal. The Enforcement Directorate has recorded the statement of a Congress leader named Arvind Vishwanath Singh Chauhan who said he "arranged" Rs 30 lakh donation from his bank account and Rs 20 lakh "in cash" to YI as he "could not refuse" the "request" of Patel as he contested MLA election on the party's ticket. Another person Rajeev Gambhir is understood to have told the Enforcement Directorate that he made donations to the YI "on instructions of" Patel and for securing some post for himself in the AICC office apart from a ticket for his son-in-law for 2019 Lok Sabha polls from the Mandi seat of Himachal Pradesh. The Enforcement Directorate said Gambhir later wrote letters to Sonia Gandhi for getting his money back as the promises made to him were "not fulfilled" and a 80G certificate to claim I-T benefits on this donation was not provided to him. The Enforcement Directorate is understood to have named Telangana Chief Minister Reddy (who was Telangana PCC president then), Patel and Bansal as the Congress leaders on whose instructions a number of people made donations to YI between 2019-2022. The agency has said that some of the donors are the members or leaders of the Congress who transferred money to YI on instruction from senior party functionaries as "annoying" them would have been "damaging" for their career in the party. The Enforcement Directorate is understood to have stated that payments made to YI cannot be held as donations as they were not made "voluntarily" but in expectation of some betterment for the donors' political career. The Enforcement Directorate found that YI received Rs 6.90 crore and Rs 5.05 crore in donations during 2018-19 and 2019-20 fiscals and this money was used to make payment to file an appeal against the demand raised by Income Tax department against it for 2011-12 assessment year (in December, 2017). The Enforcement Directorate is also understood to have stated that similar payments in the name of money for advertisements were made to AJL. It found over a dozen entities paid Rs 6.8 crore to AJL on "instructions" of various Congress leaders. The agency has also named former Congress MP from Punjab Ravneet Bittu (now with the BJP and a Union minister) and former MLA Bharat Bhushan Ashu (arrested by the ED some years back), Bharat Inder Singh Chahal, a close associate of former Punjab CM Amarinder Singh who is with the BJP now, and late Congress leader Oscar Fernandes as people who approached individuals to fund advertisements in the National Herald through AJL. The Enforcement Directorate said funds in AJL were received by way of "quid pro quo" where people were initially "obliged" by the Congress leaders and subsequently asked to make payments for advertisements.
