ED issues notices to take possession of Congress-linked AJL assets worth Rs 661 crore

Enforcement-Directorate

The Enforcement Directorate (ED) on Saturday said it has issued notices to take possession of immovable assets worth Rs 661 crore, previously attached as part of its money laundering probe against Associated Journals Limited (AJL), a Congress-linked entity.

The central agency, in an official statement, said the notices were affixed on Friday at three key AJL properties: the Herald House at ITO in Delhi, premises in Mumbai’s Bandra area, and a building on Bisheshwar Nath Road in Lucknow.

The notices direct occupants to vacate the properties or, in the case of the Mumbai property, to transfer rent proceeds to the ED.

This action has been carried out under Section 8 and Rule 5(1) of the Prevention of Money Laundering Act (PMLA), which outlines the procedure for taking possession of assets already attached and confirmed by the PMLA adjudicating authority.

The assets in question were initially attached by the ED in November 2023 as part of its investigation into alleged financial irregularities involving AJL and Young Indian Private Limited.

AJL publishes the National Herald newspaper and is owned by Young Indian, in which Congress leaders Sonia Gandhi and Rahul Gandhi each hold a 38% stake.

According to the ED, the properties were allegedly used to generate further proceeds of crime, including bogus donations worth Rs 18 crore, fake advance rent of Rs 38 crore, and fabricated advertisements totaling Rs 29 crore.