ED summoned Congress interim president Sonia Gandhi and Congress MP Rahul Gandhi on June 1, 2022 on the 'National Herald' case after questioning senior Congress leader Mallikarjun Kharge and Congress treasurer Pawan Bansal in April this year in New Delhi in connection with its money laundering probe into the National Herald case.
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The Enforcement Directorate (ED) on Wednesday (June 1) summoned Congress interim president Sonia Gandhi and Congress MP Rahul Gandhi over the National Herald case, which was closed by the investigating agency in 2015.
The federal agency’s move followed the questioning of senior Congress leader Mallikarjun Kharge and Congress Treasurer Pawan Bansal in April this year in New Delhi in connection with its money laundering probe into the National Herald case.
The agency then recorded the statements of both the Congress leaders then under the Prevention of Money Laundering Act (PMLA). The National Herald is published by Associated Journals Limited (AJL) and owned by Young Indian Pvt Limited (YIL). While Kharge is the CEO of YIL, Bansal is the Managing Director of AJL.
The ED is currently investigating the shareholding pattern and financial transactions and the role of party functionaries in the functioning of AJL and YIL.
The YIL promoters include Congress President Sonia Gandhi and Rahul Gandhi.
BJP MP Subramanian Swamy had alleged that the Gandhis cheated and misappropriated funds, with YIL paying only Rs 50 lakh to obtain the right to recover Rs 90.25 crore that AJL owed to the Congress.
He had filed a complaint with a Delhi court earlier. Following the court taking cognisance of an Income Tax Department probe against YIL on Swamy’s petition, the ED also registered a fresh case under PMLA.
A closer look at high profile 'National Herald case'
How 'Young Indian' with a capital of Rs 50 lakh acquired all shareholding of AJL worth
Rs 5,000 crore ?
New Delhi
Congress chief Sonia Gandhi's troubles vis-a-vis the high profile 'The National Herald' case did not start with any
vindictive politics of the BJP.
With regard to this case Dr Subramanian Swamy is leading the litigation and Sonia
and Rahul Gandhi were given bail by Patiala House Court a few years ago.
In fact, Dr Swamy had filed the case against Sonia and Rahul Gandhi, the companies and associated persons
in January 2012 when the UPA was in power.
He said under the Income Tax Act no political organisation can have financial transactions with a third party and
in this case the Congress was directly involved.
Gandhis were first summoned in June 2014 (when the Modi Govt was in power).
They were accused in the criminal complaint for alleged cheating and misappropriation of funds in
acquiring ownership of now-defunct daily National Herald.
It was alleged that the Young Indian company paid only Rs 50 lakh for the right to recover R 90 crore AJL
owed to the party, which implies that the Congress had written off the remaining Rs 89.5 crore.
As soon as the news spread on June 1, Wednesday, like wildfire both in the electronic and social media,
the refrain by many commoners has been - "The law taking its course?
The Modi Govt delivered Ram Temple, abolished Art 370;..... now time for 'wrongdoers' face the law".
As per the complaint filed in the court of the Metropolitan Magistrate, Associated Journals Limited (AJL)
took an interest-free loan of Rs 90.25 crore from Congress party. It was alleged that the loan was
not repaid and the rest of the row relates to a company called 'Young Indian'.
Much to the delight of Sonia Gandhi-critics, on December 7, 2015, the Delhi
High Court first ordered Sonia Gandhi, Rahul Gandhi and five others to appear in person before the trial court.
They did not appear in court and on their lawyers' request, the trial court ordered them to appear before him
in person on December 19. Later, the Patiala House court granted bail.
In his first reaction after summons were issued by the Enforcement Directorate, Dr Swamy said
on Wednesday- "They have a building in Bandra in Bombay, in Indore, in Lucknow. They have properties through
National Herald across the country".
One Twitter missive took a dig at the Congress party.
"ED summons Sonia Gandhi and Rahul Gandhi in 'National Herald' case, to appear on 8th June ;
Congress going mad, as the ED hit the nerve of corruption within Congress. Now Kapil Sibal is also
not in the team," the missive said in veiled reference to Kapil Sibal quitting the grand old party recently.
Those tracking the developments in the case say the row relates to the fact that
a closely held company, 'Young Indian', was incorporated in November 2010 with a capital of
Rs 50 lakh (US$66,000) and it acquired almost all the shareholding of AJL and all its properties
(alleged to be worth Rs 5,000 crore).
The AJL published the 'National Herald' newspaper in English, Qaumi Awaz in Urdu and Navjeevan in Hindi
until 2008. AJL also owns real estate property in various cities including New Delhi, Lucknow, Bhopal,
Mumbai, Indore, Patna and Panchkula.
The properties of AJL include a massive Herald House, a six-storey building with around 10,000 sq metre office space.
On 21 January 2016 the AJL in its meeting in Lucknow decided to relaunch the three dailies.
Curiously many shareholders of AJL alleged that no notice was served on them by AJL for any meeting
of the shareholders and that the shares held by their fathers have been transferred by AJL to
'Young Indian' fraudulently without their consent in December 2010.
These shareholders include prominent individuals such as former law minister Shanti Bhushan and former chief justice of Allahabad and Madras High Courts Markandey Katju.
On 13 December 2010, Rahul Gandhi was appointed director of Young Indian while Sonia Gandhi
joined the board of directors on 22 January 2011.
It was reported that 76 percent are jointly held by Sonia Gandhi and Rahul Gandhi, and the remaining
24 percent are held by Congress leaders Motilal Vora and Oscar Fernandes.
Congress leader Rahul Gandhi's office had earlier said 'Young Indian' is a "not-for-profit company"
which does have commercial operations.
There are other developments in the case too.
The Enforcement Directorate has attached properties worth Rs 64 crore in May 2019
The Supreme Court allowed the income-tax department to reassess the 2011–12 tax filings of Rahul Gandhi
and Sonia Gandhi.
The court, however, restrained the department from taking any action against the two for sometime.
ends
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