ED Provisionally Attaches Properties Worth Rs 751.9 Crore in National Herald Case
Image Source: Free India Journal
The Enforcement Directorate (ED) made a significant move by provisionally attaching properties valued at Rs 751.9 Crore in the National Herald money-laundering case. These assets spread across cities like Delhi, Mumbai, and Lucknow, are linked to Associated Journals Ltd. (AJL) and Young Indian (YI), totalling Rs. 661.69 Crore and Rs. 90.21 Crore respectively, according to the ED’s findings.
This development follows previous interrogations of key figures, including Sonia and Rahul Gandhi, in connection with the case.
The National Herald case revolves around the acquisition of Associated Journals Limited, the publisher of the National Herald, by Young Indian. The debate primarily focuses on the ownership of assets valued at over 800 crores. The Income Tax department contends that these assets should be attributed to Young Indian shareholders Sonia Gandhi and Rahul Gandhi, thereby making them liable for taxes. However, the Congress party claims that Young Indian operates as a non-profit entity, insisting that its shareholders cannot benefit financially from its assets.
Contrary to this, the ED alleges that Young Indian has not participated in any charitable activities and is thus ineligible for benefits. The agency claims the sole transaction recorded was the transfer of AJL’s debt. In response, the Congress has argued that the newspaper itself serves as the charitable endeavor.
The ED’s recent attachment of properties, occurring just ahead of critical assembly polls in five states and the upcoming general election, is poised to ignite political controversy. Opposition parties are likely to attribute political motives to the Modi government, generating fresh debates and contentious discussions in the political landscape.
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- Harshit Tokas is a Political Science and International Affairs Post-Graduate with a passion for understanding and analyzing complex political landscapes. Skilled in research, data analysis, and policy development. Eager to contribute his knowledge and insights to drive positive change.
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