The PMLA Adjudicating Authority on Wednesday upheld the Enforcement Directorate (ED) order of attachment of assets worth about Rs 752 crore of Congress-linked ‘National Herald’ newspaper and its associated companies in a money laundering case. This decision has paved the way for ED to take possession of the property. The authority said in its order that it believes that the movable assets and ‘equity’ shares attached by the ED are proceeds of crime and relate to the offense of money laundering.
ED can now take possession of properties like Herald House located at ITO in Delhi, plots and buildings in Mumbai, Lucknow and some other places. Final attachment of these properties can be done after the court pronounces the verdict in favor of the prosecution (ED). The ED had attached these properties by issuing provisional attachment orders under PMLA against Associated Journals Limited (AJL) and Young Indian (YI) in November last year.
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‘National Herald’ is published by AJL
‘National Herald’ is published by AJL and is owned by Young Indian Private Limited. Congress leaders Sonia Gandhi and Rahul Gandhi are the largest shareholders of Young Indian and each hold 38 percent shares. At that time, the Congress had described the agency’s action as a “retaliatory move” and termed the ED as an ally of the BJP. In a statement, the agency had alleged that Congress shareholders and donors were “defrauded” by AJL and party officials in this matter.
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