National Herald case: Sonia, Rahul Gandhi aimed to usurp assets worth Rs 2,000 crore, ED tells court

The Enforcement Directorate on Wednesday alleged before a Delhi court that Congress leaders Sonia Gandhi and Rahul Gandhi wanted to siphon off Rs 2,000 crore from Associated Journals Limited, the company that once published the National Herald newspaper, The Indian Express reported.

Additional Solicitor General SV Raju, representing the agency, told a Delhi court that the Congress gave an interest-free loan of Rs 90 crore to Associated Journals Limited for a consideration of Rs 50 lakhs. The agency alleged that the debt was converted into equity in favour of not-for-profit firm Young Indian, in which the Gandhis held a 76% share.

“A company by the name of AJL…was not making profit but it had assets worth Rs 2,000 crores,” Raju told the court, according to The Indian Express. “How come they didn’t have 90 crores to repay the loan? Any prudent person would’ve sold their assets to repay the loans.”

The Enforcement Directorate, which is looking into money-laundering allegations linked to the case, alleged a conspiracy to form Young Indian to illegally take over the Associated Journals Limited’s assets, India Today reported. This was done through “fake transactions” in which several Congress leaders were involved and a Rs 90 crore loan to the company from the party, the Enforcement Directorate added.

Raju further alleged that the Congress aimed...

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