The Enforcement Directorate (ED) has concluded its submissions before the Rouse Avenue Court in Delhi in the high-profile National Herald case.
The matter is being heard by Justice Dr Vishal Gogne, with the next hearing scheduled for 4 July 2025, when Sonia Gandhi and Rahul Gandhi will present their responses.
During the hearing, Additional Solicitor General (ASG) SV Raju, representing the ED, made a series of serious allegations.
He described Young Indian as a ‘paper company’ set up solely to acquire control over Associated Journals Ltd (AJL) and its assets.
He argued that the company was essentially a proxy for the Gandhi family, created for the purpose of facilitating alleged money laundering activities.
ASG Raju stated that the final control and benefit of Young Indian lay with Sonia and Rahul Gandhi, and that the transaction involving AJL’s shares was both fraudulent and strategically designed to bypass regulatory scrutiny.
Congress & shareholder deception
The ED asserted that the Gandhi family misled AJL’s thousands of shareholders, stripping them of value and excluding them from crucial decisions.
The transfer of shares to Young Indian, the agency claims, was approved by only seven shareholders — a move that denied rights to others and caused substantial financial harm.
ASG Raju highlighted that Sonia and Rahul Gandhi, through Young Indian, effectively became 100% shareholders, as the remaining shareholders either passed away or their shares remained untransferred.
He further argued that under Section 70 of the PMLA, both Gandhis were fully liable.
The court raised concerns about the absence of shareholder complaints, questioning how the trial could proceed without direct victim testimony
ASG Raju responded that the beneficiaries of the alleged fraud were the accused themselves, adding that indirect evidence could still support prosecution.
Earlier, ASG Raju hinted that the Congress Party itself may come under investigation, though he clarified that this would only happen if strong evidence emerged.
He alleged that fake rental receipts and politically driven advertising payments were part of the scheme.
Assets worth ₹2,000 crore in question
The ED claims that AJL, although unprofitable, held properties worth nearly ₹2,000 crore.
ASG Raju alleged that Sonia and Rahul Gandhi orchestrated a plot to seize these assets in exchange for ₹90 crore in loans from the Congress Party.
He further stated that Sonia and Rahul Gandhi own 76% of Young Indian, using this majority stake to engineer the alleged fraudulent acquisition.
The matter will resume on 4 July 2025, when Sonia Gandhi and Rahul Gandhi are likely to counter the ED’s claims.
The case continues to draw close public and legal scrutiny, potentially implicating the Congress Party and its leadership.
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