National Herald Money Laundering Case Hearing To Continue On July 14

The ongoing hearing of the National Herald money laundering case is scheduled to continue on July 14.

Special Judge Vishal Gogne has allowed any party to submit an additional statement.

During the proceedings, Additional Solicitor General (ASG) SV Raju, representing the Enforcement Directorate (ED), levied serious charges against the Young Indian organisation. He alleged that money laundering activities involved the organisation.

ASG Raju said that Young Indian rewarded donors with election tickets, indicating a political quid pro quo.

The ED further claimed that Young Indian did not undertake any genuine charitable work.

ASG Raju emphasised that the organisation operated merely as a front, with charitable activities never actually commenced.

Acquisition of assets without investment

The ED presented a crucial allegation stating that Young Indian acquired assets valued at nearly ₹2,000 crore without any actual investment.

This included the acquisition of Associated Journals Limited (AJL). The ED also revealed that ₹50 lakh was received from a company named Dotex for the purchase of AJL assets.

The Enforcement Directorate accused Young Indian of distributing political benefits under the guise of a charitable organisation.

ASG SV Raju claimed that the formation of Young Indian was part of a conspiracy to illegally acquire AJL’s valuable properties without paying for them.

They collected donations in the name of charity but did not use the funds for any charitable causes.

The ED also stated that after Rahul Gandhi became the director of Young Indian, the organisation demanded repayment of loans from AJL or their conversion into equity, raising questions about the true nature of the group’s objectives.

In previous hearings, ASG SV Raju rejected the assertions made by Rahul Gandhi and Sonia Gandhi that they held no control over the properties involved.

He described their statements as misleading and deceptive, particularly their claim that shareholders had no rights over the assets.

ASG Raju highlighted that Associated Journals Limited, although not profitable, owned assets worth close to ₹2,000 crore but was facing difficulties managing its daily expenses.

He alleged that Rahul Gandhi and Sonia Gandhi conspired to unlawfully seize these valuable assets through Young Indian.

This hearing remains one of the most high-profile cases involving allegations of political and financial misconduct, with significant implications for all parties involved.

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