ED Moves to Seize Rs 661 Crore in Assets Linked to Congress-Backed AJL in Money Laundering Case:

As per the Enforcement Directorate’s (ED) announcement on Saturday, they, have issued possession notices for immovable properties valued at ₹661 crores. These assets, linked to Associated Journals Limited (AJL), a Congress-affiliated entity, were previously attached during the ED's ongoing money laundering investigation.

Notices Issued at AJL Properties in Delhi, Mumbai and Lucknow

As per a government notice, the three AJL owned Herald House located at ITO in Delhi, a property in Bandra Mumbai and another building at Bisheshwar Nath Road Lucknow have been locked. The notice was digitally pinned on January 5, 2024.

Varying from previous allegations, the directive necessitates active participants to relinquish the space in question. Specifically regarding the Mumbai property, participants confined within its limits have been instructed to begin channeling the payments to the ED.

Such measures are authorized under Section 8 and Rule 5 (1) of Prevention of Money Laundering Act (PMLA) which allows the agency to operate control of captured assets provided the adjudicatory body under the PMLA has lost endorsement control on asset detainment.

Background of the Investigation

The properties were charged first by the ED in November 2023. The inquiry pertains to the suspected financial mismanagement relating to AJL and Young Indian Private Limited which has Congress leaders Sonia Gandhi and Rahul Gandhi as shareholders each holding 38 percent.

AJL, the publisher of the National Herald newspaper, possesses properties that the ED claims were utilized to accrue criminal profits.

Particulars of Alleged Financial Irregularities

Allegations claim AJL partook in the creation of fictitious financial activities such as:

Deceptive donations worth Rs 18 crores
Deceptive Advance rent payments upwards Rs 38 crores
Deceptive income from advertisement payments amounting to Rs 29 crores

All these transactions form part of the international investigation concerning politically connected individuals suspected of asset overreach and money laundering.