‘Rahul may be called for ED questioning’

arun Posted On August 12, 2024

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ED may summon Rahul Gandhi for further questioning in its money laundering probe into the National Herald case, aiming to conclude the investigation.

The Enforcement Directorate (ED) may soon summon leader of opposition in the Lok Sabha, Rahul Gandhi, for questioning in connection with its money laundering probe into the affairs of Congress-run National Herald newspaper, highly placed officials familiar with the development said.

Congress MP and Leader of Opposition in Lok Sabha Rahul Gandhi at the Parliament House complex during the Monsoon session, in New Delhi, Monday, Aug. 5, 2024. (PTI)

A fresh round of questioning of the Congress leader may be needed as the agency wants to conclude its probe into the irregularities, in which it has already attached assets worth ?751 crore, they added, asking not to be named.

The Rae Bareli member of Parliament was earlier interrogated by ED for nearly 40 hours in four sittings in June 2022 about his role in the day-to-day functioning of Young Indian Pvt Ltd (YI), a company in which he is a majority stakeholder along with his mother Sonia Gandhi, the acquisition of Associated Journals Ltd (AJL) by YI; a loan of ?90.21 crore given by the All India Congress Committee (AICC) to AJL; and transactions related to the development of a property in Mumbai.

“We are looking to conclude the Associated Journals Ltd (AJL) probe and file a prosecution complaint (ED’s equivalent of charge sheet) so that case goes to trial. All connected persons including Rahul Gandhi may be called soon,” said one of the people, an ED officer.

It was not clear if the financial crimes probe agency is considering calling Sonia Gandhi also for questioning one more time.

Last week, Rahul Gandhi claimed that ED was planning to raid him following his Chakravyuh speech during the discussion on the Union budget in the just concluded session of Parliament. He added he would be waiting for the central probe agency with open arms as ED “insiders” told him that a raid was being planned.

Congress leader Abhishek Manu Singhvi said on Friday: “I have always looked upon ED’s role in the AJL case as bizarre, truly unfathomable. Where no property was ever transferred, where there is and could be no movement of money much less proceeds of crime, where the end shareholder is a not-for-profit company, this is a strange case of neither money movement, nor property movement and hence the per se inapplicability of the PMLA law. If ED wants to call Rahul Gandhi for harassment or for coffee, it is their wish.”

During previous rounds of questioning, both Sonia and Rahul Gandhi told ED officials that Young Indian Pvt Ltd is a not-for-profit company and that financial transactions of the National Herald’s parent company Associated Journals Limited (taken over by Young Indian in 2010) were handled by the late Moti Lal Vora.

The agency, while attaching the assets of AJL and YI in November 2023, claimed that a criminal conspiracy was hatched to give control of properties worth “hundreds of crores of rupees” of Associated Journals Limited (AJL) to the “beneficial owners” of Young Indian, Sonia Gandhi and Rahul Gandhi

ED has claimed that “same set of people were appointed in AJL and YI, who were also members of All India Congress Committee (AICC)”, according to details of attachment order, reviewed by HT.

As part of the conspiracy, a loan of ?90.21 crore, given by AICC to AJL, was assigned to YI for a paltry sum of ?50 lakh “by passing resolutions by the same set of people holding positions in these three entities”. Thereafter, YI asked AJL to repay the loan of ?90.21 crore assigned to it by AICC or convert it into equity.

ED has found that AJL called an extraordinary general meeting (EGM), attended by “same set of people” and passed a resolution to increase share capital and issue fresh shares worth ?90.21 crore to YI. “With this fresh allotment of shares, shareholding of more than 1,000 shareholders was reduced to a mere 1% and AJL became subsidiary company of YI. YI also took control over properties of AJL,” ED has claimed.

The Congress has maintained that the transaction was done to help save the newspaper and pay the salaries of journalists and staffers at a time when AJL faced huge debts. It argued that the decision helped revive the organisation and blamed the central government of raking up an old issue to target the Gandhi family and for political vendetta.

The attachment of properties has already been challenged by AJL before the appellate tribunal for forfeited property (ATFP).

As reported by HT on January 6, ED has identified total proceeds of crime in the National Herald case worth ?988 crore. This includes real estate and other assets worth ?755 crore, shares worth ?90 crore, and rent of ?142 crore earned since 2010-11. The rent was earned by AJL from its prime properties in Delhi, Mumbai, Indore, Panchkula, Lucknow and Patna since YI took over the company in Financial Year 2010-11, ED has claimed.

Courtesy : HT

Note: This news is originally published in hindustantimes.com and was used solely for non-profit/non-commercial purposes exclusively for Human Rights

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