National Herald | ED Seizes Assets Of Herald In Money Laundering Case | Is Questioning Timing Right?

National Herald | ED Seizes Assets Of Herald In Money Laundering Case | Is Questioning Timing Right?

The Enforcement Directorate on Tuesday said it had issued an order to provisionally attach properties worth ₹751.90 crore in an alleged money-laundering case involving Associated Journals Ltd. (AJL), which runs the National Herald newspaper, and Young Indian. The agency alleged that the then AJL office-bearers and the Congress had cheated the company’s shareholders and donors of the party.

“Directorate of Enforcement (ED) has issued an order to provisionally attach properties worth ₹751.9 crore in a money-laundering case investigated under the Prevention of Money Laundering Act (PMLA), 2002. Investigation revealed that M/s Associated Journals Ltd (AJL) is in possession of proceeds of crime in the form of immovable properties spread across many cities of India such as Delhi, Mumbai and Lucknow to the tune of Rs. 661.69 crore and M/s. Young Indian (YI) is in possession of proceeds of crime to the tune of Rs. 90.21 Crore in the form of investment in equity shares of AJL,” ED said in its statement.

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