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The Enforcement Directorate (ED) has made serious allegations against top Congress leaders Sonia Gandhi and Rahul Gandhi in the National Herald Money Laundering case. Other accused, including the two leaders, are accused of creating a criminal conspiracy to grab property worth Rs 2,000 crore.
What are the allegations of ED?
The ED says that Sonia and Rahul Gandhi used a private company ‘Young Indian’ to achieve assets worth about Rs 2,000 crore from Associated Journal Limited (AJL). It is alleged that 99 percent shares of AJL were transferred to Young Indian for only Rs 50 lakh. Sonia Gandhi and Rahul Gandhi are the dominated shareholders of Young Indian.
Accused in charge sheet
Sonia Gandhi is accused number one and Rahul Gandhi accused number two in the charge sheet filed under the Money Laundering Prevention Act (PMLA) in the court of Special Judge Vishal Gogne. Other accused include Congress leader Suman Dubey, Sam Pitroda, Young Indian, Dotex Merchandise Private Limited and its officer Sunil Bhandari. If the allegations are proved, there can be a jail sentence of up to seven years.
Assembly connected up to Rs 5,000 crore
According to the ED, the current market price of assets acquired from crime in this case is around Rs 5,000 crore. So far, the ED has started the process of seizing immovable properties worth Rs 661 crore.
Action on Vora and Fernandes postponed
Action against late Congress leaders Motilal Vora and Oscar Fernandes in the case is currently postponed, although the ED may file a supplementary charge sheet in the coming days.
How did Gandhi family get trapped?
Sonia and Rahul Gandhi hold 38-38 percent shares in Young Indian. According to the ED, the loan of Rs 90.21 crore given by the Congress to AJL was converted into shares and transferred to Young Indian for just Rs 50 lakh. The ED has described it as a criminal conspiracy and said that by doing so, the assets worth thousands of crores went under the control of the Gandhi family.
Accused of tax evasion of Rs 414 crore
The charge sheet also cites the assessment order of the 2017 Income Tax Department, in which tax evasion of more than Rs 414 crore is accused by Young Indian. The ED says that Young Indian did not do any charitable activity during its existence.
How did the case begin?
The investigation of the case started on the basis of a personal complaint of BJP leader Subramanian Swamy, which was taken cognizance by the Patiala House Court in Delhi in 2014. The order was challenged in the Supreme Court and the Delhi High Court, but both the courts refused to intervene.
