ED has served notices to Registrars of property in Delhi, Mumbai and Lucknow having jurisdiction of the area where AJL properties are located
FinTech BizNews Service
Mumbai, April 13, 2025: As part of the process to take possession of the tainted properties in the Associated Journals Limited (AJL) money laundering case, the Directorate of Enforcement (ED) in compliance with Section 8 of PMLA, 2002 and Rule 5(1) of the Prevention of Money Laundering (Taking Possession of Attached or Frozen Properties Confirmed by the Adjudicating Authority) Rules, 2013, on 11.04.2025 has served notices to Registrars of property in Delhi, Mumbai and Lucknow having jurisdiction of the area where AJL properties are located, as per the press release issued by the ED.
A notice under Rule 5 (3) of Prevention of Money Laundering (Taking Possession of Attached or Frozen Properties Confirmed by the Adjudicating Authority) Rules, 2013 has also been served on 11.04.2025 to M/s Jindal South West Projects Limited which occupying 7th, 8th, and 9th floor at Herald House, Bandra (E), Mumbai, to transfer the rent / lease amount every month in favour of Director, Directorate of Enforcement.
These properties were attached after extensive investigation by ED which revealed signification generation, possession and use of proceeds of crime to the tune of Rs. 988 crores. Therefore, to secure the proceeds of crime and to prevent the accused form dissipating the same, the immovable properties of AJL located at Delhi, Mumbai and Lucknow valued at Rs661 crores along-with the shares of AJL valued at 90.2 crores were attached by issuing provisional attachment order (PAO) dated 20.11.2023 by the Directorate of Enforcement and the same has been confirmed by the Ld. Adjudicating Authority on 10.04.2024.
The investigation by ED commenced in 2021, on the basis of a cognizance order issued on June 26, 2014, by the Metropolitan Magistrate Patiala House Courts in New Delhi, based on a private complaint filed by Shri Subramanian Swamy. The complaint highlighted a criminal conspiracy by several prominent political figures, including Smt. Sonia Gandhi, Sh. Rahul Gandhi, Lt. Sh. Motilal Vohra, Lt. Sh. Oscar Fernandes, Sh. Suman Dubey, Sh. Sam Pitroda and a private company Young Indian for alleged involvement in a money laundering scheme related to the fraudulent takeover of properties valued over Rs2000 crores belonging to Associated Journals Limited (AJL). The legal proceedings against the accused have faced challenges but have been upheld by both the Delhi High Court and the Supreme Court of India, allowing the investigation to proceed.
The ED has conducted searches and seizures at multiple locations, uncovering incriminating documents linked to the alleged money laundering activities. Investigation under PMLA 2002 has conclusively revealed that, Young Indian, a private company beneficially owned by Smt. Sonia Gandhi and Sh. Rahul Gandhi, acquired AJL properties worth Rs. 2000 crores for a mere Rs. 50 Lakh, significantly undervaluing its worth.
Findings from the Directorate of Enforcement (ED) also indicate that Young Indian and AJL properties were used for generation of further Proceeds of Crime in the form of bogus donations to the tune of Rs. 18 Crore, bogus advance rent to the tune of Rs. 38 Crore and bogus advertisements of Rs. 29 Crore. Therefore to stop the further generation, utilization and enjoyment of the proceeds of crime and in compliance with Section 8 of PMLA 2002 and Prevention of Money Laundering (Taking Possession of Attached or Frozen Properties Confirmed by the Adjudicating Authority) Rules, 2013, the Directorate of Enforcement has initiated the proceedings to take possession if the tainted properties. The notices issued under Rule 5 (1) of the said Rule have also been affixed on the conspicuous part of these properties.
