Hearing date
The hearing has been a scheduled for April 25 by a special court. While issuing the order, special judge Vishal Gogne stated, “The present prosecution complaint shall next be taken up for consideration on the aspect of cognizance… when Special Counsel for the ED and the Investigating Officer shall also ensure production of the case diaries for perusal by the court.”
Asset seizure
ED’s investigation into Young Indian’s acquisition of AJL
AJL is controlled by Young Indian Private Limited, a company where Sonia and Rahul hold a 38% stake.
The ED is looking into alleged financial irregularities in the purchase of AJL by Young Indian.
Both the Gandhis have been questioned multiple times as part of its investigation into the deal.
Legal proceedings
ED’s action under Prevention of Money Laundering Act
The action by the ED has been taken under Section 8 and Rule 5(1) of the Prevention of Money Laundering Act (PMLA), which deals with the procedure for taking possession of attached properties that have been confirmed by the Adjudicating Authority.
Under this, occupants of such properties have been asked to vacate them.
One such notice was sent to Jindal South West Projects Limited, which currently occupies floors seven to nine in Mumbai’s Herald House building.
Attachment to the property
The pro forma attachment of ED’s properties to AJL Other properties under investigation include high-end real estate in Delhi, Mumbai, and Lucknow, as well as the iconic Herald House on Bahadur Shah Zafar Marg in downtown Delhi.
In November 2023, the ED provisionally attached AJL’s immovable properties worth ₹661 crore, along with AJL’s shares worth ₹90.2 crore.
These were confirmed by the Adjudicating Authority in April 2024, the Economic Times reported.
Conspiracy charges
Allegations of fraudulent acquisition of AJL’s assets
The case stems from a 2014 order by a Metropolitan Magistrate at Patiala House Court, based on a complaint by BJP leader Subramanian Swamy.
The complaint alleged that Sonia and Rahul, along with others, had entered into a criminal conspiracy to fraudulently acquire AJL’s assets—worth over ₹2,000 crore—for a mere ₹50 lakh.
In the course of its investigation, the ED has also carried out a number of searches and seizures, reaching the conclusion that Young Indian had acquired AJL’s extensive assets at a price that was significantly undervalued.