ED seals premises of Young Indian office in Delhi

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Capital Market
Last Updated : Aug 04 2022 | 2:17 PM IST
The Enforcement Directorate (ED) sealed the Young Indian Limited office located in the National Herald building in New Delhi on Wednesday (3 August 2022).

ED took action a day after it carried out searches at 12 locations in the National Herald case money laundering case.

The ED is investigating alleged financial irregularities at Young Indian Private Limited, which owns the National Herald newspaper.

The National Herald case under the Prevention of Money Laundering Act (PMLA) was registered about nine months ago after a trial court took cognizance of the Income Tax (I-T) department probe carried out on the basis of a private criminal complaint filed by former BJP MP Subramanian Swamy in 2013.

The petitioner had approached the court alleging that the assets of Associated Journals Limited (AJL), which published the National Herald newspaper, were fraudulently acquired and transferred to Young Indian Pvt Limited (YIL), in which Sonia Gandhi and Rahul Gandhi owned 38% shares each.

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First Published: Aug 04 2022 | 12:32 PM IST

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