Key Points
The Enforcement Directorate has seized assets worth Rs 751.9 crore in a probe against Congress-linked entities Associated Journals Ltd (AJL) and Young Indian pertaining to a money laundering case..
(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 Rs661.69 crore and M/s..
Young Indian (YI) is in possession of proceeds of crime to the tune of Rs90.21 crore in the form of investment in equity shares of AJL, ED said in a statement...
After purchasing the loan of Rs 90.21 crore from AICC, Young Indian reportedly demanded either a repayment of the loan or allotment of equity shares of AJL to it, after which the latter passed a resolution to increase share capital and issue fresh shares worth Rs 90.21 crore to Young Indian..
The Income Tax Assessment accused the Gandhi family of controlling Young Indian by acquiring full control of AJLs real estate properties worth hundreds of crores by only paying Rs 50 lakh...
