Brief by Shorts91 Newsdesk / 09:08pm on 21 Nov 2023,Tuesday Politics
The Enforcement Directorate seized assets worth Rs 751.9 crore in a money laundering probe against Congress-linked entities Associated Journals Ltd (AJL) and Young Indian. The ED started the money laundering investigation based on a court order following a complaint in 2014. A Delhi court found AJL closed operations but used the land allotted at concessional rates for commercial purposes instead of publishing. It should have repaid a Rs 90 crore AICC loan but AICC sold it to newly formed Young Indian for just Rs 50 lakh. Young Indian later took over AJL, reducing other shareholders to 1%. This cheated AJL shareholders and Congress donors, the court had observed. Congress leader Abhishek Singhvi called the massive asset seizure a " distraction created by BJP to divert attention from their defeat in upcoming polls."
