On April 16, the Enforcement Directorate filed a chargesheet against Congress leaders Sonia Gandhi, Rahul Gandhi, and others in connection with alleged money laundering in the National Herald case. This latest development has stirred a political storm in India, with Congress leaders demonstrating their loyalty to Gandhi family by protesting against the Central Government. Meanwhile, several Congress members took to social media to defend the National Herald case, asserting that there is no corruption or wrongdoing and accusing the Modi government of conducting a politically motivated witch hunt against the Gandhis.
Congress leader Supriya Shrinate stated, “The Truth About AJL – Young Indian
❌ “Young Indian took over AJL” – False
❌ “The Gandhi family made huge profits from this” – False
❌ “Sonia ji and Rahul ji embezzled money” – False
▪️What is Associated Journals Ltd (AJL)?
• AJL is a publishing company that runs the National Herald newspaper. It was founded by Jawaharlal Nehru, Rafi Ahmed Kidwai, and Purushottam Das Tandon.
• National Herald was the voice of India’s freedom struggle at a time when most newspapers printed British propaganda. It was even banned by the British regime.
• AJL had accumulated significant debt, so between 2002–2011, the Congress Party gave it a loan of ₹90 crore through 100 bank transactions/cheques.
• This loan was used to pay VRS, gratuity, PF, taxes, and electricity bills.
▪️Why was Young Indian created?
• AJL had so much debt that it couldn’t continue operations. So, the debt was converted into equity and transferred to a newly formed company — Young Indian.
• This is a common practice. Even the government has converted many companies’ debts into equity through NCLT.
▪️Young Indian is a not-for-profit company
• Young Indian is a Section 25 not-for-profit company — which means it cannot distribute any profits, dividends, or salaries to its shareholders.
• It had four shareholders — Sonia Gandhi, Rahul Gandhi, Oscar Fernandes, and Motilal Vora (then party president, general secretary, organizational general secretary, and treasurer).
• AJL had 700 shareholders, and only after their approval in an EGM was the debt converted into equity, making Young Indian one of the shareholders.
▪️Young Indian did not take over AJL
• All assets and income belong to AJL, not Young Indian. Any rent received goes to AJL — not to Young Indian or its shareholders.
▪️AJL does not own property worth ₹5,000 crore
• Another lie is that AJL owns property worth ₹5,000 crore.
• Even the Income Tax Department valued AJL’s total property at just ₹359 crore.
• Today, AJL publishes Navjivan, National Herald, Qaumi Awaaz, and runs websites and social media platforms.
▪️Case Timeline
• In 2013, Subramanian Swamy filed the case in court — and pursued it until 2020.
• Later, he began speaking out against Modi and Shah, which made them insecure.
• Out of fear, the government filed a fresh case on its own.
▪️In 2023, the government’s ED issued a provisional order of attachment.
▪️On April 10, 2024, the tribunal confirmed this provisional order. The ED then had 365 days to file a chargesheet.
▪️On the 365th day — April 9, 2025 — they filed this fabricated chargesheet, which has been made public now.
🔺You’ve been in power for 11 years, and still have no proof, no evidence, nothing — or else you wouldn’t have had to wait till the last day.
👉 This isn’t just a sign of your desperation, it also reflects your moral and mental bankruptcy.
👉 Mr. Modi, this is the Congress Party. The blood of Sonia Gandhi and Rahul Gandhi’s ancestors is mixed with the soil of this nation. Save your cowardly threats for someone else.
👉 We will continue to raise our voice — against your failures, your crony capitalism, your politics of hate, your role in rising unemployment and helplessness, and the plight of women, Dalits, backward classes, and Adivasis right under your nose.”
AJL – Young Indian का सच
— Supriya Shrinate (@SupriyaShrinate) April 16, 2025
❌Young Indian ने AJL को takeover कर लिया – झूठ
❌गांधी परिवार इससे खूब पैसा बना रहा है – झूठ
❌सोनिया जी और राहुल जी ने पैसे की हेराफेरी की – झूठ
▪️Associated Journals Ltd क्या है?
• Associated Journals Ltd एक अखबार निकालती है, नाम है -… pic.twitter.com/TS3rvGBvOS
Congress Party, along with Congress leaders like Pawan Khera, Gaurav Pandhi, and supporters such as Amit have shared similar claims, asserting that there was no corruption or wrongdoing in the National Herald case.
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Fact Check
In this article, we will present the facts from the official side and outline the key developments in the National Herald case. Specifically, we will address and counter five claims made by Congress spokesperson Supriya Shrinate:
1- Did Associated Journals Limited (AJL) really have only 700 shareholders?
2- Did Young Indian not take over AJL?
3- Is Young Indian (YI) truly a non-profit organization?
4- Did AJL own property worth only ₹200 crore?
5- Was consent from all stakeholders obtained before transferring AJL’s shares to Young Indian?
1- Did Associated Journals Limited (AJL) really have only 700 shareholders?
Fact: According to a Business Standard report published on December 13, 2015, The Associated Journals Limited (AJL) stated in its annual report that, as of September 29, 2010, it had 1,057 shareholders. However, senior Congress leaders and former Union ministers like Kapil Sibal and P. Chidambaram have recently claimed in interviews that the number was 761.
Earlier, on September 30, 2009, AJL had reported 1,062 shareholders. A year later, the number slightly declined to 1,057. By 2011, the shareholder count had increased to 1,089 and remained unchanged until 2014. This indicates that in 2011, apart from Young Indian, 31 new shareholders were added to AJL’s records. The company had yet to file shareholder data for 2015 at the time of the report.
The figure from 2010 (1,057) is particularly important, as it precedes the extraordinary general meeting (EGM) where Young Indian, a non-profit entity, was granted majority shareholding in AJL.
Additionally, the names of all 1,089 shareholders as of 2011 are publicly available on the PGurus website.
Therefore, the claim that AJL had only 700 shareholders is demonstrably false, as both the Business Standard report and the publicly available shareholder list confirm that AJL had 1,089 shareholders in 2011.
2- Did Young Indian not take over AJL?
Fact: Publicly available data shows that in 2011, The Associated Journals Ltd (AJL) had a total of 9,11,48,821 shares — out of which Young Indian alone held 9,02,16,898 shares. This means Young Indian controlled around 99% of the company. Even someone with basic knowledge of company law knows that owning over 51% of a company gives you majority control. In this case, Young Indian had nearly full ownership of AJL.
To understand how this happened, we need to go back to 2010. According to a 2022 Indian Express report:
1- The National Herald newspaper was started in 1938 by Jawaharlal Nehru. It was published by AJL, a Section 25 (not-for-profit) company, which also published Qaumi Awaz in Urdu and Navjeevan in Hindi.
2- AJL owned valuable real estate in cities like Delhi, Mumbai, Lucknow, Patna, and Panchkula.
3- Due to overstaffing and low revenue, AJL began to incur heavy losses and stopped publishing in April 2008.
4- After that, AJL’s main income came from renting out or using its property, such as its key building at Herald House in New Delhi.
5- By the end of 2010, AJL’s debt had grown to over ₹90 crore. Although its properties were reportedly worth much more (over ₹413 crore, according to the Income Tax Department), AJL’s management made no visible effort to repay the loan from the Congress party (AICC).
Then, on November 23, 2010, a new company called Young Indian Pvt Ltd was created as a Section 25 company. It initially had Gandhi family loyalists Suman Dubey and Sam Pitroda as directors. However, they quickly transferred their shares to Congress leaders Sonia Gandhi, Rahul Gandhi, Oscar Fernandes, and Motilal Vora.
1- On December 13, 2010, Rahul Gandhi became a director of Young Indian.
2- Sonia Gandhi joined as director on January 22, 2011.
3- By March 2017, Sonia and Rahul Gandhi each held 38% of Young Indian’s shares. The remaining 24% was split equally between Vora and Fernandes.
Young Indian also registered under Section 12A of the Income Tax Act as a charitable organization — making it eligible for full tax exemption.
Soon after it was formed, the Congress party (AICC) transferred AJL’s ₹90 crore debt to Young Indian. For this, Young Indian paid only ₹50 lakh. In return, the debt was converted into equity (shares), and AJL issued 9.02 crore shares to Young Indian — giving it near-total control.
It means, after Young Indian was created, the Congress party gave it the right to collect a ₹90 crore loan that AJL owed to the party. In exchange, Young Indian paid just ₹50 lakh — which is a tiny amount compared to ₹90 crore. Then, instead of paying back the loan in cash, AJL gave Young Indian company shares worth the same amount as the loan of 9.02 crore shares. Because of this, Young Indian became the owner of almost all of AJL, giving it control over the company and its valuable properties.
The Income Tax Department later alleged that Rahul Gandhi and Priyanka Gandhi Vadra further increased their control over AJL by purchasing thousands more shares through two trusts — Rattan Deep Trust and Janhit Nidhi Trust.
Interestingly, at the time of this deal, Young Indian didn’t even have the ₹50 lakh needed to pay AICC. Instead, it took a loan of ₹1 crore from Dotex Merchandise Pvt Ltd, a Kolkata-based company. According to the IT Department, Dotex was known for providing fake transactions (called accommodation entries) in exchange for commission. Dotex is now owned by the RPG Group.
This ₹1 crore loan was later flagged as a suspicious transaction by the Financial Intelligence Unit (FIU) of the Finance Ministry. Also worth noting: AICC transferred AJL’s debt to Young Indian on December 28, 2010, but Young Indian hadn’t even paid the ₹50 lakh by then. In fact, it didn’t even have a bank account at that point.
The IT investigation also revealed that Young Indian had already started operating from Herald House a property owned by AJL without any official rental agreement or paying any rent.
Therefore, the claim that Young Indian majorly owned by the Gandhis does not own AJL is a blatant lie. An Indian Express report clearly highlights how Young Indian, a company that didn’t even have a functioning bank account or the ₹50 lakh required for the deal, suspiciously acquired near-total control of AJL. The entire transaction reeks of manipulation raising serious questions about transparency, intent, and legality. This wasn’t a routine business move. It was a calculated corporate maneuver that handed over a company with massive real estate assets to a politically connected private entity for peanuts.
3- Is Young Indian (YI) truly a non-profit organization?
Fact: According to Moneycontrol, the Enforcement Directorate (ED) has presented its case by stating that the transfer of AJL shares to Young Indian Ltd. (YIL) was not for charitable purposes, but rather a strategic corporate move to gain control over prime real estate. The loan from the Congress to AJL was essentially a sham transaction designed to facilitate this takeover. Since YIL, being a Section 25 company, is not allowed to distribute profits, the ED argues that the real value lay not in earning dividends but in gaining control over valuable assets.
The Times of India report published on June 2, 2022, noted that, according to the ED’s preliminary investigation, the company controlled by the Gandhi family which was started with just Rs 5 lakh and now owns properties worth Rs 800 crore across the country. One such property is the Herald House in Delhi, located on Bahadur Shah Zafar Marg near ITO, which currently houses a passport office.
Additionally, The Economic Times, in a report dated April 17, 2025, cited the ED’s statement, “As regards YI, the ED argued that contrary to its Memorandum of Agreement, YI was not involved in any ‘charitable activity’. The agency further contended that ‘it is evident that YI was in fact created as a sham/cloak to convert public money for personal use or as a special purpose vehicle for acquiring control over ₹2,000 crore worth of assets of AJL. The accused persons have allegedly acted in concert with each other to achieve this nefarious purpose/design. There are sufficient grounds for proceeding against all of them.”
The ED also added, “By taking over AJL, YI had taken complete control over the properties of AJL. The accrued benefit to YI includes the right to enjoy all the benefits embodied in the commercial assets held by AJL at several prominent locations in the country, proportionate to YI’s shareholding in AJL.”
In plain terms, the ED is saying that Young Indian (YI) was never meant to be a charitable organization as it claimed. Instead, it was a front, a carefully planned setup to grab control of property worth over ₹2,000 crore that originally belonged to AJL. The Gandhis and their close aides allegedly worked together to turn public money into personal gain. YI didn’t just acquire shares—it took over valuable real estate across the country without paying even a fraction of its true worth. This wasn’t charity; it was a calculated land grab disguised under legal loopholes.
4- Did AJL own property worth only ₹200 crore?
Fact: We found that an Enforcement Directorate (ED) press release dated April 12, 2025, states, “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 the 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 served notices to property registrars in Delhi, Mumbai, and Lucknow—jurisdictions where AJL properties are located.
A notice under Rule 5(3) of the said rules was also served on 11.04.2025 to M/s Jindal South West Projects Limited, which occupies the 7th, 8th, and 9th floors of Herald House, Bandra (E), Mumbai, directing them to transfer the rent/lease amount every month in favour of the Director, Directorate of Enforcement.
These properties were attached after an extensive investigation by the ED, which revealed significant generation, possession, and use of proceeds of crime to the tune of ₹988 crores.
Therefore, to secure these proceeds and prevent the accused from dissipating them, AJL’s immovable properties in Delhi, Mumbai, and Lucknow valued at ₹661 crores, along with AJL shares worth ₹90.2 crores, were provisionally attached through an order dated 20.11.2023. The attachment was confirmed by the learned Adjudicating Authority on 10.04.2024.”
The press release further adds, “The ED has conducted searches and seizures at multiple locations, uncovering incriminating documents linked to alleged money laundering activities. Investigation under PMLA 2002 has conclusively revealed that Young Indian, a private company beneficially owned by Smt. Sonia Gandhi and Shri Rahul Gandhi, acquired AJL properties worth ₹2,000 crores for a mere ₹50 lakh—grossly undervaluing their true worth.”
A 2012 Live Mint article reads, At the core of the controversy surrounding Associated Journals Ltd (AJL) which published now-defunct publications like the National Herald, Navjivan, and Quami Awaz is the vast real estate it owns, potentially worth several hundred crores.
Documents filed by Young Indian in March 2012 with the Registrar of Companies (RoC), and AJL’s filings from 2004-05 to 2009-10, show ownership of buildings and land parcels in at least four cities: Delhi, Mumbai, Patna, and Panchkula (near Chandigarh), Haryana.
A New Delhi-based real estate expert estimated land near Herald House to be valued at ₹200 crore per acre, though precise valuation was difficult due to lack of exact size details. The 3,500 sq. m. land in Sector 6, Panchkula, was said to be worth approximately ₹1 lakh per sq. m. A Mumbai-based expert placed the market value of AJL’s Bandra property at around ₹60–70 crore. Live Mint could not verify the nature or value of property held by Young Indian in Patna.’
A 2023 report in The Hindu stated, The Enforcement Directorate said it had provisionally attached properties worth ₹751.90 crore in connection with a money laundering case involving Associated Journals Ltd. (AJL), which runs the National Herald newspaper, and Young Indian. The agency alleged that former AJL office-bearers and the Congress Party had deceived AJL shareholders and party donors.
Thus, the ED is essentially saying that Sonia Gandhi and Rahul Gandhi, through their company Young Indian, pulled off a massive real estate grab by using just ₹50 lakh to take control of assets worth ₹2,000 crore. What was supposed to be a charitable venture was, according to the ED, just a front and a sham operation set up to hijack valuable public property and convert it into private wealth. The agency claims this was done by misusing Congress party funds, cheating shareholders, and laundering money. In short, the ED believes this was not just a financial fraud but it was a calculated abuse of power for personal gain.
5- Was consent from all stakeholders obtained before transferring AJL’s shares to Young Indian?
Fact: No. According to a Business Standard report from December 2015, former Supreme Court judge Markandey Katju and some legal heirs of other shareholders claimed they were not notified about the transfer of Associated Journals Ltd. (AJL) shares to Young Indian.
Further, a July 2016 The Indian Express investigation revealed that at least 10 shareholders they spoke to confirmed that the AJL management did not seek their consent before transferring shares to Young Indian. The report noted that Justice Markandey Katju, whose grandfather Kailash Nath Katju held 131 shares in AJL, was never consulted.
Former Congress MP Vishwa Bandhu Gupta, who held 10 shares, said he did not recall attending any meeting regarding the transfer and declined to comment further. Mohan Meakin Breweries, which owned 5,000 shares, also did not confirm whether they were approached for approval. Prominent businesswoman Jyotsna Suri, CMD of Bharat Hotels, held 50,000 shares.
Some shareholders reportedly considered legal action. Former Union Law Minister Shanti Bhushan, whose father was a shareholder, openly questioned the legitimacy of the deal and even challenged it in court.
Therefore, the claim that all shareholders were taken into confidence before transferring AJL’s ownership to the Gandhis is a blatant lie. The Indian Express report listed at least 10 major shareholders who were not consulted prior to the decision.
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