NEW DELHI: Arguments continued in National Herald money laundering case on Monday before special judge Vishal Gogne of a Delhi court, with Young Indian Private Ltd , one of the defendants, contending that ED's chargesheet contradicted the income tax department's finding.
Advocate Madhav Khurana, representing Young Indian, said according to I-T department, Rs 90 crore loan - allegedly given to Associated Journals Limited (AJL), a company that published the National Herald newspaper - was "a sham transaction". "Monies never flew, but that became the basis of the case. If two arms of govt are taking a different stance, how is the offence possible?" he asked.
ED alleges that Young Indian, in which Sonia Gandhi & Rahul Gandhi owned 76% stakes, fraudulently usurped AJL's assets valued at Rs 2,000 crore in exchange for a loan of Rs 90 crore. ED's counsel had earlier said that AICC released Rs 90 to AJL with the intent to take over its properties through Young Indian.
Another accused, Dotex Merchandise Pvt Ltd, argued that the ED wrongly proceeded in the case as it registered an ECIR (equivalent to FIR) on June 30, 2021, without obtaining a registered copy of the original complaint by Subramanian Swamy.
Advocate Madhav Khurana, representing Young Indian, said according to I-T department, Rs 90 crore loan - allegedly given to Associated Journals Limited (AJL), a company that published the National Herald newspaper - was "a sham transaction". "Monies never flew, but that became the basis of the case. If two arms of govt are taking a different stance, how is the offence possible?" he asked.
ED alleges that Young Indian, in which Sonia Gandhi & Rahul Gandhi owned 76% stakes, fraudulently usurped AJL's assets valued at Rs 2,000 crore in exchange for a loan of Rs 90 crore. ED's counsel had earlier said that AICC released Rs 90 to AJL with the intent to take over its properties through Young Indian.
Another accused, Dotex Merchandise Pvt Ltd, argued that the ED wrongly proceeded in the case as it registered an ECIR (equivalent to FIR) on June 30, 2021, without obtaining a registered copy of the original complaint by Subramanian Swamy.
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