HomeNationEnforcement Directorate Attaches Properties Worth Rs 751.9 Crore in National Herald Money-Laundering...

Enforcement Directorate Attaches Properties Worth Rs 751.9 Crore in National Herald Money-Laundering Case

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In a significant development, the Enforcement Directorate (ED) has taken a decisive step in the ongoing National Herald money-laundering case by provisionally attaching properties valued at a staggering Rs. 751.9 Crore. The ED’s move comes after meticulous investigations under the Prevention of Money Laundering Act, 2002 (PMLA).

The ED revealed that their probe into the case unearthed startling findings regarding the possession of proceeds of crime by Associated Journals Ltd. (AJL) and Young Indian (YI). According to the agency, AJL is found to be in possession of immovable properties across several cities, including Delhi, Mumbai, and Lucknow, with an estimated value of Rs. 661.69 Crore. Additionally, Young Indian allegedly holds proceeds of crime amounting to Rs. 90.21 Crore in the form of investments made in equity shares of AJL.

Issuing a provisional attachment order, the ED emphasized the gravity of the situation and highlighted the extensive nature of the assets under scrutiny. This latest action marks a significant stride in the ongoing investigation into the financial irregularities linked to the National Herald case.

The ED’s intervention and the attachment of these substantial assets signify a crucial development in the pursuit of justice in this high-profile case. The agency’s efforts aim to delve deeper into the alleged financial improprieties and money-laundering aspects, shedding light on the complex web of transactions and acquisitions.

The case has drawn widespread attention due to its implications and the involvement of prominent entities, sparking anticipation regarding further revelations and legal proceedings in the near future. As the investigations progress, the ED continues its rigorous pursuit of uncovering the truth behind this intricate financial affair.


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