New Delhi, April 21 (ANI) — Senior Congress leader and former Finance Minister P. Chidambaram strongly criticized the Enforcement Directorate (ED) on Monday over its recent chargesheet in the National Herald case, calling the agency’s action a “blatant abuse of power” aimed squarely at Sonia Gandhi and Rahul Gandhi.
Addressing a press conference, Chidambaram delivered a detailed defense rooted in financial and legal arguments, asserting that there is no evidence of money laundering or financial misconduct, and questioned the ED’s jurisdiction in the matter.
“These are the facts — where is the crime? Where is the tainted money? Where is the offence of money laundering?” Chidambaram asked.
AJL’s Background and Restructuring
Chidambaram laid out the historical context of Associate Journals Ltd (AJL), which owns National Herald, Navjeevan, and Qaumi Awaz — newspapers with roots in India’s freedom movement. AJL, a public limited company, holds six properties across India, most of which are leasehold and government-allotted.
Between 2002 and 2011, Congress provided Rs 90 crore in financial support to the debt-ridden AJL to pay off statutory dues and salaries. In 2010, Congress leaders formed a not-for-profit company called Young Indian (YI), which later took over AJL’s debt after paying a Rs 50 lakh consideration. The loan was converted into equity, making YI the majority stakeholder.
Chidambaram emphasized that such restructuring is routine, citing the government’s own example of converting Vodafone’s Rs 36,000 crore liability into equity.
No Personal Gain, No Proceeds of Crime
He reiterated that Young Indian has never distributed any dividends or paid salaries to its directors, who are all senior Congress leaders. By law, as a not-for-profit company under Section 25 (now Section 8) of the Companies Act, YI cannot financially benefit its shareholders.
“There is no transaction of money. Without money, there are no ‘proceeds of crime’. Without proceeds of crime, there is no money laundering,” he stated.
Questioning ED’s Motives
Chidambaram pointed to a 2013 private complaint that triggered the original criminal proceedings, which have been stayed by the Delhi High Court since around 2020. He claimed the ED’s case, registered in 2023, is based on that still-pending complaint.
On April 9, 2025, the ED filed a chargesheet under the Prevention of Money Laundering Act (PMLA), a move Chidambaram said lacks legal merit and is instead politically motivated.
“This is a vendetta being carried out by the ED at the behest of its political masters,” he charged.
Congress Vows to Resist
Calling the case an assault on the integrity and reputation of Sonia Gandhi and Rahul Gandhi, Chidambaram declared that the Congress party will not remain silent.
“The entire Congress party will resist, fight back, and defeat this political assault. Truth will prevail. Justice will prevail. We will prevail,” he concluded.
The case continues to be a major flashpoint between the Congress and the ruling BJP, particularly in the lead-up to national elections, with the opposition framing it as a misuse of investigative agencies to settle political scores.
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