Young Indian-AJL transaction a sham: ASG in Herald case

NEW DELHI: Additional solicitor general SV Raju claimed before a Delhi court Tuesday that transaction between Associated Journals Ltd and Young Indian Pvt Ltd was a sham transaction in an alleged money laundering case in the National Herald matter.

"All India Congress Committee was given funds, which were to be used properly, but the way they used Rs 90 crore shows they committed criminal breach of trust," the ASG argued. The ASG's arguments will continue Saturday before the court of special judge Vishal Gogne, which is hearing arguments on the point of cognisance of chargesheet filed against Sonia Gandhi , Rahul Gandhi , & others. Court posted the matter to July 12 for further proceedings.

After rebuttal arguments by all seven accused in the case were completed Tuesday, the ASG submitted his rebuttals before the court. According to ED, Sonia and Rahul Gandhi, along with others and Young Indian, conspired to launder money by fraudulent takeover of properties valued over at Rs 2,000 crore belonging to AJL. As per ED, the Gandhis held a majority 76% shares in Young Indian, which fraudulently usurped assets of AJL in exchange for a Rs 90 crore loan.