Special judge Vishal Gogne reviewed the chargesheet, filed on April 9, focusing on the issue of cognisance, and scheduled further proceedings for April 25.
CNN-News18 has exclusively obtained details regarding the ED investigation and chargesheet.
As per this information, the ED’s inquiry is linked to the cognisance order dated 26.06.2014 issued by Ld. Metropolitan Magistrate-02 (MM-02) at Patiala House Courts, New Delhi. This order followed a private complaint lodged by Subramanian Swamy in 2013 against Sonia Gandhi, Rahul Gandhi, Motilal Vohra, Oscar Fernandes, Suman Dubey, Sam Pitroda, and M/s Young Indian, alleging violations of sections 403, 406 & 420 r/w sec 120(B) of IPC, 1860.
The accused challenged this cognisance order in the Delhi High Court and later in the Supreme Court of India. However, both courts refused to intervene in the trial process.
The primary allegation suggests that in 2010, key officers of Associated Journals Limited (AJL), Young Indian (YI), and important members of the All India Congress Committee (AICC) conspired to misappropriate properties valued at approximately ₹2,000 crore of AJL (a public unlisted company) by transferring 99% of the shares to Young Indian, a private entity, for merely ₹50 lakh, where Sonia Gandhi and Rahul Gandhi jointly owned 76% of the shares.
The ED claims that the accused, through a criminal conspiracy, converted an outstanding loan of ₹90.21 crore from AICC to AJL into 9.02 crore equity shares and transferred those shares to Young Indian for just ₹50 lakh. By transferring the majority ownership of AJL to YI, the accused effectively shifted the beneficial ownership of AJL’s vast properties worth thousands of crores to Sonia Gandhi and Rahul Gandhi.
The investigation reportedly shows that Young Indian was significantly controlled by Rahul Gandhi and Sonia Gandhi since they held 76% of the shares through a strategic conspiracy. The remaining 24% of shares were jointly held by the late Motilal Vohra and the late Oscar Fernandes, close associates of Sonia Gandhi and Rahul Gandhi.
Despite Young Indian being incorporated as a Section 25 Company (non-profit/charitable), the investigation found no evidence of any charitable activities or related expenses during its operational years, according to the ED.
Furthermore, it indicates that because of the money laundering offenses concerning the generation, possession, and utilization of proceeds from crime in the form of AJL shares and assets worth thousands of crores, properties of AJL valued at approximately ₹752 crore have been provisionally attached. This was confirmed by the Ld. Adjudicating Authority following an order issued on 20.11.2023 by the Directorate of Enforcement.
Independent findings from the ED’s investigation under PMLA are corroborated by the Income Tax Department’s Assessment Order dated 27.12.2017 concerning Young Indian for AY 2010-11. In 2017, the I-T department allegedly identified significant tax violations exceeding ₹414 crore connected to Young Indian for unlawfully acquiring AJL properties. The Assessment Order dated 27.12.2017 states that key office bearers of AICC (including Sonia Gandhi, Rahul Gandhi, Motilal Vora, and Oscar Fernandes) and AJL (namely Motilal Vora and Oscar Fernandes) orchestrated a scheme filled with premeditated artificial and deceptive measures to take over AJL.
The alleged aim of this scheme was twofold: to gain valuable business assets of AJL while evading taxes on the resultant income. Young Indian challenged this assessment order, leading to a reassessment that reported an income of ₹398 crores for Young Indian.
YI was established as an SPV on 23.11.2010. AJL ceased its publishing activities in 2008 and possessed properties worth hundreds of crores of rupees.
The ED claims that a criminal conspiracy was plotted by the accused to transfer control of AJL properties valued in the hundreds of crores to the beneficial owners of YI, namely Sonia Gandhi and Rahul Gandhi.
YI insisted that AJL repay the ₹90.21 crore loan allocated by AICC or convert this loan into equity. The same individuals were appointed to positions within AJL, YI, and AICC. A loan of ₹90.21 crore was assigned to YI for a nominal fee of ₹50 lakh, facilitated by resolutions passed by individuals in positions across these three entities, as stated by the probe agency.
AJL convened an EGM to raise its authorized capital and convert YI’s loan into equity. The ED alleges that YI was allocated 9.021 crore shares of AJL.
The EGM featured the same individuals who passed a resolution to augment AJL’s authorized share capital and convert YI’s loan into equity.
YI allegedly became AJL’s holding company by controlling 99% of the shares, diminishing the equity stake of other shareholders to just 1%.
According to the investigation, through the executed criminal conspiracy, the control of AJL’s assets worth hundreds of crores was handed over to the beneficial owners of YI.
Based on extensive investigations, including the collection of various documents, recording statements of the accused and witnesses, and tracing money flows, the ED filed a chargesheet (prosecution complaint) on 09.04.2025 under PMLA, 2002, against the following individuals for money laundering involving proceeds of crime valued at over ₹5,000 crore.
a. Smt. Sonia Gandhi, as Accused No. 1.
b. Sri Rahul Gandhi, as Accused No. 2.
c. Sri Suman Dubey, as Accused No. 3.
d. Sri Sam Pitroda, as Accused No. 4.
e. M/s Young India, as Accused No. 5.
f. M/s Dotex Merchandise Pvt Ltd, as Accused No. 6.
g. Sri Sunil Bhandari, as Accused No. 7.
The next hearing for the cognisance of the ED chargesheet is set for 25.04.2025.
