Senior advocate Abhishek Manu Singhvi, representing Congress chief Sonia Gandhi, argued that the Enforcement Directorate’s (ED) Nationwide Herald case is ‘really an odd’ one, information company PTI stated.
Singhvi started his rebuttal after further Solicitor Normal SV Raju for the ED on July 3 concluded his arguments on the purpose of cognisance of the chargesheet filed within the case.
“That is really an odd case. Greater than unusual. Unprecedented. That is an alleged case of money laundering, with none property, with out use or projection of property,” Singhvi argued.
The company has accused Sonia and Rahul Gandhi, late Congress leaders Motilal Vora and Oscar Fernandes, Suman Dubey, Sam Pitroda, and a personal firm, Younger Indian, of conspiracy and cash laundering over the fraudulent takeover of properties valued over ₹2,000 crore”> ₹2,000 crore belonging to the Associated Journals Limited (AJL), which revealed the Nationwide Herald newspaper.
Sonia and Rahul have been named as accused #1 and quantity 2 within the chargesheet. This was the primary time a chargesheet had been filed in opposition to Sonia Gandhi and Rahul Gandhi.
The ED alleges that the Gandhis held the bulk 76 per cent shares in Younger Indian, which fraudulently usurped AJL’s belongings in change for a ₹90 crore mortgage.
Singhvi, nonetheless, submitted that the train was undertaken to make AJL debt-free.
“Each firm is entitled beneath legislation and does, every single day, make their corporations get free by a wide range of devices. So that you take away the debt and assign it to a different entity. So this firm turns into debt free,” Singhvi stated.
‘Not-for-profit firm’
He stated that Younger Indian was a not-for-profit firm. “This implies it can not give dividends, perks, salaries, or bonuses. It can provide nothing,” the senior lawyer argued.
Singhvi stated the ED didn’t do something for a number of years and as an alternative picked up a personal criticism.
“They’re, clearly individuals related to the Congress. To have the Nationwide Herald in a physique not related to the Congress can be worse than having Hamlet with out the Prince of Denmark,” he stated.
Singhvi continued by mentioning the grounds on which the current court docket didn’t have the jurisdiction to strive the case.
On July 3, Raju argued on the purpose of chargesheet’s cognisance, saying the Gandhis have been the “useful house owners” of Younger Indian and purchased its total management after the loss of life of different shareholders.
The ED filed its chargesheet in opposition to the Gandhis and others beneath Sections 3 (cash laundering) and 4 (punishment for cash laundering) of the Prevention of Cash Laundering Act (PMLA).
That is really an odd case. Greater than unusual. Unprecedented. That is an alleged case of cash laundering, with none property, with out use or projection of property.
The chargesheet additionally names Dudey, Pitroda, Sunil Bhandari, Younger Indian, and Dotex Merchandise Non-public Restricted.
