In New Delhi on December 01, Dr. Abhishek Manu Singhvi said that the ED and the BJP government deserve a Nobel Prize for fabricating a crime where none has been committed. He described this action as a tactic to distract the public from the country’s major problems, such as a deteriorating economy, unemployment, and a failed foreign policy. The Congress leader recounted the history of Associated Journals Limited, the company that publishes the National Herald, and explained its financial restructuring process. He pointed out that the company had stood against the British during the British era. It has often been observed that institutions founded on idealism fail to perform well financially. This is precisely what happened with AJL, and it became financially weak. To keep that torch of ideals burning, the Indian National Congress periodically provided loans to AJL, which at one point reached ¹ 90 crore. Therefore, to make the company debt-free, it was decided to convert the debt into equity, a common practice in the business world. A non-profit company called ‘Young Indian’ was formed to achieve this. This company included Congress leaders such as Smt. Sonia Gandhi, Shri Rahul Gandhi, Shri Motilal Vora, Shri Sam Pitroda, Shri Suman Dubey, and Shri Oscar Fernandes.

Shri Singhvi stated that AJL’s debt was transferred to ‘Young Indian’, resulting in ‘Young Indian’ holding 99 percent of AJL’s shareholding. He emphasized that, as a not-for-profit company, ‘Young Indian’ cannot earn any profits, nor do its directors receive any salaries or allowances. He said that since there was no monetary transaction, no profit earned, and no transfer of movable or immovable property, the question of money laundering does not arise in this entire episode.

Shri Singhvi questioned the ED’s motives for the current action, pointing out that a charge sheet has already been filed in this case, which is currently pending in the Rouse Avenue Special Court. The Congress leader explained that he himself had argued that this charge sheet was invalid, as the ED Act states that only an authorized officer can file a complaint. However, in this case, Subramanian Swamy had filed a personal complaint in court. The case was initiated based on this private complaint, and after some time, Subramanian Swamy himself obtained a stay on the complaint from the High Court. This means that the case involved only a private complaint; there was never a government complaint, and even that private complaint was stayed by the complainant himself. Shri Singhvi stated that he had argued four months ago that the ED had no role to play since there was no government complaint in this case. The court’s decision is still reserved. He added that this new FIR was filed hastily to address this legal weakness.

Political Vendetta and Mindless Attempts

In an X post, Congress President Shri Mallikarjun Kharge said, “12 years on and suddenly a new FIR in the old case on the Gandhi Family targeting the Congress Party. Simply because the Modi Govt and the ED have exhausted their supply of fresh smears. When facts ran thin, theatrics stepped in: selective prosecutions, recycled allegations, and a thinly-veiled attempt to keep opponents in the dock. We are confident that the Judiciary will see through this political vendetta and mindless attempts to hound!

Truth Has Prevailed

The malafide and illegality of the Modi govt stands fully exposed. Proceedings of ED against the Congress leadership – Smt. Sonia Gandhi Ji and Shri Rahul Gandhi Ji, in the Young Indian case have been found completely illegal and malafide by the Honourable Court.

On 16 December 2025, the court has ruled that the ED case is without jurisdiction, it has no FIR without which there is no case. This politically motivated prosecution by the Modi government over the last decade, of the principal Opposition party stands exposed before the people of India. No case of money laundering, no proceeds of crime and no movement of property – all baseless charges that have been a part of political witch hunt, propaganda, reputation assassination and campaign which stands defeated today.

Congress party and our leadership are committed to fighting for truth and for rights of every Indian – we cannot, and will not be ever intimidated – because we fight for the truth.