The Enforcement Directorate (ED) has intensified its investigation into the National Herald case, alleging that the Gandhi family conspired to usurp assets worth ₹2,000 crore belonging to the Associated Journals Limited (AJL). The ED conveyed to a Delhi court that the Congress party, under the direction of Sonia Gandhi and Rahul Gandhi, orchestrated a scheme to seize the assets of AJL, which published the National Herald newspaper.

The ED, represented by Additional Solicitor General (ASG) SV Raju, asserted that a conspiracy was hatched to form Young Indian, in which Sonia and Rahul Gandhi held a 76% share, to siphon off assets from AJL using a ₹90 crore loan obtained from Congress. The agency argued that this constituted a money-laundering operation, with Sonia and Rahul Gandhi being the ultimate beneficiaries.

Further, the ED has alleged that several senior Congress leaders were involved in "fake transactions" designed to funnel funds into AJL. According to the ED, these transactions included fabricated rent receipts and fraudulent advance rent payments made over several years at the behest of these leaders. The agency contends that advertising funds were also channeled to AJL under similar instructions.

The court questioned whether the donors and Congress leaders who made these payments should also be considered respondents, given their potential involvement in generating the proceeds of crime. The ED responded that it was investigating whether such individuals could be held liable and that further details would be presented in a supplementary chargesheet.

The ED has also raised concerns about certain share transactions, claiming that Suman Dubey transferred shares to Sonia Gandhi, and Oscar Fernandes transferred shares to Rahul Gandhi, who later returned them to Fernandes. The ED alleges that these transactions were merely on paper and lacked any real economic substance.

In May 2025, the ED informed a Delhi court that there was a prima facie case of money laundering against Sonia Gandhi and Rahul Gandhi, among others, in connection with the National Herald case. The agency's investigation began in 2021 after a magistrate court acknowledged a private complaint filed by BJP leader Subramanian Swamy in 2014, who alleged financial irregularities in the acquisition of Associated Journals Ltd.

The ED is also investigating allegations that Associated Journals Ltd's properties were acquired for a mere ₹50 lakh, significantly below their actual value, and is scrutinizing claims of rent agreements and fake donations worth crores being used to create illicit proceeds. The agency has the authority to name the Congress party as an accused in the case if sufficient evidence is found.