New low in politics: Kapil Sibal slams ED's attachment of National Herald assets

Rajya Sabha MP Kapil Sibal on Wednesday slammed the Enforcement Directorate for attaching assets of the Congresspromoted National Herald newspaper and described it as a new low in politics reported news agency PTIKapil Sibal a former Congress leader also alleged that the probe agency has been acting at the behest of the powers that be reported PTIThe Enforcement Directorate ED said on Tuesday that it has attached immovable assets and equity shares worth about Rs 752 crore as part of its ongoing money laundering investigation against the National Herald newspaper and companies linked to it reported PTIThe provisional attachment order came as elections in five states of Chhattisgarh Madhya Pradesh Rajasthan Telangana and Mizoram are in progress and the counting of votes is scheduled to be held on December 3 reported PTIIn a post on X Kapil Sibal said Young IndianYI Associated Journals LtdAJL ED attaches 752cr worth properties of AJL Allege YI shareholders owners of AJLs assets Cheating and Breach of trust Law Shareholders are never owners of companys assets YI a not for profit company A new low in politicsSpeaking with PTI later the senior advocate said When ignorance is bliss it is a folly to be wise I dont think the ED should be ignorant about the law A shareholder is a shareholder the property is owned by the companyIf the company goes into liquidation nothing comes to the shareholder So who has cheated who Where is the breach of trust Who has conspired I think they know the law I think courts also know the law So I am a little baffled Sibal said reported PTIBut what has happened in the country today is that the ED is acting on the instructions of the powers that be he said reported PTIThe other thing which is more important is that it is a Section 25 company it is not for profit If AGL is wound up it will go to another not for profit company Young India will go to another not for profit company Sibal said reported PTIThe problem in this country is that we have a narrative that is associated with the media and the narrative is started by investigating agencies to destroy peoples reputation Now this trial will take years and the powers that be will go from speech to speech before 2024 polls they will say see these people have cheated when we all know there is no basis for this he addedThe Congress termed the ED action petty vendetta tactics and said the agency is a coalition partner of the BJP which it claimed is staring at a certain defeat in the assembly pollsKapil Sibal who was a Union minister during UPA I and II quit the Congress in May last year and was elected to the Rajya Sabha as an Independent member with the Samajwadi Partys supportHe has floated a nonelectoral platform Insaaf aimed at fighting injusticeWith inputs from PTI