Union Minister Piyush Goyal is reacting to the allegations against BJP national president Amit Shah’s son Jay Shah, whose company allegedly posted a turnover of Rs 80.5 crore in 2015-16. The Congress alleged that the company’s turnover rose by 16,000 times in just one year after the BJP came to power at Centre.
Citing company filings with the Registrar of Companies (RoC), the Congress said it was surprising to see a company with no inventory or assets show a turnover of Rs 80.5 crore.
“How can a company with no stock, no inventory, no assets, has a turnover of 80 crores? Isn’t it surprising? And suddenly after a change in the government… Yahi crony captalism aur kya (This is crony captalism, what else is),” Senior Congress leader Kapil Sibal said at a press conference in New Delhi.
Sibal demanded Prime Minister Narendra Modi to initiate a probe into the company’s dealings. “Will the PM ask CBI to act? will arrests take place? Is PM honest enough to say probe Amit Shah’s son?” he said.
5.28 pm: The name Jay Amit Bhai Shah is used in the title, by giving this mischievous title they are trying to defame Amit Shah: BJP
5.24 pm: All loans taken by Jay Shah were in accordance with law and were paid back with full interest, well within the time limit: BJP
5.22 pm: Jay Shah will file civil and criminal prosecution for defamation in Ahmedabad Court, Goyal said.
5.20 pm: The article is trying to damage reputation of our leader Amit Shah: BJP on the article.
5.15 pm: Describing the article as “completely malicious”, Goyal said the BJP rejects any allegation sought to be made against Jay Shah or any of their leaders.
5:10 pm: Reflecting on the allegations, Goyal said Jay Shah will file criminal defamation suit of Rs. 100 crore against author (of article), editor and owner of news website The Wire.
5.00 pm: Defending Jay Shah, BJP’s national IT cell chief Amit Malviya, in a series of tweets, said: “Every new business starts with nil turnover on day one, expands later. What is wrong with legitimate expansion of business? This was a legitimate commodity export import business, where volumes are high and margins are low so 16,000x misleading. Is Jay Shah not allowed to take loan on market rates of interest from a registered NBFC? Where is the favour / impropriety? Since when has taking a loan by cheque become illegal? Jay Shah company took a loan from NBFC, disclosed it in income tax.”
4.50 pm: Congress vice-president Rahul Gandhi alleged that Amit Shah and his son were the main beneficiaries of demonetisation. “We finally found the only beneficiary of Demonetisation. It’s not the RBI, the poor or the farmers. It’s the Shah-in-Shah of Demo. Jai Amit,” he tweeted.
4.40 pm: The Aam Aadmi Party also demanded a probe. “Party wants that the company records should be probed for signs of money laundering as well. Amit Shah should also be questioned on this,” said APP.