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No corruption in Jay’s firm, did zero business with govt: Amit Shah

Jay’s company, Shah said, dealt in commodities such as rice and millet. “They (Opposition) are saying that the turnover of the company was Rs 80 crore, but they are not showing that it incurred a loss of Rs 1.5 crore. This is a high-volume, low-profit business. Where is money laundering in it,” said Shah

By: Express News Service | New Delhi | Updated: October 14, 2017 1:14 am
Jay shah, allahabad court, The Wire, jay shah hearing, Amit shah son, Jay Shah defamation case, Aaz Tak, india news, indian express news Amit Shah with his wife at their son Jay Shah’s wedding in Ahmedabad. (File Photo)

Five days after the website The Wire reported that the turnover of Amit Shah’s son Jay Shah’s company had grown 16,000 times after the BJP came to power at the Centre in 2014, the BJP president on Friday said that there is no question of corruption in his son’s firm, and that it had not done “even one rupee worth of business with the government”.

At a function hosted by Aaj Tak news channel in Gujarat, Shah said: “There is no question of corruption in business dealings of Jay Shah. The business was of commodity trade, which is (a) high-value, low-profit venture. If the company’s turnover becomes Rs 1 crore, its profit does not become Rs1 crore.” He said, “After achieving a turnover of Rs 80 crore, his company suffered a loss of Rs 1.5 crore. Despite this turnover, he did not earn profit. All the payments were made through cheque; there is no question of money laundering.”

On Wednesday, a Gujarat court had adjourned hearing on a criminal defamation petition filed by Jay Shah against The Wire for publishing the report on an application filed on behalf of senior lawyer S V Raju, representing Jay, on his non availability. Jay had also filed a civil defamation suit at Ahmedabad district (Mirzapur) court against the website and sought damages of Rs 100 crore. Slamming the Congress, the BJP president said that the opposition party did not file a single defamation suit despite facing several charges of corruption during the 10 years of UPA government. He said, “I want to raise some questions here. The Congress has faced many allegations of corruption. Has the party ever filed a criminal defamation, or a Rs 100-crore civil defamation suit? Why could it not gather the courage to file such a suit?”

“As far as the company (of Jay Shah) is concerned, it has not done business worth a rupee with the government. It has not got government land worth a rupee. It has not got any government contract worth even a rupee…. The company has not taken a commission, like in the case of Bofors,” Shah said, referring to the payoff scandal that had rocked the then Congress government.

Jay’s company, Shah said, dealt in commodities such as rice and millet. “They (Opposition) are saying that the turnover of the company was Rs 80 crore, but they are not showing that it incurred a loss of Rs 1.5 crore. This is a high-volume, low-profit business. Where is money laundering in it,” he asked. Asked about the loan given to the company, Shah said, “You have to understand first that it was not a loan, but a letter of credit. We were given a credit to lift material against cash deposits. Jay’s cash was lying in the bank, and we have paid the loan with interest.”

PTI inputs

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  1. I
    Iyer
    Oct 15, 2017 at 11:11 am
    Amit Shah is right. The congress sponsored media like wire with left association Siddharth Varadarajan and his journalist should be hanged in public for spreading malicious and false stores when Gujarat election are near. All media including Indian Express , NDTV ravish Kumar and all congress imbeciles should be jailed so that never in Life they will plant false stories and defame a Honest person,s inters ial. Since the damage is Done, the. Pity when found guilty of appeasing false stores they all should be jailed for ever.
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    1. S
      Sing is
      Oct 14, 2017 at 7:40 pm
      Aree Uncle , so why are you running away from investigation?
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        Shafted mohammed
        Oct 14, 2017 at 5:45 pm
        This is what I am referring to intolerance. Congress was accused hundreds of time of corruption but they never ever sued anybody and here this is not Evan a corruption charge and jay shah is suing for one hundred chores.
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          Ash
          Oct 14, 2017 at 5:12 pm
          People in similar situations having nothing to hide usually say ,let an investigation take place by independant authority or vigilance--- it will show no wrong has been committed--we have nothing to hide.No such offer?Ofcourse people in power can usually arrange a superficial inquiry.Similar to the construction of a project that's carried out on paper but is paid for in hard cash.
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            Ash
            Oct 14, 2017 at 4:48 pm
            Shah s comments that jay was doing" high volume - low profit business" and then says firm sufferrred losss of 1.5 Cr? How did it suffer loss if it was making small profits on each transaction.Perhaps he is hoping story should be killed because he now says firm sufferrred loss.But then how is jay going to pay back the loan from govt Banks,which should never have loaned him 80 crs as his firm was only making a few hundred RS in profit and doing miniscule business.For those gullible to think no wrong has been committed try and get a loan of ,3 lakhs to buy a car !A curosery glance at the facts shows external influences were in play,approvals came from higher levels as no bank manager would be that stupid.Main question is " do you just need to be a relative " to get high value loans such as 80 Cr".Maybe they added another column in application form-- are you related to influential figure?Why is the govt pushing an attorney general to fight jays case?Who will pay for that work,the govt?
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