Hours after a story published by The Wire alleged that a company run by BJP national president Amit Shah’s son, Jay Shah, had allegedly posted a turnover which was 16,000 times that of previous year, Union Minister Piyush Goyal termed the allegations as “derogatory, defamatory, hallowed and baseless”.
Saying that there is “absolutely no substance whatsoever” in the story reported by The Wire, Goyal claimed the online news portal was trying to damage the reputation of Amit Shah.
“Mr Jay Shah, son of Amit shah, has decided to file criminal defamation suit against the author, editors and the ownrs of The Wire. They shall be prosecuted for criminal defamation and sued for an amount of Rs 100 crore in the Ahmedabad court,” he said.
Goyal claimed that Ajay Shah ran a “fully legitimate business” and all transactions were done through formal banking. Responding to allegations of Jay Shah’s company, Temple Enterprises Pvt Ltd, obtaining an “unsecured loan”, Goyal said: “All loans have been taken strictly in accordance with law..security has been provided. And the loan taken from NDFC has been full paid along with the interest.”
He added that Jay Shah responded to the questionnaire provided by The Wire, and he has nothing to hide. “Mr Jay Shah responded to the questionnaire with details of all the transactions…shah has nothing to hide,” he said.
Goyal explained that the commodity business started by Jay Shah, along with a family friend, was closed down after it ran into loses. “Jay Shah is an engineer from a reputed college. He partnered with Jitendra Shah, a commodity trader. Together they decided to start commodity trading. The agri commodities business is a high volume low margin business. When you start a new business, you are bound to see an increase in business. 80 cr is not a big revenue in the commodities business. Unfortunately the business was closed due to loses.”