Report on Amit Shah’s son: BJP developed beta business model, says Raj Babbarhttps://indianexpress.com/article/india/report-on-amit-shahs-son-bjp-developed-beta-business-model-says-raj-babbar-4882474/

Report on Amit Shah’s son: BJP developed beta business model, says Raj Babbar

Babbar added that no management school must have seen such a business model, which has become possible as while the “beneficiary’s uncle is the Prime Minister, his father is ‘mota bhai Shah’, with the key to power”. 

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Raj Babbar on way to Congress office in Lucknow on Monday. Vishal Srivastav

ALLEGING THAT the BJP has evolved a new “beta business model”, Congress state president Raj Babbar on Monday demanded BJP president Amit Shah’s resignation on moral grounds, citing examples of senior BJP leaders like L K Advani and Nitin Gadkari, who he claimed had quit their posts following allegations of corruption.
This comes a day before Shah is set to visit Congress vice-president Rahul Gandhi’s Lok Sabha constituency of Amethi.

A report in The Wire had said the turnover of Temple Enterprise Private Limited, a company owned by Shah’s son Jay, had grown from Rs 50,000 in March 2015 to Rs 80.5 crore in 2015-16 — a year in which it got access to an unsecured loan of Rs 15.78 crore from financial services firm KIFS.

Referring to Shah as “mota bhai Shah”, Babbar — who reached Lucknow in the morning — also demanded a probe by two sitting judges of Supreme Court into the companies, where Jay owned shares. Further, he asked if Jay was a member of the central government as a Cabinet minister (Piyush Goyal) had come out in his defense on Sunday.
“The people have seven questions for the Pradhan Sevak (Prime Minister Narendra Modi) and Amit Shah, who would be passing through Lucknow to attend an event in the state tomorrow. BJP has developed a ‘beta business model’, where the entire government machinery is busy running shop of one son, who was getting pearls without even asking for them. Whereas, rest of the youths across the country were kept busy with cow protection and being made keepers of nationalism,” Babbar said.

Babbar added that no management school must have seen such a business model, which has become possible as while the “beneficiary’s uncle is the Prime Minister, his father is ‘mota bhai Shah’, with the key to power”. Babbar went on to ask seven questions to Shah and the PM.

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“Firstly, the people want to know what kind of business is Jaya Shah’s company involved in, which increased his profit by 16,000 times. Secondly, did the income tax department have information about it? Thirdly, what kind of sale and purchase was made by the company, which saw an investment worth Rs 51 crore from foreign investors. Then, the company was given unsecured loans… has any other such beneficiary got unsecured loans worth Rs 15 crore,” he asked.

Babbar alleged that in 2016, the Union Power Ministry had granted a contract to Kusum Finserve Private Limited (where Jay owns 60 per cent stake according to The Wire report) to install a wind mill plant in Madhya Pradesh, for which it was given a loan of Rs 10.35 crore from Indian Renewable Energy Development Agency. “Has any other company in the country been given such a facility?” he asked.

Babbar also wanted to know whether any company (Kusum Finserve), offering financial services, got Rs 25-crore loan by mortgage of assets worth Rs 6.20 crore.

Targeting Piyush Goyal, he asked: “Most importantly, the people want to know whether Jay Shah is member of the central Cabinet, as one Cabinet minister has come out in his defense. Has any private individual been defended by a Cabinet minister in the past?”