Amit Shah Son Business Deals Under Scanner

 

While BJP President Amit Shah rules the roost over the BJP his son Jay Amit Shah is embroiled in a controversy over some business contracts that he signed since the BJP came to power in 2014.According to reports the turnover of Temple Enterprises Pvt. Ltd. of which Jay Shah was the Director, the turnover jumped from Rs. 50000 to Rs. 80,0000,000 in a single year. Citing the filings shown by the Registrar of Companies (Roc).

The company balance sheets also claim that during the financial years 2013-2014, the company showed negligible activity and recorded losses worth Rs 6230 and Rs 1724 respectively.

While in the following financial year 2014-2015, it generated a profit of Rs18,728 with revenues of just Rs 50000 and then with a sudden spike in turnover of Rs. 80.5 crore in the year 2015-2016, which sets the doubt fire rolling.

However, in a tough response, Amit Shah’s son Jay Shah declared that he would file a defamation suit of Rs 100 crore against the website which has published all misleading details related to his company assets. In a statement Jay denied any wrongdoing and said,  “The article makes false, derogatory and defamatory imputation against me by creating in the minds of right-thinking people an impression that my business owes its ‘success’ to my father Shri Amit Bhai Shah’s political position… My businesses are fully legitimate and conducted in a lawful manner on commercial lines, which is reflected in my tax records, and are through banking transactions.”

This issue sparked a serious war of words between the ruling and the opposition parties with the Congress, Left and AAP and other BJP opponents also joining the fray demanding an immediate probe into the matter.

CPI (M)’s Sitaram Yechury  cited this as the latest in the series of corruption cases under the Modi government, while Congress leader Kapil Sibal tagging it as a case of “crony capitalism.”

Taking a jibe at the BJP and Shah family, Congress Vice President Rahul Gandhi stated, ” We finally found the only beneficiary of demonetization. It’s not the RBI, poor or the farmers. It’s the Shah in Shah of Demo.”

The Citings by the RoC also alleged that the company received a loan of Rs. 15.78 crore by Mr. RS Khandelwala, a relative of Rajya Sabha member Parimal Nathwani. But Railway Minister Piyush Goyal came back strongly in Shah’s defense stating that he had no discrepancies in his dealings and Khandelwal was his long-term stockbroker and the loans were appropriately routed and disposed of.

The opposition is hell-bent on raking Jay Shah’s issue to its roots as the company shut down in the face of demonetization announced on 8th November 2016. So was Jay Shah got the wind of the impending demonetization? A few days back Prime Minister Narendra Modi announced the closing of the money laundering firms. Was Jay Shah also into some sort of fishy business under the reins of the Modi government? Keep guessing.

CPM General Secretary Sitaram Yechury questioned the Modi government’s action in his latest tweet asking, “Why is the PM silent? If former leader LK Advani resigned after the Jain Diary scam and the then President Bangaru Laxman resigned after the corruption charges, it’s really high time that PM Modi demanded resignation from party President Amit Shah and maintain the integrity of his party.”

Dismissing all the charges and coming in full support of Amit Shah’s son Jay Shah, Railway Minister Piyush Goyal said, “There has been a tradition of honesty and  transparency in the public life of BJP leaders and Jay Shah’s business transactions are in full accordance with the law and with purely commercial purpose.”

 

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