Piyush Goyal defends Jay Amit Shah against charges of financial impropriety

Bomb hurled against CPM march in Kannur, hartal to be observed on Monday

Piyush Goyal defends Jay Amit Shah against charges of financial impropriety

Responding to other suggestions made in the article, Mr Goyal said Mr Jay Shah had taken loans either from non-banking financial companies (NBFCs) or Non-funded Credit Facilities from cooperative bank on purely commercial terms strictly in accordance with law.

Jay Shah, son of BJP President Amit Shah, on Sunday refuted a news portal story against him indicating that his private business rose to astronomical level after the BJP came to power at the Centre and called it "false and derogatory". "And the loan taken from NDFC has been full paid along with the interest", he added.

"Since the website has proceeded in making an absolutely false imputation in a highly slanted article thereby damaging my reputation, I have chose to prosecute the Author, Editor/(s) and the Owner/(s) of the aforesaid news website for criminal defamation and sue them for an amount of Rs 100 crores".

The demand from the opposition parties came after a media report, citing filings with the Registrar of Companies (RoC), said that the turnover of Jay Amit Shah-owned Temple Enterprise zoomed by around 16,000 times during 2015-16 at around Rs 80 crore over the previous year.

Earlier in the day, Goyal informed that Jay Shah, will be filing a criminal defamation suit against news website "The Wire" for alleging that Jay's company posted a turnover of Rs. 80.5 crore in 2015-16. "Will you ask ED to arrest these people", Sibal asked at a press conference here.


Sibal, while talking to the media persons, here said the total assets, number of employees Jay Shah's company had, all these questions are a mystery and probe is needed to reveal the complete truth. "From an official platform, he defended Jay Shah".

Mr Sibal also alleged that a company owned by Mr Jay Shah got a loan of Rs 25 crore from a cooperative bank without sufficient collateral security, besides a loan of Rs 10.35 crore from Indian Renewable Energy Development Agency Limited (IREDA), a public sector firm under the Ministry of New and Renewable Energy, which was under Mr Goyal. He said the bank, and not a union minister, should defend the loan.

Goyal said Jay's privacy rights have been infringed. It's not the RBI, the poor or the farmers.

"We can only request the Prime Minister to order inquiries into this", he said. It's the Shah-in-Shah of Demo (netisation). Attacking Modi, Yechury tweeted, "Latest in the series of corruption cases under Modi. Why is PM silent?"

The Aam Aadmi Party also demanded a probe into the allegations and said a criminal probe should be started. "We won't reply violence with violence as we are not communists but we will spread awareness against political killings", he said.

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