Oppn demands probe into junior Shah's business

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Mumbai: A leading news portal which carried a story claiming that business fortunes of Jay Shah, son of Bhartiya Janata Party (BJP) Chief Amit Shah, have seen sudden and surprising rise in a year after Modi government came to power in New Delhi is facing defamation suit. Will you ask them to arrest them? "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 Amitbhai Shah's political position ... Issue is whether the Prime Minister is honest enough to say that investigate the son of Amit Shah", replied Mr Sibal to queries on whether there was any wrongdoing".

He spoke about Kusum Finserve, a limited liability partnership incorporated in July 2015 with Jay Shah owning a 60 per cent stake in it.

"Today, we want to ask our Prime Minister what you now think about crony capitalism". "Latest in the series of corruption cases under Modi".

While CPI's D Raja demanded a "high level SIT probe monitored by the court", Arvind Kejriwal led Aam Aadmi Party (AAP) also demanded a criminal probe into the matter. Speaking to themedia, Piyush Goyal said, "Jay Shah carries out fully legitimate and lawful business reflected in account books, income tax returns and all transactions in banks". We know who CBI, ED will investigate and who ED and CBI will not investigate.

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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.

"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 report also flagged how Jay's company, whose business is primarily stock trading, turned to generating wind power with a loan from a public sector enterprise. It said Jay's company received an Rs 10.35-crore loan from the Indian Renewable Energy Development Agency (IREDA) for a renewable energy start-up and Rs 25 crore worth of finance from the Kalupur Commercial Cooperative Bank, which has influential backers.

"I had taken loan either from NBFC or Non-funded Credit Facilities from cooperative banks on purely commercial terms strictly in accordance with law. Why is PM silent?.L K Advani had resigned after the Jain Hawala diary episode while its then party president Bangaru Laxman had quit after a corruption expose".

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