Oppn demands probe into junior Shah's business

Oppn demands probe into junior Shah's business

Oppn demands probe into junior Shah's business

Union Minister Piyush Goyal addressing a press conference described the article titled "The Golden Touch of Jay Amit Shah" as "absolutely false, baseless, malicious, defamatory, hollow with absolutely no substance".

"I had taken loan either from NBFC or Non-funded Credit Facilities from cooperative banks on purely commercial terms strictly in accordance with law".

Sibal said being a minister, Goyal can defend the government but there was no need of him to defend Jay Shah. Goyal said that Shah would file a criminal defamation case and also seek damage of Rs 100 crore against the author, editors and owners of "The Wire". Jay Shah has said he will sue The Wire for Rs. 100 crore.

However, Congress leader Kapil Sibal asked how Jay's company had no inventory or assets after a turnover of Rs 80.5 crore within a year?

Attacking Prime Minister Mr Narendra Modi, Mr Yechury tweeted, "Latest in the series of corruption cases under Modi". "Will the PM ask CBI to act? will arrests take place?"

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Responding to the Opposition's demands for a probe, Railway Minister Piyush Goyal told the media that the title of the report was "mischievous" to defame Amit Shah and the use of figure 16,000 an attempt to sensationalise the issue.

"Both the actions will be filed at Ahmedabad where I stay, carry on my business and where the cause of action has arisen". One Rajesh Khandwala, who owns KIFS Financial Services, gave a loan of Rs 15.78 crore.

Sibal, citing the filing with RoC, also alleged that a firm Kusum Finserve LLP, in which Jay Amit Shah had 60 per cent stake, had also got a contract in Madhya Pradesh in wind power sector despite the company being engaged in stock trading. 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.

"We can only request the Prime Minister to order inquiries into this", he said. It's not the Reserve Bank of India, the poor or the farmers. We know who CBI, ED will investigate and who ED and CBI will not investigate. It's the Shah-in-Shah of Demo (netisation). Senior leader Ashuthosh said an FIR should be registered against Jay Shah and a probe should be ordered into his company's activities. "We outrightly reject the allegations and thus [they] should not be reproduced in a way that could be defamatory", Goyal said.

Soon after Shah led a march to the CPI (M) office, the communist party criticised the "Jan Raksha Yatra" saying it was aimed at diverting public attention from the growing discontent against the Modi government.

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