Jay Shah Should Come Clean And Face The Probe, Says Kapil Sibal

Union Minister Arjun Ram Meghwal leads the Janaraksha Yatra with BJP state president Kummanam and other leaders at Panoor in Kannur on Friday

The BJP on Sunday termed as "malicious and defamatory" an article raising questions on the transactions made by firms owned by Jay Shah, the son of BJP President Amit Shah, and said the younger Shah would file a Rs 100 crore civil and criminal defamation lawsuit against the author of the story and the editors and owners of news website The Wire.

The article in question, authored by Rohini Singh and published on The Wire website, "The Golden Touch of Jay Amit Shah" alleged that as per filings with the Registrar of Companies (RoC), Jay Shah's business boomed over 16,000 times within a year of Prime Minister Narendra Modi's electoral win in 2014. "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", Jay Shah asserted.

"All loans have been taken strictly in accordance with law.security has been provided".

Goyal also said Rs 80 crores was not a "huge turnover" in the commodity business.

He also said that it was not unusual for the second firm named in the piece to venture into the unrelated power business, pointing to his own career and saying he started an engineering company after completing his chartered accountancy.

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He also said the younger Shah had made a decision to file criminal defamation suit against the author of the article and the editors of The Wire for Rs 100 crore in Ahmedabad.

The Congress charge against the BJP leadership was led by none other than party vice-president Rahul Gandhi, who also linked the episode - as surfaced in an article on a website "The Wire" - to Mr Modi's much talked about demonetisation move. "I have repaid the loans by cheque on commercial rate of interest and within the time stipulated". One Rajesh Khandwala, who owns KIFS Financial Services, gave a loan of Rs 15.78 crore. "Will you ask the ED to arrest these people", asked senior Congress leader Kapil Sibal.

Notably, the following year (in 2015-16), the company's turnover jumped to a whopping Rs 80 crore, he said. He said the got company got Rs 25 crore loan from the Kalupur Commercial Cooperative Bank. In his address, Mr Shah said that no amount of intimidation can stop the lotus (BJP's symbol) from blooming in the Left-ruled state. It's not the RBI, the poor or the farmers. It's the Shah-in-Shah of Demo (netisation).

CPI (M)'s Sitaram Yechury claimed that it is the latest in a series of cases of corruption under the Modi government. While CPI's D Raja demanded a "high level SIT probe monitored by the court", AAP sought a criminal enquiry into the allegations. He said that, "We reject any allegation or imputation against any leader".

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