The Wire has claimed that a company owned by Jay Shah saw a 16,000 times jump in its turnover in a year.
BJP president Amit Shah’s son Jay Shah will file a criminal defamation suit of ₹100 crore against The Wire news portal which has claimed that a company owned by Mr. Jay Shah saw a 16,000 times jump in its turnover in a year.
Rejecting the Opposition’s charge over the issue, Railway Minister Piyush Goyal, who briefed the media, said Mr. Jay Shah would be filing the case against the author of The Wire article, the Editor and the owner of the online portal.
“We reject the allegations and the confidence in our way of work is reflected from the fact that Jay Shah is proceeding to file a civil and criminal defamation,”said Mr. Goyal.
Based on the filings with Registrar of Companies, online portal The Wire claimed that Temple Enterprise Private Limited — the company owned by Mr. Jay Shah — saw a an increase in its turnover from ₹50,000 in 2014-15 to ₹80 crore in 2015-16. The website also claimed that another company, Kusum Finserve, where Mr. Jay Shah is a partner, got a loan from the Kalupur Commercial Cooperative Bank against a collateral of ₹7 crore.
The Railway Minister clarified that the amount of ₹25 crore was not a loan but a non-funded letter of credit.