Published: Fri, October 13, 2017
Worldwide | By Isabel Fisher

Probe if there is evidence, says RSS on Jay Shah row

Probe if there is evidence, says RSS on Jay Shah row

He said that the business was a high volume and low profit, which is why it can not be used for money laundering.

After the revelation, the Union Railway Minister, Piyush Goyal rubbished the news and said that Jay Shah will file a case of defamation against the author of the report and the editors of the news web portal.

Answering questions, he said that after making a turnover of Rs 80 crore, Jay made a loss of Rs 1.5 crore.

Interestingly, in the year 2015-16, its turnover suddenly leaped up to Rs 80.5 crore. He said that the question of corruption does not arise since no government land or contract was involved in the business being conducted by his son Jay. "The figure in question is turnover not profit".

After the news broke, the Congress stepped up its attack over Jay Shah's business demanding resignation of the BJP chief. The same year, the company also received an unsecured loan worth Rs 15.78 crore from non-banking financial company KIFS Financial Services, before winding up its business in October 2016.

"Claiming that during the Congress regime, many schemes were successfully launched but after the BJP came to power, there was no developmental activities in the State, Tok said that schemes such as the Arunachal Trans Highway, Civil Secretariat building and Assembly complex were constructed under the fund and schemes sanctioned during the UPA government,".

The BJP, on Sunday, defended its president's son as the development has already started a political battle between the ruling saffron party and the Congress.

He said: "We believe in legitimate and honest transactions". "It was a line of credit", he added. In his application, Shah sought, "criminal action against the respondents for defaming and tarnishing the reputation of the complainant through an article, which is scandalous, frivolous, misleading, derogatory, libelous and consisting of several defamatory statements". In the reports, it tried to expose the two firms in which he has stakes and reported their surprising growth after 2014, the time when Modi became Prime Minister of the country.

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