In a press statement issued hours after news portal "thewire.in" released the story, Jay Shah said: "Today morning, a news website The Wire titled the 'The Golden Touch of Jay Amit Shah" authored by Ms Rohini Singh.
The Congress leader also questioned Goyal the reason behind giving loan from his ministry in the name of startups to Jay Shah and asked him to reveal the number of companies they have provided loan for the same goal. "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 taken (by Jay Shah) were in accordance with law were paid back with full interest, well within the time limit".
"I have made a decision 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 Crore", Jay said.
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. The minister also took on the website for picking holes in IREDA (Indian Renewable Energy Development Agency) sanctioning loan for 1 windmill plant to Jay Shah.More news: Spain and the other national sides with a direct route to Russian Federation
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The change in fortunes of the company came after the company received an unsecured loan of Rs 15.78 crore from KIFS Financial Services owned by a relative of a BJP Rajya Sabha member, Sibal claimed.
"This matter should not be exaggerated and our Pradhan Sewak (Prime Minister Modi) should initiate probe in this matter", he added. It said Jay's company suddenly stopped its business activities in October 2016. In 2014-15, it showed a profit of Rs 18,728 on revenues of only Rs 50,000 before jumping to a turnover of Rs 80.5 crore in 2015-16. It's not the Reserve Bank of India, the poor or the farmers. "Would he ask for an investigation by the CBI and the Enforcement Directorate as they normally do in the case of people from the Opposition". It's the Shah-in-Shah of Demo.
CPI (M)'s Sitaram Yechury claimed that it is the latest in a series of cases of corruption under the Modi government.
The Aam Aadmi Party also demanded a probe into the allegations and said a criminal probe should be started. "Why is PM silent?" "We outrightly reject the allegations and thus [they] should not be reproduced in a way that could be defamatory", Goyal said.