A Report from a website says that the turnover of Temple Enterprise Private Ltd, a company owned by Jay Shah, grew from Rs 50,000 in March 2015 to Rs 80.5 crore in 2015-16.
Amit Shah’s son Jay Amit could get into a trouble after a report published in the online portal The Wire. The report contains the business dealings of Jay Amit’s company Temple Enterprises and the other company owned by Shah family Kusum Finserve. After coming to the report in the public’s eye, Congress has demanded the CBI inquiry in the case while BJP called it ‘false’ and ‘defamatory’ news.
Congress vice president Rahul Gandhi tweeted, “We finally found the only beneficiary of Demonetisation. It’s not the RBI, the poor or the farmers. It’s the Shah-in-Shah of Demo. Jai Amit.” On the other hand Amit Shah’s son said he would sue the author of the report and the editors and owners of the website for criminal defamation.
The report in The Wire said the turnover of Temple Enterprise Private Ltd, a company owned by Jay Shah, grew from Rs 50,000 in March 2015 to Rs 80.5 crore in 2015-16, a year in which it got access to an unsecured loan of Rs 15.78 crore from financial services firm KIFS.
The report also talks about Shah’s another company Kusum Finserve, a limited liability partnership, incorporated in July 2015. It says Kusum Finserve got inter-corporate deposits from KIFS Financial worth Rs 2.6 crore in FY 2014-15, and an unsecured loan of Rs 4.9 crore. The report also speaks about the LLP availing a Rs 10.35 crore loan from a public sector enterprise, Indian Renewable Energy Development Agency (IREDA).
The data of reports clearly show that something happened wrong in the dealing of Shah’s company and now it is worth to see that what action would take by the Govt.