The Wire, a news website, published a controversial report ‘The Golden Touch of Jay Amit Shah’ on BJP President Amit Shah’s son Jay Shah business whose Revenue increased from just Rs 50,000 to over Rs 80,00,00,000 in just one year.
The turnover of Shah’s company Temple Enterprise Private Ltd reportedly grew only after Narendra Modi formed the government. In 2013 the company showed losses of Rs 6,230 while in 2014 it showed Rs 1,724. Following year, it recorded profits worth Rs 18,728 in 2015, before jumping to 80 crores the next year.
The report accused Shah of securing a PSU loan from a financial services firm owned by in-law of Rajya Sabha MP Parimal Nathwani. However, the company stopped operations after October2016 as the net worth had “fully eroded”. It reported losses worth Rs 1.4crore.
Shah’s lawyers have denied offences but did not challenge the extraordinary growth of 16000times in the company’s turnover.
On the other hand, Shah has reportedly decided to file criminal defamation suit and will sue for an amount of Rs.100 crore against the author, editors and the owners of The Wire.