Amit Shah’s son’s company grew by 16,000 times in one year

News Network
October 8, 2017

New Delhi, Oct 8: The Congress and the Aam Aadmi Party on Sunday took a dig at the NDA government over a report that the company owned by Amit Shah’s son recorded a massive 16,000-times increase in turnover over in the year following the election of Narendra Modi as prime minister and the elevation of Shah to the post of party president.

The Opposition parties have sought answers from Prime Minister and the BJP president, and demanded a probe by the ED and the CBI.

Addressing a press conference at the AICC headquarters, senior Congress leader Kapil Sibal said it seems the fortunes of some people have changed after the change of power. He said filings with the Registrar of Companies (RoC) have revealed that the company owned by Shah’s son Jay started making profits after 2014. The story was reported by The Wire today.

He said in March 2013 and in March 2014, Shah’s Temple Enterprise Private Ltd recorded losses of Rs 6,230 and Rs 1,724 respectively. “In 2014-15 it started making profits…that means there was some change in May and profit ka karvah shuru ho gaya….”

“In 2014-15, the company made a profit of Rs 18,728. The real change happened in 2015-16 and it is shocking…..The company made a turnover of Rs 80 crore in 2015-16. The company started getting loans. One Rajesh Khandwala, who owns KIFS Financial Services, gave a loan of Rs 15.78 crore. And the company stopped business activities in October 2016. And the reason stated was that the company was incurring losses.”

“Today, we want to ask our Prime Minister what you now think about crony capitalism. Will you direct the CBI to probe? Will you direct the ED to probe? Will you ask them to arrest them? Because in the case of opposition, the ED immediately sends notice and shows speed in arresting them…If somebody’s name is Jai, Amit and Shah who can arrest them. I can confidently tell you that the Prime Minister will remain silent,” Sibal said.

He alleged he has learnt that the electronic media has been asked not to show his press conference.

“Our pradhan sevak always used to talk about crony capitalism. Even if there is an allegation of Rs 10 lakh against anyone, they set the CBI after them. They set the ED after him. If they want to level any allegation against a Congress leader….there was an allegation of Rs 10 crore against Virbhadra Singh….how many cases did they launch…So we want to ask where is the CBI, ED and where is the prime minister.”

“The Prime Minister will not speak. Because it is about the son of his party’s president. Unhi ki ho jai wo hain? So how suddenly there was a turnover of Rs 80 crore..this company was dealing in agri products….” he said.

Asked where is the criminality, he said “we are talking about crony capitalism. Criminality will only (be established) if there is an investigation. That will only be determined by an investigation. Why where these loans given through ooperative banks without a mortgage, without proper security. Seven crore was the turnover of the cooperative bank and loan of Rs 25 crore was given…why,” he asked.

He spoke about Kusum Finserve, a limited liability partnership incorporated in July 2015 with Jay Shah owning a 60 per cent stake in it. He said the got company got Rs 25 crore loan from the Kalupur Commercial Cooperative Bank. The board of directors of the bank, he said, include individuals from the Nirma group and Nirma university.

Asked whether the Congress will seek an investigation, he said “investigation is to be done by agencies under their control. Who will listen to the Congress. We just want you to tell the people of India that this is happening in our country. We know who CBI, ED will investigate and who ED and CBI will not investigate. Is the Prime Minister open and honest enough to say investigate the son of Amit Shah. That is the issue.”

“Our appeal to the Prime Minister is that you are the pradhan sevak ….you always say na khaunga, na khane dunga….tho nahin khane dijiye.” “This is the Shah model of business…,” he said.

Defending Jay Shah, BJP’s national IT cell chief Amit Malviya, in a series of tweets, said: “Every new business starts with nil turnover on day one, expands later. What is wrong with legitimate expansion of business?  This was a legitimate commodity export import business, where volumes are high and margins are low so 16,000x misleading. Is Jay Shah not allowed to take loan on market rates of interest from a registered NBFC? Where is the favour / impropriety? Since when has taking a loan by cheque become illegal? Jay Shah company took a loan from NBFC, disclosed it in income tax.”

Meanwhile, 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,”

The AAP also held a press conference. Senior leader Ashuthosh said a FIR should be registered against Jay Shah and a probe should be ordered into his company’s activities.

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ahmed
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Monday, 9 Oct 2017

ha haa ACCHA DIN AAYA HEY SIRF MODI PARIVIAR Ko...

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News Network
July 16,2020

Bengaluru, Jul 16: Rattled by the spurt in Covid-19 positive cases, a Karnataka minister on Wednesday said only god would save the people from coronavirus pandemic.

"Only god has to save us from the virus or the people should be made aware of the infection so that they wear mask and maintain social distancing," state Health Minister B Sriramulu told reporters in Chitradurga, 205-km northwest of Bengaluru.

Noting that the infection does not differentiate between rich and poor, police, doctors, politicians or legislators, Sriramulu said the communicable disease could rise to alarming level in the ensuing two months, as the cases were rising daily the world over.

"Who can control coronavirus? In the present situation, only god has to save us. Otherwise, the people should become aware of its (virus) consequences. If we have made mistakes, we are ready to face punishment for them," said Sriramulu, who is the ruling BJP's legislator from the Molakalmuru reserved assembly segment in the district.

Refuting the opposition Congress charge that the cases were rising in the state due to negligence by ministers, officials and legislators, Sriramulu said Karnataka was performing better than other states till the cases began to steadily rise since unlock started and the people were moving in violation of the guidelines.

A record 3,176 cases were reported from across the southern state during the day, taking the Covid tally to a whopping 47,253, including 27,853 active cases after 18,466 were discharged, with 1,076 during the day, while 928 succumbed to the virus, with 87 in the last 24 hours.

In Bengaluru, which is under 9-day lockdown since Tuesday night till July 22 morning, 1,975 positive cases were registered, taking its tally to 22,944, including 17,051 active after 5,455 were discharged so far, with 463 during the day, while 437 died of the infection, with 60 in the last 24 hours.

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News Network
June 22,2020

Bengaluru, Jun 22: The opening of Schools in the state, is unlikely before Dasara festival, as a majority of the parents are averse to send their children due to the COVID-19 scare.

According to official sources, in the State education department, a majority of parents, who were asked to give their opinion on re-opening of schools in the state, have reportedly favoured continuing the closing of schools till September.

The primary and Secondary education department had received feedback from various stakeholders including educational institutions, parents and Teachers, clocking high towards not opening the schools for the 2020-21 academic year till Dasara days.

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News Network
March 19,2020

Bengaluru, Mar 19: The Karnataka government has extended the statewide coronavirus shutdown till March 31 as the number of positive cases rose to 14, of whom 11 are those who came in from foreign countries.

In an emergency Cabinet meeting, the state government set up a task force of four ministers to lead the defence against the virus. This core team will have Rs 200 crore to orchestrate the combat.

When chief minister B S Yediyurappa announced the shutdown last week, it was to be in force until March 21, but it was always unlikely that the Covid-19 scare would have waned by then.

Several more restrictions were announced today. Quarantine will be mandatory for all passengers arriving from foreign countries. While schools, colleges and business establishments will continue to be closed, restrictions have been extended to marriages, fairs and social functions as well.

Public entry to Vidhana Soudha, Vikas Soudha and the M.S. Building has been barred till March 31.

While setting up the task force, the government has earmarked Rs 200 crore for the coronavirus campaign. The chief minister said there is no dearth of funds for fighting the virus.

The task force will have deputy chief minister Ashwathnarayana, home minister Basavaraj Bommai, medical education minister Sudhakar, health and family welfare minister B Sreeramulu and chief secretary T M Vijaybhaskar.  Sreeramulu will head the task force.

The task force will monitor coronavirus cases on a daily basis and orchestrate the response of all stakeholders. It will issue a daily bulletin on the epidemic and also run awareness campaigns.

With quarantine now mandatory for passengers coming in foreign countries, community centres, hotels, convention centres, resorts and even PGs will be rented to accommodate the new arrivals.

The compulsory quarantine will be for 15 days.

A quarantine stamp will be imprinted on the right hand of passengers coming in from foreign countries.

Since the Centre has relaxed the rules for using SDRF funds, the state government will draw from it to contain the pandemic; therefore, there will be more funds available to all districts, chief minister B S Yediyurappa said in the Assembly.

In further measures, all passengers and suspected Covid-19 cases will be tracked by their mobile phones.

Primary stage

“We are in the first and second stages of the epidemic. The virus is still at a primary stage and has not spread to community level," medical education minister Sudhakar said in the Assembly.

"It is important that we do not let the epidemic enter the third stage. It is possible if we implement stringent measures. People have responded positively to the state government’s measures and are cooperating with our decisions," Sudhakar said.

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