Amit Shah defends son Jay, slams Congress

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"If a company's turn over becomes Rs 1 crore, its profit does not become Rs 1 crore", Amit Shah said at Panchayat Aaj Tak. It also stated that firm received an unsecured loan of Rs 15.78 crore from a financial services owned by a relative of a Rajya Sabha MP.

Jay has filed a criminal defamation case against The Wire in an Ahmedabad court for publishing a story that alleged his firm revenues escalated by 16,000 times after the BJP came to power in 2014. Not letting the opportunity go, Congress has called this an "excellent example" of crony capitalism.

"Please understand this is not corruption".

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On the question of declining GDP growth rate, Amit Shah said, "The Congress first answer how they brought the 8.8 per cent growth rate handed over to them by the Atal Bihari Vajpayee government to 4.4 per cent".

"A statement issued by Shah stated: 'Since the website has proceeded in making an absolutely false imputation in a highly slanted article thereby damaging my reputation I have made a decision to prosecute Author, Editor/(s) and the Owner/(s) of the aforesaid news website for criminal defamation and sue them for an amount of Rs. 100 crores..." Why they lacked such courage?

The Aam Adam Party (AAP), too, hit out at the BJP and said it will launch a protest across Uttar Pradesh to demand an independent SIT probe into allegations against Jay Shah. This company is completely in commodity business, where turnover is more while the profit is less. "If a company's turnover becomes Rs one crore, its profit does not become Rs one crore", he was quoted as saying.

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Interestingly, in the year 2015-16, its turnover suddenly leaped up to Rs 80.5 crore. Rubbishing the case of money laundering, he said, "All the payments were made through cheques".

He added that if Amit Shah remains in the post, a free and fair inquiry will not be possible.

While talking about the loans, Shah clarified that they were not unsecured but a line of credit.

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BJP's ideological parent, RSS had made its stand clear in the controversy on Thursday that an inquiry should only be held if prima-facie evidence was present.

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