Defending his son, Shah, at Panchayat Aaj Tak, said: "There is no question of corruption in the business dealings of Jay (Shah)". This company is completely in commodity business, where turnover is more while the profit is less. "If the company's turnover becomes Rs 1 crore, its profit does not become Rs1 crore".
"After achieving a turnover of Rs 80 crore, his company suffered a loss of Rs 1.5 crore. The figure in question is turnover not profit". All the payments were made through cheques.
Tadar said a defamation suit has been filed by Jay Shah against Wire for wrongfully projecting him in the media portal and the party reposes faith in the judiciary.
On October 9, Jay Shah filed a criminal defamation suit against The Wire in a metropolitan court in Ahmedabad.
Jay Shah has also slapped a 100-crore defamation case on the website over aspersions of corruption. 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.
"Like any other corruption case, there should be an inquiry and action (should be taken) in keeping with the findings of the inquiry", Dattatreya Hosabale, the joint general secretary who is considered the third in command in the RSS, said today in Bhopal where the Sangh is holding its national executive meeting. The Congress also sought a probe into the "sudden spurt" into the turnover of a company belonging to Jay Shah by a two-member commission of Supreme Court judges, questioned the timing of the closure of Jay Shah's company weeks before demonetisation and the move by Mehta, who made a decision to represent Jay Shah. "Why could it not gather the courage to file such a suit?" It has not got government land worth a rupee.
Congress leader Kapil Sibal, a couple of days ago, attacked the BJP over the issue and was quoted as saying in a press conference: "How can a company with no stock, no inventory, no assets, has a turnover of 80 crores?" We were given a credit to lift material against cash deposits.