The Dhingra Commisison was set up by the Haryana government after BJP came to power in the state, to look into alleged irregularities in land dealings by Congress President Sonia Gandhis son-in-law Robert Vadra.The article through malicious imputations is trying to damage the reputation of our leader Amit Shah. Goyal also rubbished the allegations levelled by the Congress saying it was old Congress style. So even if you do just a few transactions, the volume becomes very high. Jay Shah has decided to file criminal and civil defamation suit against the author, editors and the owner of news website The Wire for Rs 100 crore for defamation, he said.
The loans taken from the NBFC have been fully repaid with interest, he said.IANSmak/vdPost Source: Ians feed. Rs 80 crore is not a large turnover in commodity business, he said. This is malicious and deplorable effort to try and attribute motives.On loans taken from KIFS Financial Services owned by Rajesh Khandwala, Goyal said that normally banks do not extend loans to new and small companies and hence the loan was taken from registered NBFC KIFS on commercial rates and commercial considerations and has been repaid with interest.I wish the Congress would also come clean and if at all they have nothing to hide, not go to court to try and stop Justice Dhingra Commission report that deals with the truth about the dealings of the Gandhi family, he said.1 MW windmill in Madhya Pradeshs Ratlam, Goyal said that IREDA is engaged in commercial lending to promote renewable energy in the country and has already given more than 2,000 loans and sanctioned over Rs 50,000 crore to various customers across the country.Clarifying about the dealings of Jay Shahs companies, Goyal said Shah carries out fully legitimate and lawful business on commercial lines which is reflected in his account books and in his income tax returns and added that all transaction are through banks. In addition, 10 per cent cash margin was given and apart from that property of Amit Shah and office premises of Kusum Finserve were also mortgaged for this LC facility, Goyal said. Of sudden spiking in Temple Enterprises turnover to Rs 80 crore, Goyal said that the firm was dealing in agri-commodities in which there is high volume and high value but low profit margin.
And all the loans have been taken strictly in accordance with law on commercial rates of interest, securities have been provided.Union Minister Piyush Goyal, briefing the media on the matter, said all the transactions and loans obtained by Jay Shahs firms Temple Enterprises Pvt Ltd and Kusum Finserve were done in a transparent manner and the loans were paid back with interest. He said that the Kalupur Commercial Cooperative Bank did not give a loan of Rs 25 crore to Kusum Finserve but gave only a Letter of Credit (LC) on security.On the Indian Renewable Energy Development Agency (IREDA), a public sector undertaking under the Ministry of Renewable Energy, giving a loan of Rs 10. I dont think there is any bar in this country on taking a loan from banks or NBFC (Non-banking finance companies). We thoroughly reject all these baseless allegations and the confidence of Jay Shahs business is reflected in the fact that he immediately decided to go for defamation suit, he said.New Delhi, Oct 8 (IANS) The BJP on Sunday termed as malicious and defamatory an article raising questions on the transactions made by Heating floor Manufacturersfirms owned by Jay Shah, the son of BJP President Amit Shah, and said the younger Shah would file a Rs 100 crore civil and criminal defamation lawsuit against the author of the story and the editors and owners of news website The Wire.35 crore to Kusum Finserve for building a 2.He said that Jay Shah gave full details of all his transactions and answered every question in detail put up by The Wire reporter as he has nothing to hide.