Here's what Jay Shah has to say on The Wire's article against his firm

Jay Shah said the article makes false, derogatory and defamatory amputations against him.

Prime minister Narendra Modi (C), BJP President Amit Shah (R) with his son Jay Shah (L). Photo: PTI

NEW DELHI: Congress on Sunday took a dig at the Modi government over a report that the turnover of a company owned by BJP President Amit Shah’s son increased 16,000 times over in the year following the election of Narendra Modi as prime minister and the elevation of Shah to the post of party president. "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," Congress vice president Rahul Gandhi tweeted. Addressing a press conference, Congress leader Kapil Sibal said, "How can a company with no inventory or assets post a turnover of Rs 80.5 crore? Will PM ask CBI to act against Amit Shah's son?" Rubbishing allegations against Jay Shah, Railway Minister and BJP leader Piyush Goyal termed the report published on The Wire as "false". "We reject any allegation sought to be made against Jay Shah or any of our leaders. Jay Shah will file criminal defamation suit of Rs. 100 cr against author(of article), editor & owner of news website The Wire," he said. "All loans taken (by Jay Shah) were in accordance with law & were paid back with full interest, well within the time limit," he added. Jay Shah's statement on The Wire's article: Today morning a news website The Wire published an article titled the golden touch of Jay Amit Shah authored by Mrs Rohini Singh. The editor of the website is Siddharth Varadarajan. The article makes false, derogatory and defamatory amputations against me by creating in the minds of right thinking people and impression that my business owes its success to my father Sri Amit Bhai Shah’s political position. My businesses are fully legitimate and conducted in a lawful manner on commercial lines which is reflected in my tax records and are through banking transactions. I had taken loans either from NBFC or Non Funded Credit Finance Facilities from Cooperative Banks on purely commercial terms strictly in accordance with the law. I have repaid the loans by check on commercial rate of interest and within the time stipulated. I have mortgaged my family property with the Cooperative Bank to get the credit facilities. My lawyer has given details of all my legitimate transaction to the author of the website and questions posed by her were answered with details since I had nothing to hide. The website has proceeded in making an absolutely false imputation in a highly slanted article thereby damaging my reputation I have decided to prosecute the author, editor and owner of the aforesaid news website for criminal defamation and sue them for an amount of Rs. 100 crore. Both the actions will be filed at Ahmedabad where I stay, carry on my businesses and where the cause of action has arisen. If anyone else republish/ re-broadcast the imputations made in the said article, whether directly or indirectly, such person or entity will also be guilty of very same criminal or civil liability.