Congress says, Amit Shah's son Jay delayed filings to hide rise in fortunes
The Congress on Saturday alleged that Jay Amit Shah, son of Union Home Minister Amit Shah, delayed the "mandatory filing of statement of accounts of his business firm with the Ministry of Corporate Affairs (MCA) for the past two years and filed after the Lok Sabha election to hide a huge jump in the firm's fortunes". At a press conference at the party headquarters, party spokesperson Pawan Khera said that Mr. Jay Shah's firm - Kusum Finserv Ltd. - did not file the statement of accounts for 2017 and 2018.
"If you and I had failed to do so, it would be termed an offence and a penalty of up to ₹5 lakh would have been imposed. This provisions does not apply to Prince Jay Amit Shah as he does not submit his accounts in 2017 nor does he do it in 2018. He waits until the Lok Sabha elections are over," Mr. Khera said. "Now, let us see why he has to wait for the elections to be over. In 2014 the annual income of Kusum Finserv Ltd. was ₹80 lakh. By 2019, the earning had gone up to ₹119.6 crore and in 2017, it was as high as ₹143 crore," he said and asserted that all the figures were in the public, including the website of the MCA.
On Friday, a similar newsreport was published by The Caravan magazine as well that detailed the growth of the business fortunes of Mr. Shah's firm. Between 2015 and 2019, the assets of the firm grew from ₹1.25 crore to ₹25.83 crore, Mr. Khera said. "Nobody knows the type of business this company of Prince Shah of the Shah dynasty, Jai Amit Shah, does. What is this business that increased their income by 15,000%?" he said, adding that the Congress would raise the issue on the winter session of Parliament.