October 9: An Ahmedabad court has ordered an inquiry under Section 202 (to inquire into the case to decide whether or not there is sufficient ground for proceeding) of the CrPC against news website "The Wire" on the defamation suit filed by Jay Shah, son of Bharatiya Janata Party (BJP) chief Amit Shah, informed Jay's lawyer S.V. Raju on Monday.
A day after a media report claimed alleged irregularities by a company owned by BJP national president Amit Shah's son Jay Shah, the latter filed a criminal defamation suit against a news website.
He alleged that the only beneficiary of demonetisation was not the RBI, the poor or the farmers, but it's the Shah-in-Shah of demonetisation.
When pointed out that a 16,000 times jump in turnover of Jay Amit Shah's company doesn't show any wrongdoing, Sibal countered by saying, "Many private persons who didn't occupy any position were targeted when we were in power". It's the Shah-in-Shah of Demo.
Meanwhile, additional solicitor general Tushar Mehta has said he may represent Jay Shah in the matter.
Vipshop Holdings Limited (VIPS) Downgraded by BidaskClub to "Strong Sell"
It turned negative, as 89 investors sold QCOM shares while 481 reduced holdings. 49 funds opened positions while 94 raised stakes. The current Wall Street consensus is expecting Vipshop Holdings Limited (NYSE: VIPS ) to report EPS of $N/A for the quarter.
He told NDTV channel, "I have taken permission from the Law Ministry on 6th October for this issue". The allegation in the article is of the firm's turnover growing from Rs 50,000 in March 2015 to Rs 80.5 crore in 2015-16. I have seen some pages from the suit, but we are yet to formally receive any communication from Shah, his lawyers or the court.
Amit Shah' son also says that: "I have chose to prosecute the Author Editor/(s) and the owners of the aforesaid news website for criminal defamation and sue them for an amount of Rs 100 cores".
On IREDA, OpIndia says the public enterprise is meant "to promote, develop and extend financial assistance for renewable energy and energy efficiency/conservation projects".
He said, "The financial papers of companies run by Jay Shah are murky and its functioning is much similar to those of shell companies". He also demanded that Prime Minister Narendra Modi direct Amit Shah to resign from all posts to facilitate a free and fair inquiry into this "scam". The report, The Golden Touch of Jay Amit Shah, was published on Sunday morning.
The report also spoke of Jay's company, whose business is primarily stock trading, turning to generating wind power with a loan from a public sector enterprise, Indian Renewable Energy Development Agency (IREDA).