What has been also interesting to note that none other than senior Union Cabinet Minister Piyush Goyal held the press conference to come to the defence of a common citizen. Is there a connection here since Goyal headed the Ministry of New and Renewable Energy when this loan was sanctioned flouting IREDA rules and norms. One expects a clarification from Goyal as to why the government broke IREDA rules and transferred the loan to Jay Amit Shah’s company.

Earlier on Sunday, the news report, linked on the top, revealed that Temple Enterprises Pvt Ltd, a firm promoted by Jay Amit Shah, had revealed a revenue of just ₹50,000 in 2014-15 and a profit of ₹18,728 in its returns submitted to the Registrar of Companies.

But the very next year, i.e. 2015-16, the company’s turnover grew to a whopping ₹80.5 crore from the ‘sale of products’. This was also the year when the company secured an unsecured loan of ₹15.78 crore from KIFS Financial Services, owned by Rajesh Khandelwala, the samdhi of Parimal Nathwani, an independent member of the Rajya Sabha and a top Reliance executive.

Curiously, KIFS Financial Services, in its filings, the report alleged, did not reveal the loan it had extended to Jay Amit Shah’s company. In any case, the report wondered how KIFS extended a loan of Rs 15 crore when its own revenue was only Rupees seven crore for that particular year.

In July, the Bharatiya Janata Party had been forced to issue a press statement to justify the sudden increase in the assets of Amit Shah himself as revealed by him to the Election Commission. In 2012, Shah had disclosed moveable assets worth ₹1.90 Crore. This year, he declared moveable assets worth ₹19 Crore.

Similarly, Shah’s immoveable assets also grew in this period from ₹6.63 Crore to ₹15 Crore. BJP in July, 2017 explained away the spurt by claiming that the party president had inherited property following his mother’s demise in 2013.

But now the meteoric rise of his son’s companies, one out of many one presumes, and its sudden closure has raised eyebrows.

Congress leader and former Union Minister Kapil Sibal demanded an independent inquiry into the affairs of this company. “Only an inquiry will reveal why this company was allowed loans worth several crores of Rupees without any mortgage or security,” Kapil Sibal tweeted.

Addressing a press conference on Sunday afternoon, Sibal took a jibe at the NDA Government and said everybody knew which companies would be investigated by agencies like CBI and ED and which companies would be spared. But still he dared the Prime Minister to order an investigation into the affairs of Temple Enterprises Pvt Ltd.