An astonishing increase in the turnover of Amit Shah, BJP President’s son, Jay Amitbhai Shah’s Temple Enterprise Private Ltd was revealed by the details filed by the firm in the Registrar of companies(ROC). This was published by a website and immediately elicited strong response from the Opposition and also the ruling party.
Company balance sheets and annual reports obtained from the RoC reveal that in the financial years ending March 2013 and 2014, Shah’s Temple Enterprise Private Ltd. engaged in negligible activity and recorded losses of Rs 6,230 and Rs 1,724 respectively.
But in 2014-15, it showed an unprecedented profit of Rs 18,728 on revenues of only Rs 50,000 before jumping to a turnover of Rs 80.5 crore in 2015-16. That was the year the Bharatiya Janata Party came to power and Amit Shah became the President of the victorious party.
Mysterious closure in 2016
What does appear unusual is that the firm, whose revenues jumped from just Rs 50,000 to over Rs 80 crore in a single year stopped its business activities altogether last year.
The explanation offered by Shah’s lawyer is: “Unfortunately, the business activities of the Temple Enterprise Pvt. Ltd. resulted in losses due to which the business activities were stopped sometime in October, 2016.”