NEW DELHI : A company owned by BJP chief Amit Shah's, has risen 150 times revenue-wise, after the party came into power in 2014.
The news was released by Caravan magazine, after Jay Shah's firm - Kussum Finance LLP - filed a delayed statement of accounts with the Ministry of Corporate Affairs(MCA).
Jay is the company's director however, the nature of business is not immediately clear. The company has received enormous loan money from several financial institutions including banks.
The company, Kusum Finance LLP, ticked 79.6 lakhs in revenue in 2013-14, It quickly rose to 119.61 crores by 2018-19.
In same vein, the value of the firm stood at 1.21 crores in 2015 and spiraled to 25.83 crores in 2019. Liabilities deducted from assets indicates value of a firm
In 2019, the company's funds amounted to 37.80 cores of which 23.25 crore was invested in stock market and the rest used in routine expenditure.
Curiously, Kusum Finance did not file the mandatory accounts statement in 2017-18 and yet was spared from proceedings initiated in such cases against a company.
The firm Kusum Finance came into being in 2013. It later registered as a limited liability company (LLP) which means, the Director bears no financial obligations, should the company run into crisis in future.
Jay's another enterprise, Table and Chairs, saw a whopping 16,000 times growth in revenue in 2016.
It is believed, Jay delayed filing records last year, to avoid the issue surfacing during parliamentary elections.
Mandatory Statement of Accounts are to be filed before 30 October each year.
