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Piyush Goyal's Family Business Earned Profit of Rs 30 Crore, Says Congress; BJP Rubbishes Claim

The party alleged that Intercon Advisors Pvt Ltd, a company owned by Seema Goyal, with a paid-up capital of Rs 1 lakh, had ended up with earnings of Rs 30 crore -- earning Rs 30,000 per share of the total 10,000 allotted shares.

IANS

Updated:April 11, 2018, 9:38 AM IST
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Piyush Goyal's Family Business Earned Profit of Rs 30 Crore, Says Congress; BJP Rubbishes Claim
File photo of Railways Minister Piyush Goyal.
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New Delhi: The Congress on Tuesday said Railway Minister Piyush Goyal must be sacked and a judicial probe ordered by a Supreme Court judge into charges that a company owned by his wife earned a profit of Rs 30 crore on a paid-up capital of Rs 1 lakh in 10 years.

The party alleged that Intercon Advisors Pvt Ltd, a company owned by Seema Goyal, with a paid-up capital of Rs 1 lakh, had ended up with earnings of Rs 30 crore -- earning Rs 30,000 per share of the total 10,000 allotted shares.

"This must make it the most valued company in recent corporate history," the party said.

"Truth is that the position of Piyush Goyal stands compromised leaving it untenable for him to continue as a union cabinet minister and he should be sacked immediately," said the party.

The Congress questioned Prime Minister Narendra Modi and Finance Minister Arun Jaitley's silence on the issue.

"The Modi government's fake edifice of self-proclaimed transparency, accountability and honesty lies in tatters.

"Skeletons of conflict of interest, sweetened deals, gross impropriety and bank loan defaults are tumbling out every day," said Congress spokesperson Pawan Khera.

Khera said: "Piyush Goyal and Seema Goyal are owners of Intercon Advisors Pvt Ltd. Piyush Goyal resigned as a director on May 13, 2014 (just before becoming a cabinet minister) and transferred his shares to his wife.

"Presently, Seema Goyal owns 9,999 shares and one share is owned by Dhruv Goyal, son of Piyush Goyal, It is a 100 per cent family-owned company," he added.

"In 2007-08, 2008-09, 2014-15, 2015-16 and 2016-17, Piyush Goyal and family did not even disclose the complete source of earnings of Intercon Advisors Pvt Ltd by merely describing it as consultancy fee, short term capital gains or profit on future and options, without giving any details," he added.

Hitting back at the Congress over its allegations against Goyal, the BJP, in a late night statement, said the party was making "false", "sensational" and "scurrilous" statements to divert attention from the many scams committed by it.

The BJP said that the Congress was misrepresenting the income earned by Goyal through professional consultancy.

"The Congress continues its past record of making false, sensational and scurrilous statements to divert attention from huge scams of Congress party and its leaders which are in public domain," the statement said.

It said while Goyal was a preeminent chartered accountant and financial advisor in the country before May, 2014, he wound up all professional activities after becoming a Union minister.

"From July, 2014, Goyal resigned from the board of the company and it effectively started functioning as an investment company managing its own investments," the BJP statement said.

The saffron party also said that though as a professional, Goyal was running his businesses through a number of firms, he fully dissociated himself from all these companies during 2014.

It said while Goyal was on the board of Shirdi Industries Ltd from April 25, 2008 to July 1, 2010, he had nothing to do with it or its associated companies since then.

"A cursory scrutiny of their statutory filings also discloses that the statements made by Congress about the alleged loan amount was totally incorrect, false and a malicious attempt to defame Goyal," it stated.

(With inputs from PTI)
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