No Conflict of Interest, Cong Running Malicious Campaign: Goyal

“No conflict of interest in Shirdi Industries”: Piyush Goyal

File photo of Union Minister Piyush Goyal.

(Photo: IANS)

Union Minister for Railways Piyush Goyal has denied the allegations of financial impropriety that have been levelled against him, and has stated that he has “no conflict of interest” in Shirdi industries.

In a statement issued on Thursday, 5 April, Goyal asserted that there has been "absolutely no wrongdoing or irregularity" on his part as he gave out details of the transactions.

Lashing out at the Congress for demanding that he be sacked from the Union cabinet, Goyal said that it was another episode of the party's "spit and run” politics to divert attention from main issues relating to the common man.

The malicious statement by the Congress party is factually misleading and makes incorrect conclusions with false and defamatory statements and it is full of factual inaccuracies, mix up of dates and allude to events with no relevance his brief association with Shirdi Industries Ltd.

Piyush Goyal Statement

He also accused the Congress for repeatedly engaging in campaigns that are “full of factual inaccuracies”. In his statement, the Union minister said:

For cheap political mileage the opposition party is running this type of  motivated propaganda.

Congress leaders, including Ghulam Nabi Azad and Veerappa Moily, on Wednesday, 4 April demanded his immediate sacking and a probe by a sitting Supreme Court judge into the issue.

The statement also claims that Goyal was an investment banker and Chartered Accountant when he was associated with Shirdi Industries Ltd. He has also reportedly served a whole time director for a brief period from 25 April 2008 till 30 September 2009 and, thereafter served as non-executive chairman till 1 July 2010 when tendered his resignation.

There was no fresh loan approved of Rs 258.62 crore as claimed by the Congress, he said, adding that it was only an enhancement of the existing loans from Rs 181.82 crore.

"It is important to note that I was neither a Member of Parliament nor the Director of State Bank of India (SBI) at the time of enhancement. Hence, there is no question of me influencing this loan enhancement," he said.

Goyal said the loan from Asis Industries to Intercon Advisors was not given in 2015-16 as alleged by the Congress but on September 24, 2012, a good two years after he left the company.

It was taken in the normal course of lending from Asis Industries at interest of 12 percent per annum which was higher than prevailing market rates, he said.

"The Congress cannot distinguish between a pure commercial transaction and the corrupt practices regularly indulged in by Congress and its leaders," he said, attacking the opposition party.

(The Quint sent a questionnaire to Piyush Goyal on 3 April 2018 regarding the financial transactions between Asis Industries and Intercon, a firm owned by his wife, Seema. Goyal has not responded yet. We will send him another set of questions on the basis of his statement.)