Congress poses twelve questions to BJP on Piyush Goyal-Piramal transaction


Rubbishing Bharatiya Janata Party’s explanation that Union Minister Piyush Goyal and his wife Seema Goyal sold their Flashnet shares to Piramal Estates Pvt Ltd in July 2014 and so it was not included in his declaration of assets and liabilities to the PMO on July 25, 2014, the Congress on Monday released a document alleging that the Minister in fact, sold their shares in Flashnet to Piramal Estates on September 2014. This proves that the government in power has once again resorted to lying in order to save itself from charges of corruption. This also raises serious questions on the credibility of the Modi government, Prime Minister Narendra Modi and his ministers.

Congress on Monday released a copy of the Flashnet Directors’ Report 2015, which confirms the above-made claim by the Congress Party.

Afterwards, the Congress posed 12 questions on Piyush Goyal-Piramal transaction. Let’s see when BJP is able to respond to these.

  1. If the shares were sold on September 29, 2014, as is clear from the Directors’ Report, 2015 (see above), why is there no change in the holding value of shares in Piyush Goyal’s asset declaration prior to sale and post-sale?
  2. Was Flashnet Info Solutions a company providing consulting services? Apart from Piyush Goyal, who were the consultants in the service of the company until 31-3-2014?
  3. Is it not true that as on 31-3-2014, the total assets of the company (including trade receivables and loans & advances) was only ₹14.24 crore?
  4. Is it not true that as on 31-3-2014 the net worth of the company (assets minus liabilities) was only ₹12.50 crore?
  5. Is it not true that Mr. and Mrs. Goyal, between them, held practically all the shares (50,020 shares) of the company?
  6. Is it, therefore, not true that the value of the 50,020 shares, at best, could be only ₹12.50 crore as on 31-3-2014?
  7. Why did the Piramal company buy the shares of Flashnet for nearly ₹50 crore — that is almost four times the value of the shares?
  8. The only “asset” of Flashnet appears to have been Mr. Piyush Goyal, the consultant working for Flashnet. Without that “asset” what was the value of Flashnet when the Piramal company bought the shares and took over Flashnet?
  9. How was Flashnet with a net worth of ₹12.50 crore as on 31-3-2014 valued at ₹50 crore within a few months after 31-3-2014?
  10. Was Mr. Piramal buying only the 50,020 shares of Flashnet or was he buying something more for which he paid ₹50 crore?
  11. Why was the name of Flashnet Info Solutions (India) Limited changed to Aasan Info Solutions Private Limited soon after its sale by Piyush Goyal and his wife Seema Goyal to Piramal Estates Private Limited? Why did all four members of the Piramal family resign from the Board of Flashnet just days after buying the company from Piyush Goyal and Seema Goyal?
  12. Why is Piyush Goyal shying from making the valuation report of Flashnet Info Solutions (India) Limited public? When will he make this report public?

Also read: Is PM Modi embarrassed by Tripura Chief Minister Biplab Deb?

In the latest development, Union Minister Piyush Goyal’s controversy has got murkier. Now, EC records reveal that Piramal Group companies donated Rs. 28 crore to an electoral fund, a whopping 89% of which went to the BJP.

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