'Move to hand over Vizhinjam port to corporates, big mystery'; LoP Pinarayi Vijayan responds

KANNUR: Opposition leader Pinarayi Vijayan alleged a mystery in the share transfer controversy circling the Vizhinjam port. Pinarayi asked how Adani gathered the courage to transfer the Vizhinjam share. The opposition leader also confirmed sending a letter to SEBI and the stock exchange authorities because the state government showed no caution in the matter.

“The Vizhinjam share transfer is a blatant violation of SEBI instructions. Where did Adani get the courage to transfer the shares without informing the government? There is a mystery. It is seen as a deliberate and firm transaction. The Congress leadership has given a free run to the Adani group in Kerala. A move is being made to hand over the Vizhinjam port to corporates. The opposition will confront this move politically and legally. Instead of becoming Adani's spokesperson, the government should protect the state's interests.

SEBI directed that the share transfer should be transparent and that the stock exchange authorities be informed. However, the share transfer has not even been informed to SEBI. A letter has been sent to SEBI and the stock exchange authorities. The letter was sent because the government is not considering these matters seriously. There is a provision that if more than 25 per cent of the shares are to be transferred, the government's prior permission is required. Share transfer cannot be made without the prior permission of the state government. The application submitted to SEBI did not meet the criteria. The agreement states that permission should be given only by respecting national security and public interest. An explanation should be sought on the application regarding the transfer of shares, and further action should be taken on this,” said the opposition leader.