KANNUR: CPM central committee member and LDF Convener E P Jayarajan is reportedly planning to sell off the shares owned by his wife P K Indira and son P K Jaison in Kannur Ayurvedic Medical Care Private Limited, which is the holding company of Vaidekam Ayurveda Resort at Vellikkeel in Morazha Village, Kannur.
According to sources, the decision to sell the shares worth Rs 81.99 lakh owned by Indira and Rs 10 lakh owned by Jaison has been communicated to the company’s board following the IT raids in the resort and the controversies surrounding Jayarajan’s involvement with the company.
Isolated in the party and cornered by the unexpected raids and inspections from the agencies, Jayarajan reportedly feels the pressure and has decided to cut his connection with the resort to avoid any upcoming trouble.
The company was registered on December 9, 2014, with K P Ramesh Kumar, a close associate of many CPM leaders in the district, as Managing Director and P K Jaison as the Chairman. It was state committee member P Jayarajan, who had raised the issue first, before the party in a state committee meeting, held in December 2022.
Nursing the wounds of being neglected for the post of party secretary, Jayarajan tried to hit back against the leadership by not cooperating with the party programmes and agitations. However, Jayarajan soon realised that he doesn’t have the support from the top leadership, and his absence from the party programmes would only make him more insignificant, and decided to come back to the party programmes.
His presence in the Janakeeya Prathirodha Jadha on March 13 at Thrissur was interpreted as a sign of getting mellowed down. But, for the strongman of Kannur, things are looking difficult, as the TDS team of the IT department conducted an inspection at the resort on March 2.
They have served a notice to the resort demanding the details and documents about the contracts in connection with the construction of the resort, investments in the company, and the transaction details of the land on which the resort was constructed. They also asked about the shareholders and shares owned by each person. Meanwhile, ED has also received a complaint regarding money laundering under the cover of the ayurveda resort.