P. Rajeeve questions Kerala CM’s stand on Adani Group’s move to sell Vizhinjam port stake

Communist Party of India (Marxist) [CPI(M)] leader and former State Industries Minister P. Rajeeve on Friday slammed the Adani Group’s proposed sale of 49% stake in the Adani Vizhinjam Port Private Limited (AVPPL), the concessionaire of the port, to the Switzerland-based shipping major MSC Group, terming it a blatant violation of the concession agreement signed by the State government and the AVPPL. Addressing reporters here, Mr. Rajeeve alleged that Chief Minister V.D. Satheesan’s response to the controversy was ambiguous.

As per the existing concession agreement, prior approval of the State government is required for the transfer of the said volume of the shares. Still the company has already signed a preliminary agreement and publicised it after informing the Securities and Exchange Board of India (SEBI), the CPI(M) central committee member said. “After all this, the Chief Minister has only expressed displeasure over the Adani Group not communicating the share transfer move to the government. Why doesn’t the Chief Minister show the courage to say that strict action will be taken against the violation of contract terms,” he asked.

Mr. Rajeeve also expressed doubts over the genuineness of the government’s decision to examine the Adani Group’s proposal, citing the possible conflict of interest in the Chief Minister handling portfolios involved in the matter, including finance, ports and law.

Mr. Rajeeve sought to corner Mr. Satheesan over the response of All India Congress Committee (AICC) general secretary K.C. Venugopal to the controversy that Adani Group cannot act like a “super government” in Kerala like it does in BJP-ruled States. “The AICC general secretary’s response makes it clear that even he doubts from the recent experiences if the BJP is ruling Kerala,” he said.