Thiruvananthapuram: B. Ashok has been relieved of his duties as KTDFC Chairman and Biju Prabhakar, Managing Director of KSRTC. will take up the responsibility. The development comes between the ongoing tussle between KTDFC and KSRTC over loans.   

It should be noted that the finance department had submitted an affidavit to the Kerala HC the other day citing inability to bear the losses of KTDFC. It is reported that B Ashok was removed from the position of KTDFC Chairman as per the instructions of Kerala CM Pinarayi Vijayan.

KTDFC finds itself in a huge financial crisis at the moment. Currently, the finance corporation is unable to even pay back its depositors. The ordeal invited severe criticism from the High Court. With its latest move, the state government aims at resolving the differences between KSRTC and KTDFC. The decision to hand over the KTDFC responsibilities to Biju Prabhakar is looked upon as the first step towards it.

The post of KTDFC Chairman was an additional responsibility for B Ashok IAS until yesterday. It is also said that he was removed from the post upon his request.

The tussle between both the corporations had begun when B Ashok had publicly declared that KSRTC owes KTDFC money amounting to Rs 400 crores. This did not go well with the KSRTC Managing Director Biju Prabhakhar, leading to tensions.