EP Jayarajan aims to end resort controversy, says will sell family's shares

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Vaidekam resort, EP Jayarajan l Photo: facebook.com/vaidekam1, Mathrubhumi

Kannur: With pressure mounting from inside and outside of the party, LDF Convener EP Jayarajan has finally decided to sell his family's share in Vaidekam Ayurveda Healing Village in Kannur.

Earlier, Jayarajan's investment in the resort placed CPM in a tough spot, with former Kannur district secretary P Jayarajan demanding a party probe. The controversy opened a debate over the prevailing factionalism in the party's strongholds in Kannur.

Jayarajan's wife Indira and his son Jaison would sell around Rs 1 crore worth of shares and loans held in the resort. The family hold 9,199 shares in promoting firm of the resort. Indira has majority shares worth Rs 8,10,9900 and has allocated loans worth Rs 25 lakh. Meanwhile, Jayarajan's son holds shares worth Rs 10 lakh.

As per the reports, their shares will be handed over to other stakeholders.

Meanwhile, Jayarajan has earlier stated that his wife bought shares in the resort using the amount received when she retired from a Co-Operative bank. The family views that it is wise to sell the shares instead of staining Jayarajan's political image.

On Wednesday, Income Tax (I-T) department issued a notice demanding resort authorities to furnish tax deduction at source (TDS) documents, details on investors, shareholders and others.

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