Thiruvambady Devaswom in financial crisis, to sell off assets including convention centre

Thrissur: The Thiruvambady Devaswom, one of the major partners of Thrissur Pooram, is facing an acute financial crisis and is planning to sell valuable assets as a means to pay off liabilities. As part of the move, assets including Thiruvambady Convention Centre located in the heart of Thrissur city, 37.5 cents of land near Shoranur Road and Sandeepani Vidya Nikethan School in Kuttumukku, will be sold off. The devaswom has approached the Cochin Devaswom Board and submitted a request in this regard. 

As per reports, the decision to sell the assets was taken during a special meeting of devaswom members held on January 29, 2023. The action was taken as there were no other ways left to overcome the financial crisis, faced by the devaswom and its members, which accounts for crores. Most of the liabilities are reportedly the result of the loan taken to construct the convention centre. 

Devaswom secretary K Gireeshkumar had written to the Cochin Devaswom Board seeking permission on August 7. The letter was accepted in file by the board on October 1. However, a decision is yet to be taken. 

The Thiruvambady Convention Centre located on Marar Road is very popular in Thrissur. The 37.5 cents of land in Shoranur was bought by the devaswom when it was free of liabilities. Further, Sandeepani Vidya Nikethan was set up in 2002 as a nursery school. 

Thiruvambady and Paramekkavu Devaswom are the current dominant partners in Thrissur Pooram, which has a history of over three centuries.