Jayarajan's family in bid to shed Vaidekam resort shares worth lakhs

CPM leader P Jayarajan had demanded a party inquiry regarding the resort at a recent party state committee meeting. Photo: Manorama Online

Thiruvananthapuram: Amid facing an IT Department inquiry and the ongoing political controversy, the family of LDF convener E P Jayarajan has decided to get rid of its share in the Vaidekam Ayurveda Resort at Morazha in Kannur.

Jayarajan’s wife Indira and son Jaison are the ones planning to sell their shares. They have a total of 9,199 shares. Indira’s shares are valued at Rs 81.99 lakh while Jaison has shares worth Rs 10 lakh.

CPM leader P Jayarajan had demanded a party inquiry regarding the resort at a recent party state committee meeting. Former MD of the firm, K P Ramesh Kumar, and his daughter hold 9,999 shares worth Rs 99.99 lakh. Indira is the largest individual shareholder in the firm.

The Income Tax Department TDS (Tax Deducted at Source) wing has issued a notice to the Vaidekam Ayurveda Resort. It has sought details and documents regarding the contracts related to the construction of the resort. Additionally, it has asked for documents regarding the investments of the owners. The IT wing wanted to know about the shareholders of Kannur Ayurvedic Medical Care Private Limited, which owns Vaidekam, and how many shares they hold. It also sought the details and documents regarding the purchase of land for the resort.

The Income Tax Department officers maintain that they are checking whether the tax deducted from the contractor who undertook construction has been promptly remitted to the department. However, the queries from the department on the investment of the owners indicate it is trying to bring clarity regarding the financial source of the resort and the dealings behind it.

The TDS wing conducted an inspection at Vaidekam on March 2. The Vaidekam resort authorities said the details regarding the company shareholders are already with the government. But since the IT Department asked for it, we have given them all the details, they said.

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