The Hindu : Kerala / Kochi News : Plea against airport share subscription

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Thursday, Feb 03, 2011
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Plea against airport share subscription

Special Correspondent

Kochi: The Kerala High Court on Wednesday directed the government to inform its view on a writ petition filed against the decision of Kannur International Airport Limited to restrict minimum subscription of shares of the company to 2001.

The petition was filed by Valiyedath Sasi, coordinator Pravasi Council, Kerala Trust, Kozhikode. According to him, the decision of the company to fix the minimum subscription of shares was arbitrary.

He pointed out that the decision to invite subscription for shares in white paper went against the procedure prescribed by the company laws.

Limiting of minimum share subscription to 2001 shares had dashed the hope of small investors such as the petitioner and other non-resident Indians to subscribe to the shares of the company.

The attempt of the company was to allow only those who were close to the power that be to apply for the shares. The petitioner pointed out that the government was bound to see that the procedures under the laws were complied with by the company.

Contempt case

The hearing in the contempt of court proceedings suo motu initiated against CPI(M) leader M.V. Jayarajan for making remarks against High Court judges began on Wednesday before a Division Bench comprising Justice A.K. Basheer and Justice P.Q Barkathali.

Mr. Jayarajan was present before the court when the case was taken up for hearing. Senior counsel for Mr.Jayarajan submitted that the Malayalam word uttered in his speech could never be understood as having a derogatory meaning.

He contended that the criticism made by Mr. Jayarajan against the judgment banning road side meetings was with “honest intention and bona fide purpose” and he was only expressing his opinion in respect of the judgment in public.

The hearing was adjourned to next week.

Petition adjourned

A bench comprising Justice Thottathil B. Radhakrishnan and Justice P.S. Gopinathan adjourned to February 9 the writ petitions relating to the Sabarimala Makarajyothi issue.

While the petition filed by Sreeni Pattathanam, general secretary, Bharatiya Yukthivadi Sanghom, and another person sought to declare that the participation of the government departments in the lighting of lamps at Ponnambalamudu was unconstitutional, the petition moved by Peringamam Sankarnarayanan Namboodhiri, former Melsanthi of Sabariamala temple, pleaded for a declaration that the Makaravilakku was part of the ritual and that it should not be stopped.

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