Thiruvananthapuram: The state govt has decided to entrust vigilance and anti-corruption bureau (VACB) with a probe into the circumstances surrounding Kerala Infrastructure Investment Fund Board (KIIFB)’s land acquisition in Kannur, including the financial implications of the transactions.The decision comes amid allegations of large-scale financial irregularities in KIIFB’s land acquisition and concerns over the cost of land that has remained unused for years.Chief minister V D Satheesan, replying to a notice seeking an adjournment motion on KIIFB in the assembly on Wednesday, questioned the acquisition of around 4,000 acres of excess land in Kannur for about Rs 12,000 crore. He alleged that no work had taken place on the land for six years, while interest continued to accrue at 12% annually.Satheesan said a high court-appointed committee to examine the land had found that parts of it were quarried to depths of one to 10 metres, while other portions were filled with quarry waste and mud. He claimed banks were unwilling to lend even one-fifth of the price paid for the land when offered as a mortgage.The chief minister said govt wasn’t opposed to land acquisition for infrastructure projects but questioned the scale of acquisition in Kannur and the financial burden arising from it. He said govt wouldn’t allow irregularities in KIIFB’s functioning to go unexamined. The probe comes against the backdrop of UDF govt’s wider review of KIIFB’s financial commitments.
