Thiruvananthapuram: Chief minister V D Satheesan on Friday reiterated that state govt hadn’t granted any approval or taken any decision permitting the proposed transfer of shares in Adani Vizhinjam Port Pvt Ltd to MSC Group.While responding to a letter from opposition leader Pinarayi Vijayan over the issue, Satheesan said Clause 5.3 of concession agreement signed between state govt and Adani Vizhinjam Port Pvt Ltd made the former’s prior approval mandatory for any transfer of more than 25% of the company’s shares.He said govt informed opposition leader on July 1 that it had not been notified by the company about any proposed share transfer. The first communication from Adani Group reached govt only later that day, said chief minister.Satheesan said govt conveyed its dissatisfaction to the company the very next day over its decision to approach Securities and Exchange Board of India (Sebi) without first obtaining state’s prior approval. A second letter from the company was received on July 3, he said, adding that the developments were disclosed during his July 8 news conference.Chief minister said cabinet entrusted an empowered committee headed by chief secretary with examining the matter, and govt would take further decisions solely based on protecting state’s interests.Rejecting one of Vijayan’s allegations, Satheesan clarified that Kerala govt was not an equity shareholder in Adani Vizhinjam Port Pvt Ltd. He said govt’s authority arises from the concession agreement and not from any shareholding in the company.He pointed to Clause 5.8 of concession agreement, barring any company from monopolising the common user facilities at the port. Besides state’s approval, clearances from Centre on security-related aspects would also be required for any share transfer, he said.Chief minister maintained that no approval connected with the proposed share sale was issued during the present UDF govt’s tenure. The process was initiated by Adani Group before it assumed office, he alleged.Turning the criticism back on opposition, Satheesan questioned whether discussions on the proposed transaction began during previous LDF govt’s tenure. He referred to the participation of senior MSC representatives at Vizhinjam Conclave organised by LDF govt in 2025. He cited reports published by CPM mouthpiece Deshabhimani in June and July this year, referring to MSC’s interest in acquiring a 49% stake and ongoing discussions with Adani Ports and Special Economic Zone Ltd.Chief minister asked opposition leader to disclose whether there was any communication or action by Adani Group regarding the proposed share transfer during previous LDF govt’s tenure. CM challenged Vijayan to specify what wrongdoing, if any, was committed by present UDF govt in the matter.
