Thiruvananthapuram, Oct 30 (IANS) The Kerala government on Friday night ordered a detailed Vigilance investigation into the acquisition of 4,896 acres of land in Kannur district through the Kerala Infrastructure Investment Fund Board (KIIFB), involving an estimated expenditure of Rs 12,240 crore, over alleged procedural lapses and concerns about the financial viability of the project.
Chief Minister V.D. Satheesan, soon after taking over, had, in one of his first decisions, appointed an expert committee to study the affairs of the KIIFB.
Early this month, the committee submitted its report, and Satheesan tabled it in the Assembly. In the previous cabinet meeting, the decision to probe this action was made, and the orders for the purpose were issued on Friday.
The Vigilance Director has been entrusted with the probe, which will examine the circumstances and procedures that led to the decision to acquire such a vast extent of land and the financial transactions connected with it.
The order comes amid serious concerns over the absence of a comprehensive cost-benefit analysis or clearly defined commercially viable projects to justify the acquisition and the huge financial commitment involved.
At its 33rd meeting, the KIIFB had approved the acquisition of 5,336 acres in Palakkad and Kannur districts at a total estimated cost of Rs 12,710 crore.
This included 470 acres in Palakkad and 4,896 acres in Kannur.
The decision was reportedly based on a concept note submitted by the KINFRA, without a detailed assessment establishing the necessity of acquiring such a large extent of land or its potential economic returns.
The order points out that proceeding with the acquisition without a clear commercial project structure or financial justification could impose a substantial burden on the public exchequer, raising serious questions about financial prudence, accountability, and the use of public funds.
The Vigilance investigation will examine the rationale and criteria adopted for the acquisition, and whether the provisions of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013, were followed in determining land prices and compensation.
It will also look into possible irregularities or manipulation in the valuation process and whether real estate transactions or other vested interests influenced the decision.
–IANS
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