Kerala CM says Vizhinjam stake sale done without permission, conveys displeasure to Adani Ports
Kerala's Chief Minister has expressed strong disapproval to Adani Ports regarding a significant stake sale in the Vizhinjam International Port without state government consent. Opposition leader Pinarayi Vijayan also questioned the legality of the deal, citing the concession agreement which mandates prior approval for shareholding changes exceeding 25%. The controversy erupts following Adani Group's announcement of a 49% stake sale to Switzerland-based Terminal Investment Ltd.
Kerala's Chief Minister has expressed strong disapproval to Adani Ports regarding a significant stake sale in the Vizhinjam International Port without state government consent. Opposition leader Pinarayi Vijayan also questioned the legality of the deal, citing the concession agreement which mandates prior approval for shareholding changes exceeding 25%. The controversy erupts following Adani Group's announcement of a 49% stake sale to Switzerland-based Terminal Investment Ltd.
