E.P Jayarajan seeks compensation from nephew over Vaidekam investment allegations

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E.P. Jayarajan | Photo Credit: FILE PHOTO

Communist Party of India (Marxist) [CPI(M)] leader and former Left Democratic Front (LDF) convener E.P. Jayarajan has sent legal notices to his nephew E.P. Shyamjith and a news channel over allegations concerning investments in the Vaidekam Ayurveda Resort in Kannur. He has demanded compensation of ₹50 lakh from each of them.

Mr. Jayarajan has demanded that the allegation be withdrawn and an apology issued. The legal notices stated that the claims have damaged his reputation.

The controversy began after Mr. Shyamjith, Mr. Jayarajan’s sister’s son, alleged that the money invested in the resort by Mr. Jayarajan’s wife Indira belonged to Cochin Minerals and Retail Limited (CMRL) managing director S.N Sasidharan Kartha.

In a social media post, Mr. Shyamjith questioned how much Ms. Indira had received as retirement benefits after retiring from Kerala Bank and whether that amount could have been invested in the resort. He also raised questions about other investments in the establishment and claimed that more documents and details would come out. The posts were later deleted.

Mr. Shyamjith initially claimed that his Facebook account had been hacked. However, he later stood by the allegations and demanded an investigation into the resort’s financial transactions.

Mr. Jayarajan strongly denied the allegations, asserting that he has conducted no financial dealings with Mr. Kartha and that he held no shares in the Vaidekam resort. He maintained that his wife had invested her retirement benefits in the company in 2022-23 period through a bank transaction. He also said that he had only helped the resort during its initial stages.

The issue has also led to allegations and counter-allegations involving Mr. Shyamjith’s wife Deepa, who worked as an accounts manager at the resort.

Mr. Jayarajan alleged that Ms. Deepa had committed financial irregularities involving around ₹5 lakh. It claimed that fake signatures were used on vouchers to withdraw money and that company-purchased electronics items were used for personal purposes. The resort management later released copies of vouchers to support its allegation. It also accused Mr. Shyamjith of using a visiting card identifying himself as the resort’s public relations officer and collecting money without authorisation. The management said it had filed complaints with the police against Mr. Shyamjith.

Mr. Shyamjith, however, denied the allegations against his wife and questioned the manner in which she was removed from the company. He said she was not given a proper opportunity to explain her side.

The latest legal notices served through Mr. Jayarajan’ advocate K. Viswan have added another dimension to the ongoing dispute over the resort’s investment and financial dealings.

When contacted, Mr. Shyamjith said that he has yet to get a legal notice. “I will respond to the detail and all other queries after going through the notice,” he added.

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