Kannur airport shareholders protest against online annual general body meeting, file complaint with Central Ministry

Shareholders of the Kannur International Airport Limited (KIAL) have raised a complaint against the management’s decision to hold the company’s annual general body meeting online on September 23.

The complaint has been submitted to the Union Corporate Affairs Ministry, KIAL Chairperson, and the Kerala Chief Minister, according to leaders of the KIAL Shareholders Association. The shareholders argue that the decision to conduct the meeting online limits the participation to a select few, denying the shareholders the right to voice concerns about alleged irregularities and corruption within KIAL. They claim the virtual format prevents them from holding the management accountable for financial and operational decisions, including issues related to contract awards and managerial appointments.

The complaint further alleges that the authorities are obstructing the realisation of significant funds, which are crucial for the airport’s development through shares. Shareholders are demanding an offline meeting to ensure broader participation and transparency.

Abdul Khader Panakkat, representing the association, emphasised that the group will organise a movement to oppose the management’s stance and is prepared for a legal battle. The association has also expressed support for the action council’s hunger strike by Rajeev Joseph in Mattanur, aimed at addressing similar concerns about the airport’s management.

Published - September 19, 2024 11:11 pm IST