Dispute between Kitex Group and some of Kerala’s political people continues!
In a latest development, a group of MLAs met District Collector Jafar Malik and alleged that Kitex Group was using its Corporate Social Responsibility (CSR) funds to achieve political ends.
Kitex Garment is one of the leading Indian apparel exporters and has been in limelight ever since it scrapped its huge expansion plan in the state and decided to opt for Telangana.
As per media reports, MLA PT Thomas alleged that Kitex Group is using its CSR funds for political purposes, while according to rules CSR fund utilisation should be above political considerations.
Twenty20 Kizhakkambalam governs Kizhakkambalam panchayat and is headed by Sabu Jacob, MD, Kitex Garments.
The group of MLAs included Eldose Kunnappillil and PV Sreenijin. The meeting with the Collector was also attended by officials of departments like factories and boilers, agriculture, industries, health and labour departments as well as the Pollution Control Board.
The media report also says that Sabu Jacob ridiculed the charge and said that Kitex Garments was a listed company, which adhered to the listing norms of the Securities and Exchange Board of India (SEBI).
The accounts, both company and CSR funds, are statutorily audited, he said and claimed that those who made the allegations were not aware of the rules governing listed companies.
It should be mentioned here that almost 3 months ago, the dispute between garment export giant and the State Government came into light after the export house alleged that it is facing plenty of inspections by the Government officials.
The MLA also alleged that the accounts submitted by the company to the Provident Fund, Employees State Insurance, Labour and Factories and Boilers departments on the actual number of employees varied widely.
Source : https://in.apparelresources.com/