An Ayurvedic treatment center in Kerala, in which the family of a senior CPI(M) leader has invested, has entered into a business deal with Niraamaya Retreats, a hospitality venture backed by private equity firm Jupiter Capital, founded by BJP Union Minister Rajeev Chandrasekhar.
According to sources, Vaidekam Ayurvedic treatment center in Kannur’s Morazha village handed over operations to Niraamaya Retreats to revitalize its business. The controversy over Vaidekam had arisen when senior CPI(M) leader E P Jayarajan’s rivals demanded an investigation into the financial dealings of his wife and son, who hold shares in the resort.
However, Jayarajan has denied any involvement in the property and stated that his wife and son are free to make their own investment decisions. Jayarajan on Wednesday told the media in Kannur, “I want to see that institution emerge as a leading ayurvedic treatment center. My wife and son are free to take any decision about their investments.
The Leader of the Opposition has alleged that there may be politics behind the deal between the two parties, but sources have denied any political involvement and stated that Vaidekam investors were looking for a professional partner to run the Ayurvedic center. “This is a give and take between the two sides. When CPI(M) leader was in trouble, BJP came to the rescue. There is a camaraderie between them,’’ he said.