The State Assembly on Wednesday passed a Bill for the acquisition and takeover of the handloom weaving factory owned by Commonwealth Trust (India) Ltd. located in the heart of Kozhikode city.
The factory had been in crisis for a long time and the employees helpless. The Commonwealth Trust, Kozhikode (Acquisition and Transfer of the Undertaking) Bill, 2012, envisages the Kerala State Industries Development Corporation forming a subsidiary company for rehabilitating the undertaking and establishing an industrial museum and production centre in 1.5547 hectares of land and buildings being taken over by the government, paying compensation to the owners after deducting the liabilities of the undertaking.
The Bill, piloted by Industries Minister P.K. Kunhalikutty, was passed without a discussion since the Opposition members were staging a demonstration in the Assembly at that time alleging corruption in a project to establish a new campus for Kerala Veterinary and Animal Sciences University.
