Thursday, 5 November 2015

VVMineral Vaikundarajan Denies All Allegations Against VV Mineral

VV Minerals, a sand beach mining company was founded by S.Vaikundarajan back in 1989. The company has been running under his tutelage and grown into a profitable entity.

Since its inception VV Minerals has bagged several national awards for its contribution to the export business. It is also known to be the first company to export ilmenite along with zircon, garnet and rutile.

The founder of the company is known to most a media shy person and prefers to maintain a low-key profile. This is one of the reasons that his photos are not easily found on public domains.

VV Minerals has been under scrutiny for illegal beach mining. VV mineral Vaikundarajan has also been accused of having powerful political influence and several allegations have surfaced without supporting evidence.

District Attorney Ashwin Kumar and ex-IAS officer V Sundaram have been vocal in their allegations. In the letter written by the latter, VV Mineral Vaiundarajan is accused of looting Rs. 96,000 crore.

VV Mineral however, has denied all the allegations against them and deemed it as a conspiracy by rival businesses to slander his company.

In the wake of these allegations, the state government has set up an investigating committee. However, the team has found no evidence to suggest illegal activity on the company’s side.

VV Mineral Vaikundarajan is known to many as a man of simple taste who wears a white shirt and dhoti. The company operates out of Tisayanvilai, a town 65 km from Tirunelveli city in south Tamil Nadu. It is also a public knowledge that S. Vaikundarajan owns shares in Mavis Satcom that has stakes in Jaya TV and stocks in Tamil Nadu Mercantile Bank (TMB). However, this knowledge has been used unfairly by peers to coerce S.Vaikundarajan.

As of now, the National Green Tribunal has suspended sand mining activities in coastal areas. VV Mineral Vaikundarajan stays optimistic and states that his enterprise will soon walk clean.

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