Thiruvananthapuram: Kerala Tourism Development Corporation (KTDC) chairman and CPM activist P K Sasi on Tuesday dismissed rumours about his resignation, stating that he has no intention of stepping down from his position. "I have no plans to resign. The party appointed me as the chairman of KTDC and the speculation about my resignation is purely imaginary," Sasi told the media.

Recently, the CPM removed Sasi from all official party positions following allegations of a fund scam related to the organisation. He previously served as the district president of the Centre of Indian Trade Unions (CITU) and was a member of the party's district committee. When asked about the party's actions, Sasi declined to comment further, saying, "I don't need to explain the party’s decisions. Leaders will address them."

Previously, Sasi had been demoted from the party's district secretariat to the district committee following allegations of divisive activities. Complaints against him continued to pile up, prompting the party to investigate allegations regarding the misuse of funds collected for the Universal College under the Mannarkkad Cooperative Education Society. A party inquiry commission was set up to probe these accusations. The investigation revealed that Rs. 5.49 crore had been mobilised as shares from cooperative banks under CPM control, without the knowledge of party leadership.

The party's action against Sasi follows the inquiry commission's confirmation of fund misuse. Additionally, there are indications that the Mannarkkad area committee of the CPM has been disbanded due to escalating factionalism. These developments were reported during the district committee meeting.

Sasi, a former MLA from Shoranur, had previously been suspended from the district secretariat for six months after being accused of sexual misconduct involving a woman leader from the DYFI. He was eventually reinstated to both the district committee and the district secretariat.