Thiruvananthapuram: Kerala Industries Minister P Rajeeve on Saturday said that a probe must be conducted to confirm the reason behind the death of P Unni, an employee of the state-owned Traco Cable, by suicide.

Company staff started a protest against the government, alleging that Unni ended his life due to disappointment over the unpaid salary. In the videos aired on news channels, the protesters were seen setting fire to the minister Rajeev's photo, alleging the government's lapses in addressing the company's issue.  Amid these protests, the minister confirmed that the company has been in a state of decline for the past 15 years.

“The company's accumulated loss touched Rs 245 crore. The LDF government borrowed Rs 14 lakh for Traco. A total of 30 lakh was already allotted to the firm. However, its Thiruvalla and Irumbanam units are not profitable. Its unit at Pinarayi in Kannur generates income by selling cables used by KSEB to electrify houses. The government had framed a revival package for the company. We had planned to merge Thiruvalla and Irumbanam and give the 38-acre plot at Irumbanam to Infopark for lease," said the minister.

"While merging the two units, employees in Irumbanam would be transferred to Thiruvalla. When Infopark takes over the land, they should make a payment to the government. So, we planned to use this fund to address the grievances of employees and pensioners. However, two trade unions approached the High Court to seek a ban on this move. So, the revival package came to a halt,” he said, adding that no bank would lend to a firm with an accumulated loss of Rs 245 crore.

“The company has been in a financial crisis for 15 years. National Company Law Tribunal (NCLT) had initiated insolvency proceedings against Traco over non-payment of dues,” said the minister.  

“Traco managing director and officials visited the family of the employee who died by suicide. The factors that forced the man to end his life would be ascertained only after talking to his family members. An inquiry should be conducted to confirm the reason,” said the minister. 

P Unni (54), a Kakkanad native, was found hanging inside his house on Friday night. According to relatives, Unni was distressed as he had not received his salary for the past 11 months. Colleagues of Unni told Manorama News that he was anxious as his daughter’s wedding was approaching and was worried about arranging the needed funds.