Kochi: Late M.K.K. Nayar, the force behind the rise of Fertilisers and Chemicals Travancore Limited (FACT) into one of Kerala’s first successful industrial units in the sixties and seventies, was victimised at the behest of a powerful central leader which cost the state dear, according to former additional chief secretary Dr D. Babu Paul.
Delivering the M.K.K Nayar Memorial lecture here organised by the Kerala Management Association on Monday, he said Nayar, the former chief managing director of FACT, had faced CBI probe with the investigation agency framing charges of amassing wealth disproportionate to his income and misuse of official machinery against him. However, he was acquitted by the court of all charges after a legal battle extending over 10 years and the acquittal came just a month before his death in 1987.
“The state lost the services of the IAS officer who had contributed immensely in the industrial, social and cultural arena till the CBI framed the false charges against him,” Dr Paul said. “Later I had a chance to speak to the then CBI investigation officer post his retirement as superintendent. The truth came out from the horse’s mouth. He told me that during the raid at Nayar’s residence, the agency had seized his personal diary in which he had written derogatory remarks about then prime minister, a powerful leader.”
“His unparalleled management skills and initiative also brought about many adversaries who ensured the union leader gets to know the contents of the diary promptly. This resulted in his lengthy trial and many in his close circles gave statements against him due to political pressure. He had to devote his hard-earned money and time to fight the case. The loss was ours,” he said.
The English translation of the autobiography of Nayar titled With Malice Towards None, The Chronicle of an Era was released in the event.
