Malayala Manorama, Arun Mammen and Black Money
The most influential media conglomerate in Kerala, Malayala Manorama, may have to deal with 'skeleton in their family cupboard'. As per a report in Tehelka Magazine , Arun Mammen is believed to have parked illegal money (black money) in a Swiss bank, LGT Bank of Liechtenstein. If the report has some truth in it, Manorama may have something to explain, as Arun Mammen is from the family that runs and controls Malayala Manorama group. I do not have access to exact and complete shareholding details of Malayala Manorama, but the perception of educated public in Kerala is that the Mammen family owns Malayala Manorama. Something that is in the public domain is the ownership of MRF Ltd. Arun Mammen is the Managing Director of the company that reported more than Rs.8,000 crore sales in the financial year 2010. Promoter and Promoter group shareholding pattern of the company available at MRF website shows, The Malayala Manorama Co Ltd, M. M. Publications Limited, M M Corporation and man...