The Citizen Action Party, led by senior figure DB Chauhan, is demanding full transparency regarding the recent sale of shares in the Teesta Urja hydro project and other power projects in Sikkim prior to the upcoming election. Chauhan emphasized the party’s concern over the sale, particularly questioning the motives behind it, stating, “This move appears to showcase confidence in winning all 32 seats, but it involves selling off state assets.”
The sale in question involves Greenko’s acquisition of a 40% stake in Teesta Urja Ltd (TUL) for a substantial amount from Asian Genco Pte Ltd. This transaction has raised eyebrows, especially since the Government of Sikkim retains a significant 60% stake in TUL. Chauhan stressed the need for a thorough examination of the deal, particularly given the involvement of major private equity investors and the potential impact on the state’s assets.
Responding to queries about potential alliances, Chauhan announced the party’s decision to contest all assembly seats and one Lok Sabha seat independently. He emphasized the party’s commitment to fielding candidates in every constituency, signaling a clear intent to pursue their agenda without aligning with other parties. In a separate development, the Citizen Action Party announced Bharat Basnett as its new president, succeeding former President L P Kafley, who resigned from the position. Kafley’s decision to step down was described as voluntary, in accordance with party regulations prohibiting individuals from holding dual roles within the party’s hierarchy. It is anticipated that Kafley will contest the upcoming election under the party’s banner, further solidifying the party’s stance as it prepares for the electoral contest.
