KEF Holdings' Chairman Faizal E. Kottikollon appointed to SRTIP Board of Directors
Sharjah: Faizal E. Kottikollon, Founder and Chairman of KEF Holdings, has been appointed to the prestigious board of directors at the Sharjah Research, Technology, and Innovation Park (SRTIP). This appointment represents a significant milestone for KEF Holdings, with Faizal Kottikollon bringing his expertise and entrepreneurial vision to contribute to the development of SRTIP under the leadership of Sheikha Bodour Bint Sultan Bin Mohammed Al Qasimi.
SRTIP is poised to become a leading hub for cutting-edge research, technological advancements, and innovation in the region. The inclusion of Faizal Kottikollon on the board of directors reinforces KEF Holdings' commitment to innovation and sustainable impact in the fields of offsite construction, healthcare, education, and clinical wellness.
The esteemed board of directors comprises distinguished individuals such as His Royal Highness Prince Khaled bin Alwaleed bin Talal bin Abdulaziz Al Saud, Sheikh Dr. Majid bin Sultan Al Qasimi, Dr. Abdulaziz Saeed bin Butti Al Muhairi, Dr. Hamid M.K. Al Naimiy, Hussain Mohammed Al Mahmoudi, Dr. Susan Mumm, Najla Ahmed Al Midfa, Ahmed Obaid Al Qaseer, Khaled Issa Al Huraimel, Dr. Aisha Bint Butti Bin Bishr, Adel Abdullah Ali, Samer Salim Al Sayegh, Abdulaziz Basem Al Loughani, Mudassir Sheikha, and Alisha Moopen. Together, they will shape the strategic direction of SRTIP.
Faizal Kottikollon expressed his enthusiasm for the collaboration with SoiLAB, a venture within SRTIP, which aims to cultivate an environment conducive to creativity, technological advancement, and lasting impact on innovation, entrepreneurship, and technological progress not only in Sharjah but also beyond.
Faizal is the son of renowned Malayali entrepreneur and philanthropist PK Ahammed, Chairman of Peekay Group of Companies. He is married to Shabana Faizal, daughter of Late B Ahmed Haji Mohiudeen, Founder of B A Group, Thumbay, and a prominent business and community leader.
About KEF Group
KEF Holdings invest in businesses that are innovative, sustainable, cost-effective, and deliver positive disruptive solutions across core business sectors encompassing infrastructure, healthcare, and technology, to benefit society and build a better tomorrow.
It has a 20-year legacy of building successful businesses. It began its journey in 1995 with the opening of Al Ahamadi General Trading in Ajman, following this it launched a world-class Foundry, and a valve trading company JC Middle East. It then created Emirates Techno Casting, an integrated facility incorporating cutting-edge engineering and design lab, the world’s largest automatic molding line, steel refining furnace, machine shop, and research and development lab, rated among the top 3 technologically advanced foundries in the world.
In 2012 Tyco International, bought the business for USD 400 million, becoming the impetus for the launch of KEF Holdings' two new verticals KEF Investments and KEF Infra. KEF Investments, have built a global investment portfolio by capitalizing on low-risk, high-income opportunities in growing markets.
In the year 2018, KEF Infra announced a strategic merger with Katerra, the Menlo Park US-based technology company, revolutionizing the design and construction industries.
Staying true to its belief of being a social enterprise the company, in close collaboration with stakeholders in the public and private sectors, actively drives, funds, and supports high-impact social activities undertaken by the Faizal & Shabana Foundation
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Heated debate in Karnataka Legislative Council over continued ACC mining in Kalaburagi
Bengaluru (PTI): A heated exchange took place in the Karnataka Legislative Council on Tuesday over alleged non-payment of mining dues and the "unauthorised" continuation of quarry operations by the Adani Group’s ACC Limited, with ruling Congress and the opposition BJP members questioning the government’s handling of royalty recovery and permissions.
Raising the issue during Question Hour, Congress MLC K Shivakumar, speaking on behalf of his party MLC Arathi Krishna, alleged that substantial royalty dues remained unpaid even as operations continued.
Krishna wanted to know whether the Karnataka government was aware that the lease period granted to Adani Group’s ACC Ltd for mining in the Kannur Limestone Block at Wadi in Kalaburagi has expired.
“If it is true, what action has the government taken against the said company for allegedly carrying out unauthorised mining at the site without paying the total dues of Rs 850.21 crore towards royalty, rent or penalty payable to the state government?” she asked in the written question.
She claimed that despite the Law department having given a written opinion to the Mines department that the said company should not be permitted to undertake mining activities until it clears all pending dues payable to the government, no legal action has been initiated against ACC, and instead a letter has been written to the central government regarding renewal of the lease in favour of the company.
Krishna questioned the apparent disparity in enforcement between small quarry operators and large corporate entities.
“After the Adani Group took over quarrying, they had to pay Rs 837 crore as royalty. Till today, they have not paid the royalty. What prompted you to exempt them from this royalty?” asked Shivakumar, on behalf of Krishna.
“If there is any small quarry operator, if he does not pay royalty, you do not allow him... You just bring him and seize it.”
BJP MLC C T Ravi echoed similar concerns, questioning the legal and procedural basis for allowing participation in bidding and continuation of operations despite pending dues.
“Do your rules allow those with pending dues to participate? If such a provision exists, under which rule does it exist?” he asked, also seeking clarity on recommendations of the High-Level Committee, Law Department and concurrence of the Finance Department.
Responding to the allegations, Minister N Cheluvarayaswamy, replying on behalf of the Mines and Geology Minister S S Mallikarjun, maintained that no fresh licence had been granted and that the matter involved both an existing mining lease and a separate new application still under process.
He said the company had applied through the bidding route and was given time to complete formalities, which had since been done.
The minister explained that the issue of dues was pending before the court, which has allowed operations to continue subject to certain conditions.
“The old licence is continuing under court direction. It has not been stopped. We are following court direction,” he said, adding that part payment had been made and the balance would be decided through legal proceedings.
Ravi, however, pressed further, arguing that court orders did not prevent recovery of dues.
“The court has not said do not recover dues. What does your legal opinion say? Why have you not recovered?” he asked.
Shivakumar also raised concerns over declining non-tax revenue from mining, citing the state’s own budget observations.
“If Rs 800 crore to Rs 900 crore is allowed to let go like this, where will non-tax revenue come from?” he asked and sought to know why the government had not fully tapped the sector’s revenue potential.
The Minister reiterated that the due itself was under dispute, making immediate recovery difficult.
“How can we recover when the amount itself is not decided? Until recovery is possible, no further permission will be given,” he said, adding that consultations with the Law Department and Advocate General would be held to explore further action.
He also cited tender conditions, stating, “As per the tender notification dated October 5, 2020, a company must have paid all past dues to be considered a successful bidder.”
Unconvinced, Ravi demanded that the recovery of dues should follow.
