The foundation day celebrations of Fertilisers and Chemicals Travancore Limited (FACT) were held at the company’s Udyogmandal club here on Tuesday (September 22).

Madhu S. Nair, former chairman and managing director of Cochin Shipyard Limited, delivered the first C.P. Ramaswamy Iyer memorial lecture.

A portrait of Iyer, the Dewan of the erstwhile princely State of Travancore, was unveiled on the occasion. Eleven senior employees of the public sector company were honoured, according to the company management. S. Sakthimani, chairman and managing director, FACT, attended.

Meanwhile, the Communist Party of India (CPI) alleged that the management had tried to observe the foundation day in respect of C.P. Ramaswamy Iyer.

N. Arun, Ernakulam district secretary of the party, said in a communication that Iyer had only played a natural role as Dewan of the erstwhile Travancore in setting up the public sector unit. There is a deliberate attempt to glorify him by celebrating him on the occasion of the foundation day of the company, he said.

He alleged that the State government had maintained silence over the political agenda behind attempts to highlight Iyer’s contribution to the formation of the company.