Thiruvananthapuram, Sep 19 (IANS): The Communist Party of India-Marxist (CPI-M) Monday said the treasure found in the Sree Padmanabhaswamy temple here is the property of the state and a state-run board, similar to that of the Tirupati temple, should be set up to manage it.

"The treasure has been accumulated over years by the erstwhile rulers through offerings, besides being acquired by the rulers from other erstwhile kingdoms in the state. Hence, this is the asset of the state," said party state secretary Pinarayi Vijayan.

In July, a Supreme Court-appointed committee started the stock-taking process of the temple's vaults. Valuables worth over Rs.100,000 crore were found in the five vaults that have been opened. Vault B is still closed.

"We want a board similar to the ones in place in Tirupati and Guruvayoor temples. Like in Guruvayoor, where the local erstwhile king has a representative on the board, the erstwhile royal family of Travancore here can become a member of the board," said Vijayan.

Kerala Chief Minister Oommen Chandy has earlier said the treasure was Kerala's pride and part of the state's culture, and was the property of the temple.

Presently, the affairs of the temple are run by an executive committee which has members from the temple, besides representatives from the royal family of Travancore.

The Sree Krishna Temple at Guruvayoor in Kerala is run by a state-appointed director board with political personalities heading the board.