Prime Minister Thaksin Shinawatra’s political crisis reached another ominous juncture yesterday when the Constitution Court accepted a petition by a group of senators seeking to impeach him for conflict of interest over his alleged links with Shin Corp.

Paiboon Varahapaitoon, the court’s secretary-general, said the court would decide tomorrow whether to start reviewing Thaksin’s relationship with the telecommunications conglomerate Shin Corp, previously controlled by his family. This news was enough to send the stock index down 1.4 per cent.

The court’s decision followed a petition by 28 senators who charged that Thaksin had a conflict of interest due to his relationship with Shin, 49 per cent of which was owned by members of his family until they sold out last month.

The move put a spotlight back on the court, whose ruling in mid-2001 acquitted Thaksin of an assets-concealment charge and saved him a five-year ban from politics.

The 28 senators who lodged the impeachment bid said the premier violated the Constitution and was no longer qualified for office under Article 209.

The article stipulates that no one in public office may own more than 5 per cent of a company and that any holding above this limit must be transferred to a trust whose management is unrelated to the holder of public office.

There was evidence, the group claimed, that Thaksin continued to have a crucial say in managing his family’s shares after taking office.

A Constitution Court judge, who refused to be named, said the court’s response indicated that a review would surely be launched.

In that case, the court could make a ruling without starting the prosecution process – if it considered the submitted evidence was enough, the judge said.

However, the court would conduct a hearing if it needed more evidence or clarifications, the judge said.

In this case, the senators could appoint an attorney to represent them in the court. Thaksin had the right to defend himself in the court or produce documents in support of his position, the judge said.

Kaewsan Atibhodi, the leader of the 28 senators, said his group had prepared documents and other evidence in case the top court agrees to hear the case.

Thaksin downplayed the court’s reaction, telling reporters he had no worries and would only concentrate on his work.

He reportedly told his Cabinet members it was Valentine’s Day and he felt happy, despite the news.

“It’s a good day. I don’t want to be anxious. I rarely have a good day. Happy Valentine’s!” he said.

Suriyasai Katasila, secretary-general of the Popular Campaign for Democracy, said it was a good sign to see the court accept the petition.

“The people want the prime minister to appear in the court again to prove in his innocence [after his asset-concealment case in 2001],” he said. “If the PM believes he has done nothing wrong, he shouldn’t be scared of facing the court.”

The prime minister has faced growing pressure to resign, since the sell-off of his family’s controlling stake in Shin Corp to Temasek, the Singapore’s government investment agency. Critics have accused him of insider trading and structuring the deal to avoid paying hefty taxes, among other irregularities.

About 50,000 protesters rallied at the Royal Plaza on Saturday, accusing Thaksin of corruption and abuse of power. It was the second major anti-Thaksin demonstration. The first rally on February 4 involved about 100,000 demonstrators.

Meanwhile, Suriyasai, who is also a leading member of the People’s Alliance for Democracy, said he might need to ask for half of the space at Sanam Luang to hold an anti-government demonstration on February 26. This is despite confirmation that the public area had already been booked for other activities on that day.

Suriyasai said he needed to speak to the Bangkok Metropolitan Administration’s Environment Department to find out whether the Alliance made reservations before or after the Agriculture Minister booked the public grounds for its “90th Anniversary of Thai Cooperatives” event running from February 16 to 27.

“I expected to face something like this. Maybe I need to negotiate with the BMA or the ministry to share the space to hold the rally,” Suriyasai said.

He added that the Royal Plaza, which has been the site of two of the alliance’s demonstrations, would not be available because of university graduation ceremonies already scheduled to take place there.

In addition to the Agriculture Ministry event, there will be competitions involving many traditional Thai sports including kite fighting, and takraw at Sanam Luang from now until April 2.