Ulloor S. Parameswara Iyer was one of the modern triumvirate poets of Malayalam poetry. There are two major annual literary awards instituted in his memory, both known by the name Ulloor Award.
The older among the two awards was instituted by Mahakavi Ulloor Memorial Library and Research Institute and presented at Ulloor Memorial in Jagathy, Trivandrum, in Kerala coinciding with the birth anniversary of the poet."Ulloor Smarakam". keralaculture.org. Retrieved 28 February 2021. The award is given in two categories: Ulloor Literary Award is given to poetry collections published in the last three years as first edition in Malayalam–language and Ulloor Endowment Award is given for the best critical work on the poet.Aabha Anoop (1 March 2015). "Ulloor literary award". The Hindu. Retrieved 28 February 2021. The literary award carries 10,000 and a citation, and the endowment carries 5,000 and a citation."LITERARY HONOUR". The Hindu. Retrieved 28 February 2021.
The other award was instituted in 2017 by Ulloor Service Cooperative Bank.
Recipients of Ulloor Award instituted by Ulloor Memorial Library and Research Institute
Award for poetry Year Recipient Work Ref. 2003 M. P. Appan 2009 Ettumanoor Somadasan Jalasamadhi 2014 Neelamperoor Madhusoodanan Nair Avan Njan Thanne Aakunnu 2017 N. K. Desam Mudra 2018 Sudarsan Karthikaparambil Kumarasambhavam 2022 V. P. Joy (Joy Vazhayil) Kaanaamara
Endowment Award Year Recipient Work Ref. 2009 Sr. Ancy S. H. Ulloorum Prabhodhanathmakangalum 2014 K. F. Susheela Moolyasankalpam Ulloor Kavithayil 2018 Dr. S. Harikrishnan Ulloorinte Unmayum Ullolikalum 2022 Dr. C. Unnikrishnan Mahakavi Ulloor: Parswavatkarikkapetta Vyaktitvam
Recipients of award instituted by Ulloor Service Cooperative Bank Year Recipient Work Ref. 2017 Prabha Varma Aparigraham 2018 Ravivarma Thampuran Poojyam 2019 — — — 2020 E. P. Sreekumar Adhwanavetta 2021 Sunil P. Ilayidom Mahabharatham : Samskarika Charithram 2022 Azeem Thannimoodu Marathine Thirichu Vilikunna Vithu 2025 T P Venugopalan Thunnalkkaran
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