KIIFB CEO is also director of a private firm violating rules
Thiruvananthapuram: The Chief Executive Officer (CEO) of Kerala Infrastructure Investment Fund Board (KIIFB) K. M. Abraham is also serving as the director of a private company, it is reported. K. M. Abraham joined as the Independent Director of Muthoot Capital this January. It is alleged he violated the service rules that those who are in government service should not work for private companies.
K. M. Abraham is receiving Rs 2.45 lakh as salary from the private company. In addition to this, he is receiving pension from the government after retiring as chief secretary. He was appointed as the CEO of KIIFB on contract basis in order to avoid coming under the rule of reinstating into service. This allows him to receive the full salary and pension without any deduction.
Apart from receiving about Rs 5 lakh from the government as pension and salary, he gets Rs 2.45 lakh from the private company. According to the service rules, a person who retires from government service can join a private company only after a certain time period. It is pointed out that K. M. Abraham has violated this rule.