Masala bonds of KIIFB: ED resends notice to Thomas Isaac for questioning

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Thomas Isaac| Photo: Screengrab|Mathrubhumi News

Kochi: The enforcement directorate has again sent a notice to former finance minister Dr TM Thomas Isaac.

Isaac has been asked to appear before the ED on August 11 morning for questioning in the case on foreign loans of Kerala Infrastructure Investment Fund Board, at the Kochi office.

This is the second time that the CPM leader was served with the notice for questioning. He was earlier asked to arrive at the Kochi office on July 19. However, the notice did not reach Isaac on time. He also alleged that the notice was first leaked to the media before it was given to him. He told the ED that he has scheduled programmes on the date and he cannot come to Kochi. Following this, ED decided to reschedule the questioning.

Reacting to the second notice, Isaac said he will appear before the ED on the said date. "I received the mail on Wednesday at 3.30 pm," he said. "The party (CPM) has decided to face the probe politically and legally," Isaac added.

The CPM "strongly condemned the intensifying efforts for the strong misuse of central agencies to destabilise the Kerala LDF government" in the previous central committee meeting.

"The CC decided to conduct a nation-wide campaign in defence of the Kerala LDF government and its alternative pro-people policies, and to condemn Central interventions and discrimination aimed at destabilising the LDF government," it said in a statement.

The ED is probing the masala bonds issued by the KIIFB during the previous government's period. ED alleges that the Board cannot borrow money from abroad. The government contends that the bond has prior approval of the RBI.

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