ED issues notice to ex-Kerala FM Thomas Isaac for violations in KIIFB dealings

As per the sources, the notice was served to gather information on financial transactions regarding the Kerala Infrastructure Investment Fund Board

ANIUpdated: Monday, July 18, 2022, 12:29 PM IST
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Thomas Isaac | Facebook/ThomasIssac

The Enforcement Directorate (ED) has served notice to senior CPI(M) leader Thomas Isaac seeking his appearance before it in connection with an investigation into alleged violations in the financial dealings of the Kerala Infrastructure Investment Fund Board (KIIFB) when he was finance minister in the previous LDF government, official sources said on Monday.

"Enforcement Directorate has served a notice to the former Kerala Finance Minister Thomas Isaac to appear before it on Tuesday. The notice was served to gather information on financial transactions regarding the Kerala Infrastructure Investment Fund Board," sources said.

During the campaign for the state assembly elections last year, Union Finance Minister Nirmala Sitharaman had criticised the functioning of the KIIFB, alleging that the Comptroller and Auditor General (CAG) has criticised its financial dealings. She had also termed as "questionable" the operation of KIIFB.

KIIFB is the primary agency of the state government for financing large and critical infrastructure projects and in 2019 raised Rs 2,150 crore through its debut masala bond issue as part of its plan to mobilise Rs 50,000 crore to fund large and critical infrastructure projects in the southern state.

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