Sun, 11 Apr 2021

Thiruvananthapuram (Kerala) [India], March 4 (ANI): Kerala Chief Minister Pinarayi Vijayan accused Enforcement Directorate (ED) of summoning Kerala Infrastructure Investment Fund Board (KIIFB) officials and said it is violating the Model Code of Conduct.

In a letter written to the Chief Election Commissioner, the Chief Minister said that the ED summoned KIIFB officials as per the political interests of Union Finance Minister Nirmala Sitharaman.

Hence, it is violating the Model Code of Conduct.

"The EC should take action against the investigating agency for violating the code of conduct," the Chief Minister said.

Nirmala Sitharaman's remark on February 28 during a BJP Yatra is evidence of the political use of investigative agencies, the letter read.

Recently, Sitharaman accused the Pinarayi Vijayan-led government of giving all the budget money to KIIFB.

While Kerala Finance Minister Thomas Isaac yesterday said that there was no violation of the Foreign Exchange Management Act (FEMA) in an alleged case of external borrowings of KIIFB through Masala Bonds.

"There is absolutely no violation of FEMA as we have received No Objection Certificate (NOC) from Reserve Bank of India (RBI)," said Thomas Isaac while speaking to ANI.

Enforcement Directorate (ED) has registered a case against KIIFB for external borrowings through Masala Bonds without the permission of the union government.

Yesterday, ED sent a notice to KM Abraham, CEO of KIIFB and asked him to appear before its Kochi office on March 5. It also sent a notice to Deputy Managing Director Vikramjit Singh and asked him to appear before it on March 4.

KIIFB was constituted by the state government as a corporate body. In November 2020, it had initiated an investigation into the Masala bonds of the KIIFB, as per the sources.

Recently, Union Finance Minister Nirmala Sitharaman accused the Pinarayi Vijayan-led government of giving all the budget money to KIIFB. (ANI)

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