Vijayan gets a jolt as Kerala HC refuses to stay ED probe against KIIFB

Vijayan


Kochi, Aug 16 : Chief Minister Pinarayi Vijayan got a jolt on Tuesday when a bench of the High Court refused to stay the ongoing Enforcement Directorate probe in the alleged violations in Kerala Infrastructure Investment Fund Board (KIIFB). The ED has been pursuing the issue of 'masala bonds' by KIIFB. The board also came under fire from the Comptroller and Auditor General of India. KIIFB was established as the principal funding arm of the government of Kerala in 1999. Its objective is to channelise funds for critical and large public infrastructure projects in Kerala. Incidentally, Vijayan is the chairperson of KIIFB. Following the probing by the ED, KIIFB had approached the court with a request to stop the ongoing probe by the ED, and on Tuesday after hearing both the sides, the court not only refused a stay but allowed the ED to go ahead with its probe and posted the case for September 2. The ED officials said that they will be filing a detailed affidavit on what has been happening as they suspect FEMA violation by KIIFB, when it floated the 'masala bond'. The ED has been putting pressure on former two-time State Finance Minister Thomas Isaac, who also took to the legal route after being served two notices to appear before them. Ever since ED has been trying to summon Issac, Vijayan has been speaking tough against the Centre for creating a wedge in the federal principles. /IANS




Related

Raj Thackeray's MNS toying with idea of going solo in Maha civic polls
Mumbai, Sep 14 : The Raj Thackeray-led Maharashtra Navnirman Sena (MNS) is planning to go alone in the upcoming civic elections in Mumbai and other ma

IANS-CVoter National Mood Tracker: Majority Indians think celebrating 2023 as Int'l Year of Millets will increase awareness about nutritious cereals
New Delhi, Sep 14 : The Food and Agriculture Organisation (FAO) Council has approved a proposal by India to celebrate 2023 as an International Year of

Next stop Mathura: Maurya indicates with tweet
Lucknow, Sep 14 : Buoyed by the Varanasi court's decision in favour of Hindu petitioners in the Gyanvapi case, the Yogi Adityanath government in Uttar