ED can't probe foreign transactions of KIIFB, notice to Isaac has no relevance: V D Satheesan, KIIFB

2022-08-13 09:08:42 By : Ms. Sophia Bian

Thiruvananthapuram: Leader of Opposition (LoP) in the Kerala Assembly V D Satheesan on Thursday said the ED cannot probe foreign financial transactions, like the masala bonds issued by Kerala Infrastructure Investment Fund Board (KIIFB), and therefore, the summons issued to senior CPI(M) leader Thomas Isaac in that connection had no relevance.

Speaking to reporters here, the senior Congress leader said that according to him, the Enforcement Directorate (ED) cannot probe such financial transactions and that it was supposed to investigate money laundering. In the instant matter there are no such allegations, he said.

"Here, the issue is that a loan was availed from abroad at a higher interest rate. I do not see how that comes under the purview of the ED. I believe that it will not come under ED's purview," he said.

Regarding the summons issued to Isaac, Satheesan said no one has been made an accused yet and the ruling CPI(M) leader was being asked to appear before the ED for questioning only.

"However, according to me, the ED does not have any power to probe issuance of masala bonds by KIIFB. Therefore, the notice issued to Thomas Isaac does not have any relevance," he added.

Isaac, finance minister in the previous Pinarayi Vijayan-led LDF government, had decided not to appear before the ED on Thursday in response to its summons issued to him on the KIIFB issue, even as he dubbed the probe agency as a "political tool" of the ruling BJP at the Centre. PTI

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