Political Storm Brews Over KIIFB Masala Bond Controversy

Senior CPI(M) leader T M Thomas Isaac criticized the Enforcement Directorate's show cause notice regarding the KIIFB Masala Bond, describing it as politically driven. He accused the ED of aiding the BJP's election campaign as they question the legality and financial transactions of KIIFB in Kerala.

Senior CPI(M) leader T M Thomas Isaac launched a scathing critique of the Enforcement Directorate (ED) after receiving a show cause notice linked to the KIIFB Masala Bond. He labeled the notice a politically motivated move by the central agency.

Isaac alleged that the timing of the notice aligns with upcoming state elections, aiming to bolster the ruling BJP's campaign. The notice also implicates Kerala's Chief Minister Pinarayi Vijayan and his chief principal secretary, K M Abraham.

The case revolves around the issuance of masala bonds by KIIFB, which Isaac insists was approved by the Reserve Bank of India. Despite clarifications, the ED persistently questioned financial dealings, compelling Isaac to seek judicial intervention against what he terms a baseless probe by the central government agency.

(With inputs from agencies.)