Kerala Political Storm: ED's Notice Sparks Controversy in KIIFB Case

The Enforcement Directorate's notice to Kerala's CM Pinarayi Vijayan and others in the KIIFB Masala Bond case has been criticized as a political maneuver by the ruling CPI(M). With elections nearing, the party accuses the central government of using the probe to discredit Kerala's development initiatives.

The ruling CPI(M) in Kerala has labeled the Enforcement Directorate's show cause notice to Chief Minister Pinarayi Vijayan and former finance minister T M Thomas Isaac as a 'political game'. The notice relates to the KIIFB Masala Bond case, which the party views as a direct challenge to the state's electorate.

Prominent party figures, including Isaac, state secretary M V Govindan, and minister V Sivankutty, have vehemently criticized the ED's actions, suggesting they are politically motivated. With local elections approaching, Govindan alleged that the central agency's actions were designed to support the ruling BJP.

The notice was issued under FEMA provisions, questioning the end-use compliance of funds from KIIFB's masala bonds. Isaac claims that no malpractice occurred, dismissing the inquiry as disruptive and accusing the central government of attempting to undermine Kerala's development progress.

(With inputs from agencies.)