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

I believe that it will not come under ED purview, he said.Regarding the summons issued to Isaac, Satheesan said no one has been made an accused yet and the CPIM 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.

Leader of Opposition (LoP) in the state Assembly V D Satheesan on Thursday said that according to him the Enforcement Directorate (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, Satheesan said the ED is supposed to investigate money laundering and in the instant matter there are no such allegations.

''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 purview,'' he said.

Regarding the summons issued to Isaac, Satheesan said no one has been made an accused yet and the 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.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)