ED issues notice to Isaac for violation in KIIFB dealings

CPI(M) leader Thomas Isaac on Saturday said that he has been served a fresh notice by the Enforcement Directorate to appear before it on January 12 in connection with the alleged violation in financial dealings of Kerala Infrastructure Investment Fund Board (KIIFB) during his tenure as state finance minister in the previous LDF government, report online news sites quoting IANS.

On November 24, the Kerala High Court stayed the interim order of a single-judge which had allowed the ED to issue fresh summons to Isaac and KIIFB officials.

"Yes the notice has come, now I will speak to my lawyers, as it was after a long legal battle we got a stay. Then their notice was vague, now it's specific and relates to 'Masala Bonds', i.e, rupee-denominated bonds outside India when he was the Finance Minister during 2016-21," said Isaac.

"I am now in the midst of a big meeting and am busy till the 21st of this month. They have to look into my time also as I am a public person and I have my commitments. So will have to seek the opinions of my lawyers on how to go about this," added Isaac, clearly implying that he might not turn up before the ED on January 12.

Last month, the High Court gave a breather to Isaac and stayed the summons issued by the ED. The Division Bench of the High Court then said they were not going into the merit of the issue, after which the ED returned to the single-judge Bench again to force their points and the need for issuing summons to both the parties.