The Enforcement Directorate (ED) has stated that former state finance minister TM Thomas Isaac just isn’t cooperating within the investigation of monetary transactions of the Kerala Infrastructure Investment Fund Board (KIIFB).
In an affidavit submitted by the ED earlier than the Kerala High Court on Saturday, the company stated that Isaac was making baseless allegations in opposition to the company.
It stated Isaac was making an attempt to avoid the investigation and stall the investigation.
The ED is probing the issuance of masala bonds by KIIFB, which later knowledgeable the court docket that permission to difficulty the monetary instrument was obtained from the Reserve Bank of India.
The investigating company had earlier issued a number of notices to Isaac to seem. Isaac had additionally approached the High Court in opposition to the ED.
It stated that Isaac was making an attempt to avoid the investigation, making baseless allegations in opposition to the ED and making an attempt to flee the jurisdiction of the central company and stall the investigation.
The company stated within the affidavit that the ED has powers to analyze violations of the Foreign Exchange Management Act (FEMA) in the course of the distribution of masala bonds.
It stated that the investigation is within the preliminary stage and therefore can’t say something in regards to the position of Isaac.
The ED stated, “The summons to supply the paperwork was a part of the investigation.
During the listening to of Isaac’s plea, the excessive court docket had requested why the ED can’t interrogate anybody if it has any doubts and in addition advised the probe company that the privateness of a person can’t be violated.
Left leaders and MLAs had additionally filed a joint petition within the High Court in opposition to the ED probe, alleging that it was a “fishing and roaming” train geared toward defaming KIIFB.
With inputs from TheIndianEXPRESS
