‘Political motive, ballot code violation’: KIIFB locks horns with ED; deputy MD refuses to point out up for interrogation

By Express News Service
KOCHI: The Kerala Infrastructure Investment Fund Board (KIIFB) appears to be locking horns with the Enforcement Directorate (ED) with its Deputy Managing Director not turning up for interrogation on Thursday.

The ED had served a discover to Vikramjit Singh to seem for interrogation as a part of a probe into violation of the Foreign Exchange Management Act (FEMA) by KIIFB by elevating the Masala bonds.

Even although Singh, an IPS officer, was requested to achieve the ED workplace at 10 am on Thursday, KIIFB wrote a letter to the nationwide company that its officers won’t be showing for any questioning. “We received an email from KIIFB stating that all details related to the investments and money transactions have been handed over when sought for the preliminary probe. The letter was from KIIFB CEO, KM Abraham. They have decided to proceed legally against the notice claiming it as a political move,” ED official stated.

However, ED stated there was no political motive behind the probe. The company has additionally requested KM Abraham to come back to the ED workplace for interrogation on Friday. A recent discover can be issued if he would not flip up on Friday. “The case was registered based on the finding of Comptroller and Auditor General of India (CAG) about KIIFB. If everything is transparent and legal, why are KIIFB officials not cooperating with the probe? We will wait a few days to see whether other persons who were given notice appear for interrogation. Later, fresh notices will be served,” an ED official stated.

‘Political Motive’

Both Chief Minister Pinarayi Vijayan and Finance Minister Thomas Isaac have come out towards ED for registering the case towards KIIFB which was shaped to seek out funds together with investments for the infrastructure improvement in Kerala. 

The Chief Minister wrote to the Election Commission of India claiming that the ED probe is a violation of the mannequin code of conduct. 

Isaac alleged that ED is appearing upon the route of Union Finance Minister Nirmala Sitharaman who had alleged at an election marketing campaign that the Kerala authorities had allotted a serious portion of the funds to the KIIFB.