August 16, 2022

Published from Mumbai, Delhi & Bhopal

Thomas Isaac unlikley to appear before ED: ‘Violations’ in KIIFB dealings

Thiruvananthapuram,  Two-time former Kerala Finance Minister Thomas Isaac is unlikely to appear before the Enforcement Directorate in connection with the alleged violations in Kerala Infrastructure Investment Fund Board (KIIFB).

Earlier, Isaac had ducked the notice served to him by the probe agency. This time the ED has asked him to appear at its Kochi office on August 11.

On Friday, Isaac had confirmed that he has got a notice by the ED, and said that he will talk to legal experts and then decide what needs to be done.

Sources close to Isaac said that after talking with the experts, he has decided to send a detailed letter to the ED and if need be, will take the matter before a court of law.

The ED has served him the notice to find out the functioning of the KIIFB, which had come under fire from the Comptroller and Auditor General of India.

KIIFB was established as the principal funding arm of the government of Kerala in 1999. Its objective is to channelise funds for critical and large public infrastructure projects in Kerala.

In Kerala, CAG has become a persona non grata ever since economist turned Isaac, early last year took on the Constitutional body head on, when he was holding office.

After slamming the CAG, the Pinarayi Vijayan government passed a resolution against the CAG report (which termed the off-budget borrowings through KIIFB as unconstitutional), with the Congress-led Opposition opposing it.

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