Former Kerala FM Thomas Isaac summoned by ED over probe against KIIFB

Thomas Isaac (Image: ANI)

The Enforcement Directorate (ED) on July 17 issued a notice to former Kerala finance minister and CPI(M) leader Thomas Isaac seeking his appearance on Tuesday (July 19) in connection with alleged violations in financial dealings of KIIFB, PTI news agency reported.

However, the CPI(M) leader was quoted by the news agency as saying that no such notice was served to him.

'I have not received any such (ED) notice. Even if I get something like it, I am not going to appear because I have more important things to do. They will have to arrest me,' Kerala CPI(M) leader Thomas Isaac to PTI

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— Press Trust of India (@PTI_News) July 17, 2022

Moneycontrol could not independently verify the report.

Kerala Infrastructure Investment Fund Board (KIIFB) is the primary agency of the state government for financing large and critical infrastructure projects.

There were earlier reports that the ED has started a probe against the Kerala Infrastructure Investment Fund Board (KIIFB) and sought information from the Reserve Bank of India regarding its no-objection certificate to the board to borrow funds from international markets, PTI news agency reported.

KIIFB is the primary agency of the state government for financing large and critical infrastructure projects and in 2019 raised Rs 2,150 crore through its debut masala bond issue as part of its plan to mobilise Rs 50,000 crore to fund large and critical infrastructure projects in the southern state.