Key Highlights
- Vijayan said the government and the board would legally fight the ED move highlighting the fact that funds had been raised for infrastructure development through the masala bonds in accordance with the guidelines laid down by the Reserve Bank of India (RBI).
- The ED issued notices to the Chief Minister, former Finance Minister Thomas Isaac, and KIIFB CEO K. M.
- Abraham recently.
- The investigation agency has taken exception to the reported spending of ₹466.91 crore for land acquisition, which was reportedly barred by RBI rules and in violation of the Foreign Exchange Management Act.
- “With the elections round the corner, one should expect more such moves.
