Confirming receiving a discover from the Enforcement Directorate (ED) asking him to seem earlier than them on August 11 in Kochi, two-time former State Finance Minister and high CPI-M chief TM Thomas Isaac on Thursday mentioned this was a transparent case of harassment and can search authorized opinion to determine whether or not to seem or not.
The cause for the ED to serve the discover is to search out out from him the functioning of the Kerala Infrastructure Investment Fund Board (KIIFB), which had come below fireplace from the Comptroller and Auditor General of India.
KIIFB was established because the principal funding arm of the federal government of Kerala in 1999. Its goal is to channelise funds for important and enormous public infrastructure initiatives in Kerala.
In Kerala, CAG has turn out to be a persona non grata ever since economist turned Isaac, early final yr took on the Constitutional physique head-on, when he was holding workplace. After slamming the CAG, the Pinarayi Vijayan authorities handed a decision towards the CAG report (which termed the off-budget borrowings via KIIFB as unconstitutional), with the Congress-led Opposition opposing it.
“This is the second notice that I have got from the ED asking me to appear. While the first one came last month asking me to appear with all the books of accounts, this time, perhaps they would have realised their folly and have not asked that,” mentioned Isaac to the media and added that he has been known as below the Foreign Exchange Management Act (FEMA).
“However, this time they have asked me to appear with my details of accounts and assets of the past 10 years and it includes the companies, where I was director. The Reserve Bank of India is the regulatory body for FEMA and has never said that there was anything wrong. What’s happening now is a clear case of harassment, and with regards to my assets, it’s easy to prepare as I have nothing,” added Isaac.