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Sunday, November 27, 2022

Masala bonds: Former FM Thomas Issac running away from probe, says ED

The Enforcement Directorate, investigating the Masala bonds case involving former Kerala Finance Minister Thomas Isaac, on Saturday told the High Court that he is running away from the probe.

The ED had served two notices to Isaac to appear before them with regards to the masala bonds taken by the Kerala government when he was the Minister (2016-21).

Isaac, however, failed to appear before it and approached the court which asked the ED to go slow on it and file its affidavit.

In the affidavit, the ED said that he is duty bound to appear before them as this forms part of the probe and his response was “immature”.

It further stated that the probe is in its preliminary stage and it is to find out if there were any violation in the FEMA guidelines and the ED has every right to ask questions.

The ED said that Isaac is running away from the probe and requested the court not to consider his plea that he will not appear before them.

Isaac’s petition was that the ED had send two summons asking him to appear before it with numerous documents, including personal ones.

He had then contested the probe as one where the ED has now become a tool for the BJP to target political rivals.

The former minister pointed out that the apex court has clearly said ED is to tackle cases under Public Money Laundering Act and not under FEMA. It is the RBI which deals with FEMA.

Now, all eyes are on what position the court will take as the ED is insisting on Isaac appearing before it.

(The story has been published via a syndicated feed)

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