spot_img

HinduPost is the voice of Hindus. Support us. Protect Dharma

Will you help us hit our goal?

spot_img
Hindu Post is the voice of Hindus. Support us. Protect Dharma
21.8 C
Sringeri
Thursday, March 28, 2024

Vijayan gets a jolt as Kerala HC refuses to stay ED probe against KIIFB

Chief Minister Pinarayi Vijayan got a jolt on Tuesday when a bench of the High Court refused to stay the ongoing Enforcement Directorate probe in the alleged violations in Kerala Infrastructure Investment Fund Board (KIIFB).

The ED has been pursuing the issue of ‘masala bonds’ by KIIFB. The board also came 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.

Incidentally, Vijayan is the chairperson of KIIFB.

Following the probing by the ED, KIIFB had approached the court with a request to stop the ongoing probe by the ED, and on Tuesday after hearing both the sides, the court not only refused a stay but allowed the ED to go ahead with its probe and posted the case for September 2.

The ED officials said that they will be filing a detailed affidavit on what has been happening as they suspect FEMA violation by KIIFB, when it floated the ‘masala bond’.

The ED has been putting pressure on former two-time State Finance Minister Thomas Isaac, who also took to the legal route after being served two notices to appear before them. Ever since ED has been trying to summon Issac, Vijayan has been speaking tough against the Centre for creating a wedge in the federal principles.

(The story has been published via a syndicated feed.)

Subscribe to our channels on Telegram &  YouTube. Follow us on Twitter and Facebook

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles

Sign up to receive HinduPost content in your inbox
Select list(s):

We don’t spam! Read our privacy policy for more info.

Thanks for Visiting Hindupost

Dear valued reader,
HinduPost.in has been your reliable source for news and perspectives vital to the Hindu community. We strive to amplify diverse voices and broaden understanding, but we can't do it alone. Keeping our platform free and high-quality requires resources. As a non-profit, we rely on reader contributions. Please consider donating to HinduPost.in. Any amount you give can make a real difference. It's simple - click on this button:
By supporting us, you invest in a platform dedicated to truth, understanding, and the voices of the Hindu community. Thank you for standing with us.