Ernakulam: The Directorate of Enforcement (ED) has once again issued a notice to former Finance Minister Thomas Isaac in the KIIFB Masala Bond case. He has been instructed to appear for questioning on March 12th. The ED has also requested the production of all documents related to the case during the interrogation. The ED initiated an investigation against KIIFB on the grounds that it violated FEMA (Foreign Exchange Management Act) norms in issuing Masala Bonds without obtaining RBI approval.
However, Thomas Isaac argues that the ED is hounding him, continuously sending summons for investigation and demanding documents. He has approached the High Court regarding this matter. In response, the ED informed the court that KIIFB is not providing the requested information and is not cooperating with the investigation.
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