Thiruvananthapuram: Kerala Finance Minister TM Thomas Isaac on Sunday lashed out at the Enforcement Directorate for its reported investigation against the state-run KIIFB over borrowing from international markets, saying such tactics would not scare them.
Isaac was reacting to reports in a section of media that the Enforcement Directorate has begun a probe against the Kerala Infrastructure Investment Fund Board (KIIFB) and sought information from the RBI regarding its NOC to the board to borrow funds from international markets. He alleged the Enforcement Directorate officials were leaking select information and directing the media houses on how to give headlines with regard to the KIIFB and asserted the central agency would not be allowed to undermine the authority of the state government. In a Facebook handle and also addressing reporters, the Minister said the ED had sent a message to the media houses that "The C and AG has found that the Kerala govt has raised Rs 2,150 crore from the international market without the consent of the Centre, using Kerala Infrastructure Investment Fund Board (KIIFB). Would not that amount to the possible violation of FEMA. ''KIIFB masala bond too has come under ED radar''," the message said, he added. The opposition Congress and BJP targeted Issac and asked why he was opposing the ED probe if the transactions through the KIIFB were transparent. Isaac said the ED officials may have seen "cowards who shiver" at the drop of the very name of the central agency but asked them not to expect the same in Kerala. "I have one thing to say to the ED who have surrounded KIIFB with their radar.
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