KOCHI: The Kerala Infrastructure Investment Fund Board (KIIFB) seems to be locking horns with the Enforcement Directorate (ED) with its Deputy Managing Director not turning up for interrogation on Thursday.
The ED had served a notice to Vikramjit Singh to appear for interrogation as part of a probe into violation of the Foreign Exchange Management Act (FEMA) by KIIFB by raising the Masala bonds.
Even though Singh, an IPS officer, was asked to reach the ED office at 10 am on Thursday, KIIFB wrote a letter to the national agency that its officials will not be appearing for any questioning. "We received an email from KIIFB stating that all details related to the investments and money transactions have been handed over when sought for the preliminary probe. The letter was from KIIFB CEO, KM Abraham. They have decided to proceed legally against the notice claiming it as a political move," ED official said.
However, ED said there was no political motive behind the probe. The agency has also asked KM Abraham to come to the ED office for interrogation on Friday. A fresh notice will be issued if he doesn't turn up on Friday. "The case was registered based on the finding of Comptroller and Auditor General of India (CAG) about KIIFB. If everything is transparent and legal, why are KIIFB officials not cooperating with the probe? We will wait a few days to see whether other persons who were given notice appear for interrogation. Later, fresh notices will be served," an ED official said.
'Political Motive'
Both Chief Minister Pinarayi Vijayan and Finance Minister Thomas Isaac have come out against ED for registering the case against KIIFB which was formed to find funds including investments for the infrastructure development in Kerala.
The Chief Minister wrote to the Election Commission of India claiming that the ED probe is a violation of the model code of conduct.
Isaac alleged that ED is acting upon the direction of Union Finance Minister Nirmala Sitharaman who had alleged at an election campaign that the Kerala government had allocated a major portion of the budget to the KIIFB.