Kerala: Chennithala says he stands vindicated on masala bond issue

Congress Working Committee leader Ramesh Chennithala said that whatever the ED had exposed was already revealed by him during his stint as the opposition leader.
Opposition leader Ramesh Chennithala
Opposition leader Ramesh Chennithala(File photo | EPS)

THIRUVANTHAPURAM: A day after the Enforcement Directorate came up against former finance minister T M Thomas Isaac on the Masala bond issue, Congress Working Committee leader Ramesh Chennithala said he stood vindicated.

Speaking to reporters at Indira Bhavan, Chennithala said that whatever the ED had exposed on Wednesday was already revealed by him during his stint as the opposition leader.

Chennithala said that Masala bonds were purchased by a Canadian company, CDPQ, which has connections with SNC Lavalin. He also added that CDPQ has a 20 per cent share in SNC Lavalin, which controls the controversial company.

He also cast serious aspersions against the CM claiming that everyone knows about the link between him and SNC Lavalin which is seeing the case inordinately pending before the Supreme Court.

“Why did Isaac deliberately push the state into financial doldrums despite the warnings of then finance secretary Manoj Joshi and then chief secretary Tom Jose? Why did Chief Minister Pinarayi Vijayan grant permission to go for Masala bonds despite being aware of the dangers lurking behind”? he asked.

He recalled that Kerala Infrastructure Investment Fund Board had procured Rs 2,150 crore from international markets at an exorbitant rate of 9.72 per cent interest. Later, KIIFB deposited it in new-generation banks in the state at low interest rates of 6.5 per cent, said Chennithala.

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