Enforcement Directorate stated Thomas Issac was making an attempt to stall the investigation. (File photograph)

Kochi:

The Enforcement Directorate (ED) has stated that former state Finance Minister Thomas Isaac was not cooperating with the probe into the monetary transactions of the Kerala Infrastructure Funding Fund Board (KIIFB).

In an affidavit submitted by the ED earlier than the Kerala Excessive Courtroom on Saturday, the company stated Isaac was making baseless allegations towards the company.

It stated Mr Isaac was making an attempt to steer clear of the probe and stall the investigation.

The ED is probing the issuance of Masala Bonds by KIIFB which had later knowledgeable the courtroom that permission for the issuance of the monetary devices had been obtained from the Reserve Financial institution of India.

The probe company had earlier issued a number of notices summoning Isaac to look earlier than it. Isaac had additionally moved the Excessive Courtroom towards the ED.

It stated Mr Isaac was making an attempt to steer clear of the investigation, making baseless allegations towards the ED and was making an attempt to flee from the jurisdiction of the central company and stall the probe.

The ED has the authority to analyze the Overseas Trade Administration Act (FEMA) violation in the course of the distribution of Masala Bonds, the company stated within the affidavit.

It stated the investigation is within the main stage and therefore can not say something in regards to the function of Isaac.

“The summons to provide the paperwork had been a part of the investigation,” ED stated.

Throughout listening to of Isaac’s plea, the excessive courtroom had requested why ED can not query somebody if it has any doubts and on the identical time it instructed the probe company that privateness of a person can’t be violated.

Left leaders and MLAs had additionally moved the joint plea within the excessive courtroom towards the ED probe alleging that the identical was a “fishing and roving” train aimed toward discrediting the KIIFB.