The Enforcement Directorate (ED) has issued fresh summons to former Finance Minister T.M. Thomas Isaac asking him to appear before the investigators at its Kochi office on April 2 in connection with the investigation into the issue of masala bonds by Kerala Infrastructure Investment Fund Board (KIIFB).
Dr. Isaac had not turned up despite earlier summons by the agency asking him to appear for interrogation. The ED suspects that funds were raised and utilised in violation of the Foreign Exchange Management Act. The former Finance Minister had opposed the agency move by terming the issue of summons as illegal and arbitrary.
The central agency had informed the Kerala High Court on March 26 that its probe was getting delayed owing to the non-cooperation of Dr. Isaac. In its affidavit, the ED had alleged that he was giving scant regard to the law of the land and had gone on to challenge the ED proceedings by keeping away from the investigation.
He neither appeared before the ED nor produced any records showing that his hands are clean. His conduct is unbecoming of a law-abiding citizen and the ED would be forced to resort to measures under the PMLA to enforce the summon, it said.
