Thiruvananthapuram: Enforcement Directorate(ED) has deteriorated to becoming a political tool of BJP, said Finance Minister Thomas Isaac. It has been clarified several times in the past that Masala Bonds have statutory sanctions from RBI. Given that, why did ED in its message to media state “KIIFB Also Under The Radar”, asked the minister. Neither ED nor media has disowned that dubious message - an indication of ED indulging in political game among other things, said Isaac.
KIIFB approached RBI for its masala bonds and procured NOC thereof. However, it was decided to postpone issuance of bonds to next year. Subsequently another request was placed, and RBI extended the validity of its consent.
Report on loan disbursements on basis of borrowings have been duly submitted to RBI. At least 7 to 8 of such reports have been dispatched to-date. At no point did RBI point out any kind of discrepancy.
But now, CAG has come up with suspicious out of the blue, said Isaac. Though, KIIFB has been audited right from 1999 and inspected by CAG 9 times, it has suddenly developed some kind of strange retrospect, the minister added.
