New Delhi :ED’s case against KIIFB is a stark example of misuse of central agencies at hands of BJP government at the centre, said CPI(M) Politburo in its statement. ED began its unwarranted proceedings after Union Finance Minister Nirmala Sitaraman leveled baseless allegations against KIIFB and LDF govt, when she arrived for BJP election campaign in the state.
ED officials had summoned KIIFB CEO and its deputy Managing Director for questioning over alleged violation of Foreign Exchange Management Act(FEMA). The move amounts to serious attack on an agency formed by the state government. As a corporate , KIIFB possesses right to make commercial borrowings. KIIFB issued Masala Bonds overseas with due consent from the Reserve Bank of India.
ED’s unusual moves after declaration of state elections is part of a heinous plot to tarnish development projects of KIIFB and the government. It spells gross violation of federal principles. The case against ED should be withdrawn and harassment of senior officials should stop, demanded Politburo in its statement to ED and the Union Finance Minister.
