ourtKochi: The Kerala High Court has criticised KIIFB for not adhering to the ED summons. The court has asked the investment fund board to respond to the summons issued to it by the central investigation agency. The HC condemned the practice of KIIFB of approaching the court without responding to the queries sought by the Enforcement Directorate.
Meanwhile, the KIIFB members accused the ED of torturing them by asking them to resubmit the documents which they had submitted earlier. However, the High Court did not wholly agree with this argument of the board.
Commenting on the proceedings, Justice Devan Ramachandran opined that “it is the responsibility of KIIFB to submit the documents which ED demands from them.” He noted that “the HC has already taken apt decisions on earlier petitions filed by the investment board and also reminded the board officials that an investigation by no means can be evaded.”
The Justice also reminded that “no violations of FEMA regulations have been identified in the case so far.” The case pertaining to the Masala bonds will be considered again on February 1.
KIIFB entitled to respond to ED’s queries: Kerala HC added by Webdesk on
View all posts by Webdesk →