Former Kerala Finance Minister Thomas Isaac has agreed to appear before the Enforcement Directorate (ED) if the summons specifies the allegations against him in the masala bonds case. The Kerala High Court supports the request for court supervision and has scheduled the appearance of KIIFB officials before the ED. This case holds significant implications for financial regulations in India.
The Kerala High Court urged former Finance Minister Thomas Isaac and the Kerala Infrastructure Investment Fund Board to consider cooperating with summons from the Enforcement Directorate in the Masala Bonds case. Emphasizing a preliminary inquiry and judicial oversight, the court’s proposal aims for a fair process. Legal and financial implications make this a crucial case for Kerala’s development agenda.