[Marxistindia] Condemn ED Action in Kerala

[news from the cpi(m)]

March 5, 2021
Press Statement
 
The Polit Bureau of the Communist Party of India (Marxist) has issued the
following statement:
 
Condemn ED Action in Kerala
 
The Enforcement Directorate's (ED) action of registering a case against the
Kerala Infrastructure Investment Fund Board (KIIFB) is a blatant misuse of
the agency as a political tool by the BJP government at the Centre.
 
The Finance Minister, Nirmala Sitharaman, while addressing a BJP election
meeting in Kerala made unfounded allegations against the KIIFB and the LDF
government.  Following this, the ED has taken this totally unwarranted
action.  
 
The ED had registered a case of violation of FEMA norms and summoned the CEO
and the Deputy Managing Director of KIIFB for questioning.  This is a
serious assault on a state government-sponsored entity.  As a corporate
entity, the KIIFB has the right to raise commercial borrowings.  It had
issued masala bonds abroad as per Reserve Bank of India's approval.  
 
The ED action coming after the announcement of elections is all the more
reprehensible as it is a blatant effort to try to discredit the LDF
government and the extensive developmental work undertaken under the
auspices of the KIIFB. It is a serious violation of the federal principle.
 
The Polit Bureau of the CPI(M) demands that the Finance Minister and the ED
immediately rescind the case against KIIFB and stop harassment of its senior
officers.  
 
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