'Chief Minister went to London Stock Exchange only to ring bell, serious corruption had taken place in KIIFB masala bond'

THIRUVANANTHAPURAM: Opposition leader VD Satheesan has alleged that there was serious corruption in the KIIFB masala bond deal. He added that the Enforcement Directorate’s notice was sent only to create fear as the elections are approaching. Satheesan said the masala bond deal caused a major financial loss to the state.

“Earlier too, notices were sent to Chief Minister Pinarayi Vijayan’s residence. What happened after that? Borrowing money through the masala bond was wrong. The state could have received funds at an interest rate of just 1.5%, yet money was borrowed at a higher rate. What former minister Thomas Isaac is saying is wrong. The Chief Minister went to the London Stock Exchange only to ring the bell. Anyone who invests money can ring the bell there. It was just a PR stunt," Satheesan said.

"Fortunately, now no one is asking ‘What exactly is KIIFB?’. If they try to avoid responsibility, it will become a joke. Don’t make Malayalis laugh like this. A similar incident happened in Karuvannur as well. The ED notice has been sent just days before the election only to frighten the CPM and the Chief Minister. The ED will not do anything more than this. This notice is just an attempt to help the BJP in Kerala,” Satheesan added.