KOCHI: The Kerala High Court has directed the Enforcement Directorate to provide an explanation in the investigation against former minister Thomas Isaac in the Masala Bonds case. The High Court gave the direction on the petitions filed by Thomas Isaac and KIIFB.

In his petition, Thomas Isaac pointed out that the ED did not specify what the crime was. The masala bond was issued with the approval of the Reserve Bank. The petition also pointed out that the ED does not have the authority to investigate whether there has been a violation of the FEMA Act.