KOCHI: The Kerala High Court has stayed the further issuance of summons against ex-Finance Minister Thomas Issac, KIIFB CEO KM Abraham and Joint Fund Manager Annie Jula Thomas for two months. This was in connection with the ED probe into alleged FEMA violations in the issuance of Masala Bonds in 2019. Justice VG Arun's bench passed the interim order in the plea filed by Thomas Issac and KIIFB officials requesting to quash the summons by ED.

The order of the single bench said that although the investigation by ED cannot be interdicted, there is no justification petitioners being repeatedly summoned. The High Court made the Chief General Manager of the Foreign Exchange Department of the Reserve Bank as a voluntary party in the petitions. The petitions will be heard again on November 15.

In the petition of Thomas Isaac, it was alleged that the ED issued summons by asking for personal information of people including his relatives as part of investigation and also cited that the information of the summons was leaked to the media. KIIFB officials had also argued that ED's interventions would affect development activities in the state.