Kerala High Court Reserves Order In KIIFB And Dr Thomas Isaac's Plea Challenging ED Summons In Masala Bonds Case

The Kerala High Court has reserved its orders on the plea by the Kerala Infrastructure Investment Fund Board (KIIFB) and Dr. Thomas Isaac, challenging the Enforcement Directorate's (ED) summons related to the masala bonds case. The ED is investigating the issuance of masala bonds by KIIFB, which involves raising funds through bonds denominated in Indian Rupees but issued outside India. The summons is part of the ED's probe into alleged irregularities in this financial transaction. The High Court will decide whether the summons issued is valid and if the petitioners need to comply with it.