The PIL primarily contended that the ED had been issuing repeated summons to several officials of the KIIFB in an effort to tarnish its goodwill which would in turn, affect the development of infrastructure in the State.
It stated that the KIIFB had approved a total number of 993 projects throughout the State of Kerala and the total value of the approved projects was ₹53,869.44 crores.
It had also raised a sum of ₹2,150 crores from ‘Masala bonds’ with the sanction of the Reserve Bank of India under the Foreign Exchange Maintenance Act (FEMA).
The plea included the following quote from the decision of the Supreme Court in Reliance Industry v Securities and Exchange Board of India.
The MLAs alleged that the ED has been constantly attempting to tarnish the goodwill of the KIIFB as well other statutory and executive establishments of the State of Kerala.
Pertinently, the plea took serious objection to the repeated summoning of many office bearers of the KIIFB including its CEO, KM Abraham, as well as the wide publicity given to the same.
The plea also sought orders to set up a mechanism to solve disputes between the Central and State Governments and their respective statutory agencies.
On the other hand, the ED maintained that it is the petitioners who are trying to protect the officers of the KIIFB, under the guise of a PIL.
Source: Barandbench
