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Plea filed by KIIFB challenging a notice issued against the board by the ED in connection with the usage of funds generated through masala bonds for infra development in the State. The ED had initiated proceedings under the Foreign Exchange Management Act. The Kerala High Court has issued a three-month interim stay on a notice issued by the Directorate of Enforcement (ED) to Kerala Infrastructure Investment Fund Board (KIIFB) on the utilisation of funds raised through masala bonds for the board ...Read More >
Kochi, Dec 16 (PTI) The Kerala High Court on Tuesday stayed for three months, any proceedings pursuant to the show cause notice issued to the KIIFB by the ED in connection with the Masala Bonds issue. The matter pertains to the use of the funds generated through Masala Bonds for acquisition of land for infrastructure projects. While issuing the interim order, Justice V G Arun observed that according to the RBI's External Commercial Borrowings (ECB) framework, which came into effect from Januar ...Read More >
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