Kerala High Court Extends Stay on CM's Show Cause Notice in Masala Bonds Case

The Kerala High Court has extended until April 6 its stay on any proceedings concerning the show cause notice issued to Chief Minister Pinarayi Vijayan by the Enforcement Directorate (ED) in connection with the KIIFB Masala Bonds issue.

Justice Bechu Kurian Thomas granted the same interim relief to former state finance minister Thomas Isaac and KIIFB CEO K M Abraham. The court will next hear the case on April 6.

This development stems from a plea by Vijayan, Isaac, and Abraham to quash the ED's notices for alleged contravention of FEMA provisions and the RBI directives concerning fund usage for infrastructure projects with funds raised by KIIFB's Masala Bonds.