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ED stirs Pinarayi's masala bond curry further

The New Indian Express Coimbatore

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December 02, 2025

THE Enforcement Directorate has served a show cause notice to Kerala Chief Minister Pinarayi Vjayan, former finance minister T M Thomas Isaac, and the CM's chief principal secretary K M Abraham over alleged infractions in the issue of masala bonds in 2019 by the Kerala Infrastructure Investment Fund Board (KIIFB).

- EXPRESS NEWS SERVICE

The Kerala CM is the chairperson of KIIFB, established by the state government to fund infrastructure projects. Isaac was the finance minister and vice-chairperson of KIIFB

when it raised ₹2,150 crore through masala bonds. Abraham is the CEO of KIIFB.

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