Senior Congress leader Ramesh Chennithala on Monday alleged that the issue of masala bond by the Kerala Infrastructure Investment Fund Board (KIIFB) remains one of the biggest financial scams seen by the State.
He reiterated his allegation that the bond issue benefited a Canadian firm with links to SNC-Lavalin. Reacting to a show-cause notice issued by the Enforcement Directorate (ED) to Chief Minister Pinarayi Vijayan, Mr. Chennithala said the sole beneficiary of the decision to issue the bonds at a high interest rate of 9.72% was CDPQ, a company with close links to SNC-Lavalin.
Mr. Chennithala said he had raised the issue in the Assembly and outside it when he was the Leader of the Opposition. He termed the ED notice a drama meant to hide the CPI(M)-BJP nexus during the election season. “We don’t take the notice issued to Mr. Vijayan and T.M. Thomas Isaac seriously as the Centre usually engages in such measures to hide the CPI(M)-BJP undercurrents when elections are near. This is only a drama meant to hoodwink minority communities in Kerala into believing that there is no covert understanding with the BJP,” Mr. Chennithala said.
Published – December 01, 2025 09:17 pm IST
