Archive · 1 Dec 2025
ED Issues Rs 466 Crore FEMA Notice to Kerala CM
The Enforcement Directorate in India has sent a big notice to Kerala's Chief Minister Pinarayi Vijayan and two other officials.
This notice is about a rule called FEMA and is worth Rs 466 crore.
It's about some money that was raised by a group called KIIFB through something called masala bonds.
The notice is asking why they did something that might be against the rules.
The money was supposed to be used for big projects in Kerala.
The notice was sent a few days ago and doesn't need the officials to appear in person.
The Enforcement Directorate issued a Rs 466-crore FEMA show cause notice to Kerala CM Pinarayi Vijayan, former finance minister Thomas Issac, and K M Abraham.
The notice was issued about 10-12 days ago under the Foreign Exchange Management Act (FEMA).
The probe is related to the end-use of Rs 2,000 crore raised by KIIFB through masala bonds and its compliance with FEMA norms.
KIIFB raised Rs 2,150 crore in 2019 through its debut masala bond issue to fund infrastructure projects in Kerala.
The notice does not require a personal appearance from the individuals involved.
- Who
- Kerala Chief Minister Pinarayi Vijayan, former finance minister Thomas Issac, and the CM's chief principal secretary K M Abraham
- What
- Issuance of a Rs 466-crore FEMA show cause notice
- When
- About 10-12 days before Monday
- Where
- Kerala, India
- Why
- Related to the end-use of Rs 2,000 crore raised by KIIFB through masala bonds and its compliance with FEMA norms
- Notice Amount
- Rs 466 crore
- Notice Issued By
- Enforcement Directorate
- Notice Issued Under
- Foreign Exchange Management Act (FEMA)
- Amount Raised by KIIFB
- Rs 2,150 crore
- Year of Bond Issue
- 2019
- KIIFB's Funding Goal
- Rs 50,000 crore
Sources
ED issues notice to Kerala CM in Masala Bond case
ED Issues Show Cause Notice to Kerala CM in Masala Bond Case
ED issues Rs 466 cr show cause notice to Kerala CM in KIIFB masala bond case
'ED notice to CM Vijayan and others politically motivated': Ex-Kerala Finance Minister
ED issues FEMA notice to Kerala CM in Masala Bond case
Masala Bond case: ED notice ‘politically motivated’, alleges CPI(M)’s Thomas Isaac
ED issues show-cause notices to Kerala CM, KIIFB officials over alleged FEMA violations worth ₹466.91 crore
Kerala: ED issues show-cause notice to Chief Minister Pinarayi Vijayan in Rs 2,000 crore masala bond case
ED notices to Kerala CM Pinarayi Vijayan, former minister Thomas Isaac over masala bond probe