Chennithala alleges repeat of Pinarayi's relation with SNC-Lavalin in the KIIFB masala bond

The Opposition Leader had asked what was the need to give the masala bond for a higher rate of interest when they would have received loans for lower
Chennithala alleges repeat of Pinarayi's relation with SNC-Lavalin in the KIIFB masala bond

As the CAG report on KIIFB has brought in a lot of problems to the LDF government, the opposition parties have taken their stand against KIIFB and Thomas Isaac for breaking protocol. Opposition Leader Ramesh Chennithala claimed that Financial Minister Thomas Isaac had broken protocol by revealing the CAG report before presenting in front of the assembly. “Following protocol, how did the finance minister get the report? The report is given to the Finance Secretary, who then gives it to the Governor in a sealed packet,” he said.

Chennithala alleges repeat of Pinarayi's relation with SNC-Lavalin in the KIIFB masala bond
While Thomas Isaac claims CAG report false, Chennithala alleges that minister broke protocol

Thomas Isaac had said that he had earlier made a mistake by calling it as a draft report when it had been the final version. He also added that if he had breached protocol, he is willing to face the consequences. The opposition leaders have called the minister’s decision as unconstitutional. Moreover, they have called for Thomas Isaac’s resignation.

Chennithala alleges repeat of Pinarayi's relation with SNC-Lavalin in the KIIFB masala bond
Kerala Fin Min Thomas Isaac admits to breaking protocol by revealing CAG report

Another aspect of the KIIFB is the masala bond issues connected with it. Ramesh Chennithala had alleged that the masala bond had been made to help CM Pinarayi Vijayan’s “old buddies” SNS-Lavalin. “The government’s problem is that their dealings with Lavalin had been brought to light. They had collected money with masala bond for larger interest than normal is because they had been able to get the commission from SNS-Lavalin,” Chennithala said. He also added that the finance minister should answer who bought the masala bond.

Chennithala alleges repeat of Pinarayi's relation with SNC-Lavalin in the KIIFB masala bond
The masala story of the masala bond: Why exactly did Pinarayi Vijayan go to London Stock Exchange?

Chennithala alleges that the government, especially Chief Minister Pinarayi Vijayan, is behaving as if they had lost it. “The Chief Minister is feeling the stress of the various scams and investigations that are happening close to his office,” he added.

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