Kochi: The Enforcement Directorate informed the High Court here on Tuesday that former finance minister Thomas Isaac's involvement in KIIFB masala bond case is suspected. In its affidavit before the court, the central agency argued that as Issac took a crucial decision regarding the masala bond case, his statement should be recorded.

The Foreign Exchange Management Act case is linked to a probe into the alleged violations in the financial dealings of KIIFB during his tenure as the finance minister in the previous LDF government.

“ Minutes of KIFFB's executive committee and general body meetings confirmed that Thomas Issac took a crucial decision over the masala bond. Hence, it is essential to record his statement to ascertain the legal validity of the deal. So far, the court hasn't stayed the proceedings related to the probe. Because, of this, a fresh summon was issued to Thomas Isaac in the case,” ED told the High Court.

In its fresh summons, the central agency asked the CPM leader to appear before it on March 12 as he had skipped several summons earlier. The ED submitted the affidavit before the High Court after KIIFB approached the court questioning the fresh summons.