Abhishek Banerjee to lead party delegation to West Bengal CEO office on Jan 27

Kochi, Dec 17 (IANS) The Enforcement Directorate (ED) on Wednesday moved a division bench of the Kerala High Court challenging a single-bench order that stayed further proceedings against the Kerala Infrastructure Investment Fund Board (KIIFB) over the utilisation of funds raised through Masala Bonds, escalating a high-stakes legal battle with significant financial and political implications.

On Tuesday, the single bench of Justice V.G. Arun had granted an interim stay on the ED’s enforcement action after admitting KIIFB’s writ petition.

The court stayed, for three months, the show-cause notice issued to the state-owned infrastructure financing body and held that the issues raised warranted detailed examination.

Observing that a prima facie case had been made out, the court directed the ED to file its counter-affidavit.

The ED proceedings stem from a complaint filed on June 27, 2025, before the Adjudicating Authority under the Foreign Exchange Management Act (FEMA), 1999, alleging violations of Reserve Bank of India (RBI) guidelines governing External Commercial Borrowings (ECBs).

The agency has accused KIIFB of misusing proceeds from rupee-denominated bonds — popularly known as Masala Bonds — by deploying them for land acquisition, which it claims amounts to prohibited real estate activity under the RBI’s 2015–16 Master Direction on ECBs.

KIIFB has strongly contested the allegation, arguing that land acquisition for public infrastructure projects cannot be equated with speculative real estate activity.

KIIFB also pointed out that it had obtained prior RBI approval for the Masala Bond issuance in March 2019, filed regular ECB-2 returns certified by authorised dealer banks and chartered accountants, and faced no objections from the RBI.

The bonds were fully redeemed in March 2024.

Alleging mala fides, KIIFB claimed the ED action coincided with multiple election cycles and amounted to a “fishing and roving enquiry”, warning that continuation of proceedings could disrupt infrastructure financing for projects worth over Rs 90,000 crore.

The ED, however, has argued that KIIFB should have exhausted alternative remedies available under FEMA.

The appeal now sets the stage for a larger bench to examine the scope of regulatory oversight over state-backed infrastructure financing.

The division bench is likely to take up the plea on Thursday.

–IANS

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New Delhi, Nov 12 (IANS) The US-based Indian-American Muslim Council (IAMC) has come under the lens over alleged attempts to portray Indian Muslims in bad light and also for influencing the media reportage on their sub-human conditions with illicit funding.

This comes on back of a complaint filed by the Akhil Bhartiya Pasmanda Muslim Manch before the National Human Rights Commission (NHRC). Taking cognisance of the complaint, the human rights body has called for a swift enquiry into charges, followed by an Action Taken Report (ATR) within 10 days.

IAMC is one of the largest advocacy groups in America, which routinely raises issues concerning the Muslim population in India. In recent memory, it expressed grave concerns over the Election Commission of India’s Bihar voter verification drive and warned that it could impact voting rights of millions of Indians, particularly the vulnerable sections belonging to the minority community.

The complaint before NHRC was lodged by Javed Malik, the national convenor of Akhil Bhartiya Pasmanda Muslim Manch in which it claimed that the IAMC, through its HRRF Journalism Grant 2025, was promoting a distorted narrative of Indian Muslims as perpetually oppressed.

He claimed that these foreign funded grants, offered without FCRA registration or compliance disclosures, incentivise journalists to focus exclusively on communal tensions, misrepresenting the community and violating Indian laws.

He further alleged that such externally curated narratives damage the dignity and public image of Indian Muslims, foster communal distrust, and isolate marginalised groups within the community.

While flagging a series of violations by the US-based group, the Akhil Bhartiya Pasmanda Muslim Manch sought a detailed probe into potential FCRA violations by the foreign outfit and also corrective actions to safeguard communal harmony.

The NHRC, taking quick cognizance of the complaint, issued a notice to the Ministry of External Affairs (MEA) for a prompt probe into the matter. It has also sought an ATR over the complaint in 10 days.

Priyank Kanoongo, a member of the NHRC, weighing in on the shocking ‘disclosures’ against the IAMC said that such twisted narrative by the America-based group to spread false propaganda over Indian Muslims was a concerning matter and calls for swift investigation.

He also drew attention to the reportage by certain media outlets on the Red Fort blast in Delhi and how this was initially labelled as a CNG cylinder blast and it was after the investigative agencies clarified about the terror angle that the narrative disappeared.

“The question that arises is, whether there was any deliberate attempt to sell this narrative? Was there any foreign funding to create a false impression about the blasts? Was it part of the propaganda machinery, aided and abetted by the Indian American Muslim Council (IAMC) which has a history of funding certain media outlets for favouring the community and furthering its interests,” he asked.

–IANS

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Hyderabad, Jan 11 (IANS) Bharat Rashtra Samithi (BRS) working president K.T. Rama Rao on Sunday asserted that the Bharatiya Janata Party (BJP) will never emerge as a viable alternative to the Congress party in Telangana.

Addressing a preparatory meeting for the upcoming municipal elections with key leaders from Adilabad and Medak districts, he emphasised that the political battle in the state remains a direct contest between the BRS and the Congress.

During the strategy meeting, which was also attended by senior leader and Deputy Floor Leader T. Harish Rao, KTR provided direction to district presidents and public representatives on the roadmap for the municipal elections.

He urged the party cadre to expose the Congress party’s “betrayal of promises” and administrative failures at the ground level.

Senior leaders briefed KTR that the BJP’s graph has plummeted significantly since the Parliament elections, confirming that the upcoming municipal battle will be a head-to-head fight between the BRS and Congress.

KTR claimed that the people of Telangana are currently weighing the 24 months of Congress’s administrative failure against the decade of unprecedented development witnessed under the BRS regime.

He noted that voters have already begun signalling their preference for BRS, as seen in various elections ranging from the Jubilee Hills byelection to recent Panchayat polls.

Dismissing the BJP’s previous performance in the Parliament elections as a ‘fluke’ caused by a unique bipolar national atmosphere at the time, KTR remarked that the BJP lacks any real foundational strength or grassroots presence in Telangana.

The BRS working president pointed out the irony that while senior BJP leaders faced crushing defeats in the Assembly elections, the party’s temporary surge in the Lok Sabha polls has already faded. He accused the BJP of remaining silent while the Congress government compromises Telangana’s interests, particularly regarding Krishna River water rights and other interstate issues.

KTR declared that the people are closely observing the anti-Telangana agendas of both national parties and are ready to teach them a fitting lesson in the upcoming polls.

He mounted a sharp attack on the Congress party, describing its 24-month tenure as a period of administrative failure and deception. He stated that Congress has consistently betrayed all sections of society by failing to deliver on its promises and engaging in the misuse of power, as seen in the recent Panchayat elections.

Furthermore, the BRS working president accused the Congress government of working against the state’s interests in interstate matters, specifically regarding the sharing of Krishna River waters.

KTR claimed that the BRS has been the only party relentlessly fighting on behalf of the people against the “anarchy, corruption, and irregularities” of the Congress rule. He expressed confidence that the upcoming municipal elections would expose the false claims and mismanagement of the current government, as voters are eager to transition back to the visionary leadership of the BRS.

–IANS

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