Opposition leader in the Kerala Assembly VD Satheesan on Friday said that Chief Minister Pinarayi Vijayan should respond to the allegations of corruption related to investment made by Kerala Financial Corporation (KFC) in the financially struggling Reliance Commercial Finance Limited (RCFL).
VD Satheesan, Leader of the Opposition in Kerala Assembly (Photo:SNS)
Opposition leader in the Kerala Assembly VD Satheesan on Friday said that Chief Minister Pinarayi Vijayan should respond to the allegations of corruption related to investment made by Kerala Financial Corporation (KFC) in the financially struggling Reliance Commercial Finance Limited (RCFL).
Speaking to media persons in Kochi, Satheesan said that the KFC had unlawfully and dubiously invested Rs 60. 8 crore in the Anil Ambani-promoted RCFL.
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He alleged that the KFC made investment in Anil Ambani’s financially struggling Reliance Commercial Finance Limited (RCFL), without the permission of the board of directors.
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Satheesan said this investment was made at a time when Anil Ambani’s companies were collapsing. When the parent company RCL collapsed, Anil Ambani formed a subsidiary company called RCFL, he said.
The opposition leader also asked who was responsible for making investments in this sinking company without even holding a board meeting of the KFC.
He criticized Thomas Isaac for not responding when the matter was raised in the assembly and for justifying it only now when he has made the allegation publicly.
“The former Finance Minister and the current Finance Minister say that the company in which the investment was made has a double A+. Both of them should be given a double A+,” he said .
He alleged that some party relatives are behind this corruption with the knowledge of the political leadership.
He said that even the annual report of KFC does not mention the name of the company in which the investment was made.
However, Former Finance Minister TM Thomas Isaac dismissed the allegations as baseless, stating, that the leader of the Opposition should provide evidence to support his allegations
PPresent state Finance Minister K N Balagopal also refuted the allegations, stating that the investment made in 2018 was carried out in accordance with the law.
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