This was the third time this session the Assembly was sparing time to discuss the KIIFB-CAG issue.
The Ethics Committee Report found fault with the Comptroller and Auditor General office for inserting eight paragraphs without consulting with the government.
Congress legislator V D Satheesan, who moved the adjournment motion in the Assembly on Wednesday, challenged the finance minister's claims inside the House.
It was a three-and-a-quarter page portion in the CAG report, a small section titled 'Off-budget borrowings' within the chapter 'Finances of the State Government', that has enraged the finance minister.
Congress MLA VD Satheesan, in his complaint, accused the finance minister of violating the rights of the House by leaking details of the process of audit before it was tabled in the Assembly.
The RBI has also clarified that its permission is not a testimonial about KIIFB's capacity and capability to avail loan.
However, it is not clear whether the RBI will take a prompt decision on KIIFB request in the wake of the controversy brewing over masala bonds.
The government aided by the eminent lawyer, intends to counter the incorporation of certain portions in the final report which were not there in the draft document and the CAG argument that KIIFB does not have the permission to avail loans.
The minister said he was open to detailed debate on the floor of the House if there were any procedural lapses.
The finance minister said a lack of understanding of the KIIFB model would have prompted the CAG to raise the issue that the KIIFB loans are a direct liability for the state.