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The government had cleared 1,190 projects to be executed through KIIFB, with a combined outlay of ₹90,473.64 crore.
Abraham said the ED’s conclusion stems from a misunderstanding of the difference between land acquisition for public infrastructure and land purchase for investment.
Satheesan alleged that CPM would settle this case with BJP.
Former finance minister Thomas Isaac and KIIFB Chief Executive Officer KM Abraham have also received notices.
KIIFB had earlier decided to terminate the contractor due to repeated delays, but construction resumed after the contractor secured court permission to continue.
How the CAG will respond to a more independent KIIFB will be revealed only in future CAG reports.
Vadakara fish market restoration is stalled despite KIIFB funding, leading to ongoing pollution and infrastructural decay.
The Kerala Infrastructure Investment Fund Board (KIIFB), Konkan Railway Corporation, and the Public Works Department (PWD) had earlier signed a tripartite agreement to execute the ₹2,134 crore project.
A five-storey bus stand with a convention centre is coming up in Parassinikadavu, Kannur.
Abraham said that the CM would decide his future in the office.
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