Kerala HC dismisses petition against Masala Bonds

  • | Thursday | 20th June, 2019

By Express News ServiceKOCHI: Kerala High Court on Wednesday dismissed as withdrawn a petition challenging the constitutional validity of the issue of Masala Bonds to overseas investors by the Kerala Infrastructure Investment Fund Board (KIIFB). When the petition came up for hearing, the court pointed out that the investment was canvassed by the board and not the state government. Following this, the counsel for the petitioner sought permission to withdraw the petition. Masala Bonds were debt instrument denominated in Indian rupees but settled in foreign currency. The petitioner pointed out that as per Article 293(1), the state was allowed to borrow money only within the territory of the country.

Read Full Article Here

If You Like This Story, Support NYOOOZ



Your support to NYOOOZ will help us to continue create and publish news for and from smaller cities, which also need equal voice as much as citizens living in bigger cities have through mainstream media organizations.

Stay updated with all the Latest Kochi headlines here. For more exclusive & live news updates from all around India, stay connected with NYOOOZ.

Related Articles