India, Oct. 10 -- The Kerala high court on Monday stayed further issuance of summons to Kerala Infrastructure Investment Fund Board (KIIFB) and former finance minister Thomas Isaac for two months in connection with the Enforcement Directorate (ED) probe into alleged violations of the Foreign Exchange Maintenance Act (FEMA) while applying for masala bonds in 2019. However, the court observed that ED can go ahead with its ongoing probe.

The court also made the Reserve Bank of India (RBI) a party in the case and directed ED to issue a notice to it also.

A single bench of justice V G Arun observed that though the ongoing investigation can go head there is no justification for petitioners being summoned repeatedly. "The investigation is not ...