Isaac told reporters that he had asked the ED to withdraw the summons issued to him last week.
The ED had issued a summons for the 71-year-old politician to depose at the agency office in Kochi on January 22, but he did not appear before it.
He was earlier asked to appear before it on January 12 but he had not turned up then also.
Isaac today said that he was willing to appear before the agency and give an explanation if the ED can point out what law has been violated.
“But, I am not going to appear before them so that they can question me and find out if any laws were violated. That amounts to self-incrimination and I will not do that,” he said. Moreover, the Kerala Infrastructure Investment Fund Board (KIIFB) has already submitted all accounts and records to the ED, he further said. Therefore, its chairman or vice chairman need not give any accounts or explanation, the former state minister added.
Isaac said that even the Kerala High Court had made it clear that there cannot be a “roving expedition”.
“So, this summons is pure harassment. To protect my dignity, I will go to court if required,” the former state minister said.
On being asked whether he was apprehensive he would be arrested if he appeared before the agency, Isaac said that it was a case under the FEMA and not of money laundering.
They cannot arrest for a case under the FEMA, he claimed, adding that the ED cannot even in their dreams contend that it was a case of money laundering.
Isaac said that it was a politically motivated move in view of the approaching Lok Sabha elections.
“As elections are nearing, they are scared and so they are making use of agencies like the ED,” he said.
He said this was happening across India and only the Congress in Kerala was failing to see that.
The KIIFB is the primary agency of the state government for financing large and critical infrastructure projects and had raised Rs 2,150 crore in 2019 through its debut masala bond issue as part of its plan to mobilise Rs 50,000 crore to fund large and critical infrastructure projects in the southern state.
The ED suspects contravention of the FEMA here and hence initiated a probe.
In December last year, the ED had informed the Kerala High Court that it had withdrawn the summons issued to Isaac as part of the agency’s probe into the alleged violations in the financial dealings of KIIFB during his tenure as the state finance minister.
The submissions were made during the hearing of a plea by Isaac and a KIIFB official alleging that only personal information was sought through the summons by the ED and seeking quashing of the same.
In view of the agency withdrawing the summons, the court had disposed of the petitions.
At the same time, it had also said that the ED was free to continue with its investigation in the matter.
