Finance dept. yet to answer queries by UDF MLAs in Assembly on KFC investment

Two separate questions by United Democratic Front (UDF) MLAs in the Kerala Assembly on the Kerala Financial Corporation (KFC) decision to invest money in the Anil Ambani-owned Reliance Commercial Finance Limited (RCFL) still await replies from Finance Minister K.N. Balagopal.

The unstarred questions (nos. 4398 and 4400) were raised on July 1, 2024, in the 11th session of the 15th Kerala Assembly. Leader of the Opposition V.D. Satheesan, levelling corruption charges on Thursday in the KFC’s investment decision, also had drawn attention to the absence of replies from the Finance Minister to the questions.

UDF MLAs had wanted to know the details of the money invested in the Anil Ambani-owned company, and how much of it was lost. They had also demanded to know the details of the amount that was recovered.