Lok Sabha Elections 2024: Kerala CPI-M leader Dr Thomas Isaac's biggest assets are books worth Rs 9.6 lakh

Dr Thomas Isaac, a prominent Communist leader and former finance minister of Kerala, showcased his modest lifestyle in his nomination affidavit, revealing minimal possessions apart from a vast collection of books.

Lok Sabha Elections 2024 affidavit check: Kerala CPI-M leader Dr Thomas Isaac's biggest assets are books worth Rs 9.6 lakh

Team Asianet Newsable

First Published Mar 31, 2024, 12:47 PM IST

Dr Thomas Isaac, Communist leader and Kerala's former finance minister is known for his simple lifestyle despite his occasional indulgence in designer kurtas and visits to his daughter in the United States. In an affidavit filed along with his nomination papers on Saturday, Isaac's financial details revealed his minimalistic possessions.

Dr Issac is the Communist Party of India (Marxist) candidate from the Pathanamthitta Lok Sabha constituency. Dr Isaac does not own any property or gold but boasts a vast collection of over 20,000 books, valued at Rs 9.6 lakh, housed in his brother's residence in Thiruvananthapuram, where he resides.

According to the affidavit, Dr Isaac's financial assets include deposits in various accounts such as Rs 6,000 in the treasury savings bank, Rs 68,000 in the pensioners' treasury account, Rs 39,000 in an SBI savings account, Rs 36,000 in a KSFE Sugama account, and Rs 1.31 lakh as fixed deposits in KSFE.

Additionally, he has invested Rs 77,000 in a chit fund with KSFE and holds Rs 10,000 in cash along with shares worth Rs 10,000 in Malayalam Communications.

Dr Isaac, a central committee member of the CPM, submitted his nomination papers before the Pathanamthitta district collector and returning officer, Prem Krishnan, accompanied by minister Veena George, MLAs Chittayam Gopakumar, Mathew T Thomas, and Pramod Narayanan. Arriving at the collectorate in an open jeep amidst the support of party workers, Isaac reaffirmed his commitment to public service.

Dr Isaac to move HC on Monday

Dr Isaac is preparing to approach the Kerala High Court on Monday following the Enforcement Directorate's issuance of a sixth summons related to the 'masala bonds' case. The CPI-M has consistently declined to cooperate with the agency, citing unclear allegations in the summonses. Dr Isaac had previously stated his willingness to appear only if the summonses clearly outlined the accusations against him.

The masala bonds case involves the raising of Rs 2,150 crore through masala bonds by the Kerala Infrastructure Investment Fund Board (KIIFB) in 2019, during Dr Isaac's tenure as the Finance Minister in the first Pinarayi Vijayan government (2016-21). In February, the ED asserted that Dr Isaac possessed a comprehensive knowledge of the masala bond case, necessitating his appearance. The agency assured the court that he would not be detained, and the entire interrogation would be recorded and presented in court.

A 'masala bond' refers to a rupee-denominated bond issued to foreign investors, settled in US dollars, and subject to the financial regulations of the respective jurisdiction. The World Bank-backed International Finance Corporation pioneered the issuance of masala bonds in November 2014, raising Rs 1,000 crore to finance long-term infrastructure projects in India.

Last Updated Mar 31, 2024, 12:47 PM IST