The balance sheet of Kerala Infrastructure Investment Fund Board (KIIFB) for the year 2019-20 saw red, with the organization recording a net loss of Rs 171.1crore. This is the first time KIIFB has registered a loss after a total revamp of the organization in 2016. Interestingly, the Comptroller and Auditor General (CAG) had found serious lapses in KIIFB’s model of availing foreign loans in the audit for the previous year, 2018-19. KIIFB’s audit figures add credence to the concerns expressed by CAG as it paid Rs 362.3 crore towards interest alone on masala bonds, KSFE bonds and other bank loans.from Thiruvananthapuram News, Latest Thiruvananthapuram News Headlines & Live Updates - Times of India https://ift.tt/3pKEtwp
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