The newly formed administration under VD Satheesan has initiated a comprehensive investigation into alleged backdoor appointments, nepotism, and financial irregularities in the Kerala Infrastructure Investment Fund Board (KIIFB) during the tenure of former CEO K.M. Abraham. The government plans to completely restructure KIIFB and bring it under the direct control of the Finance Department, aiming to eliminate unauthorized appointments and curb extravagant spending.

According to reports, K.M. Abraham, a close confidant of former Chief Minister Pinarayi Vijayan, allegedly ran KIIFB, KIFCON, and K-DISC as parallel empires, appointing close relatives and associates of high-ranking officials to lucrative positions. Investigations revealed that family members of prominent officials were given high-salaried posts across these institutions, drawing both government pensions and hefty salaries simultaneously. Currently, out of nearly 400 contract employees in KIIFB, over 50 individuals receive monthly salaries exceeding one lakh rupees, whose qualifications and recruitment processes are now under strict scrutiny.

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Following the transition of power, K.M. Abraham resigned from his post, and Mini Antony has assumed temporary charge as CEO. The government has decided to phase out all temporary and contract staff, replacing them solely with qualified government and Finance Department personnel. Additionally, a complete audit of KIIFB’s past activities will be conducted, and a dedicated white paper will be prepared to assess the state’s financial liabilities.