The State Cabinet has decided to appoint K.M. Abraham as the next Chief Secretary. Kandathil Mathew Abraham, currently Additional Chief Secretary (Finance), will replace Nalini Netto, who retires on Thursday. Ms. Netto has been appointed Chief Minister Pinarayi Vijayan’s Principal Secretary.
Winner of last year’s Satyendra K. Dubey Memorial Award, instituted by IIT Kanpur for its alumnus who displays the highest level of professional integrity in upholding human values, the 1982 batch IAS officer Mr. Abraham is best know for the key role he played as a whole time member of the Securities and Exchange Board of India (SEBI) in exposing the irregularities in the functioning of the Sahara Group, resulting in the jailing of Subrato Sahara and refund of deposits made by investors in various schemes run by the Sahara Group.
Interestingly, Dr. Abraham was not given an extension at SEBI allegedly due to the immense political pressure.
Dr. Abraham is an M.Tech. in Industrial Management from IIT Kanpur. He also is a Licensed Financial Analyst (LIFA) professional from the US and holds a Ph.D from the University of Michigan, Ann Arbor. It is Dr. Abraham who came up with the concept of the Kerala Infrastructure Investment Fund Board (KIIFB), which has emerged as the primary driver of the State’s infrastructure development.
The KIIFB, with strong oversight provisions, is seen as a key instrument in the possession of the Left Democratic Front government to raise funds for development of transport, road, public education and health infrastructure. Dr. Abraham is the KIIFB fund manager.