In a significant development, the report by the Registrar of Companies (ROC) on the financial dealings between Kerala Chief Minister’s daughter Veena Vijayan’s  firm Exalogic Solutions and Cochin Minerals and Rutile Limited (CMRL)also mentions  the name of  Kerala chief minister.

The ROC report claims that Pinarayi Vijayan directly exercises control over Kerala State Industrial Development Corporation (KSIDC) and indirectly over CMRL.

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The findings emerged not solely because the director of the Exalogic Solutions Private Limited is the daughter of the chief minister of Kerala who directly exercises control over KSIDC and indirectly over CMRL,” the report says.

The report also mentions that “… the key managerial personnel are appointed with significant influence on the board of CMRL on behalf of Kerala.

The State Industrial Development Corporation, whose board, in turn, is bound to act as per the directions of incumbent CM which in the present instance happens to be Shri Pinarayi Vijayan.

The report submitted by the Registrar of Companies (ROC) to the Ministry of Corporate Affairs (MCA) raises questions about the financial dealing between Veena Vijayan’s firm Exalogic Solutions  and the Kochi-based Cochin Minerals and Rutile Limited (CMRL).

It has been reported that Registrar of Companies wants Kerala CM’s daughter Veena Vijayan prosecuted for irregularities in Exalogic. According to the report, Veena Vijayan has blatantly fabricated the documents that were filed to the ROC to freeze the company. Exalogic lacked sufficient qualifications to apply to freeze the company.

Veena Vijayan’s company broke a few significant rules. Companies that have not conducted transactions for two years are the only ones eligible to request a freeze. The company submitted its application to freeze its operations in 2022. ROC’s examination, however, discovered that Exalogic possessed a record of the May 2021 transaction,

The report says that Exalogic and Veena Vijayan will be subjected to penalties under Sections 447, 448, and 449 of the Indian Penal Code, which include prison and fines, for forging documents and falsifying information.