Vijayan, against whose firm the Serious Fraud Investigation Office (SFIO) has initiated a probe along with Cochin Minerals and Rutile Ltd (CMRL) and Kerala State Industrial Development Corporation Industrial (CMRL).
Three important petitions related to the Exalogic Solutions are coming up for hearing in the Karnataka and Kerala High Courts on February 12.
The Karnataka High Court will hear the plea by Exalogic Solutions, the firm owned by Veena Vijayan, seeking to stay the SFIO probe against it, on Monday .
A single bench of Justice Naga Prasanna will hear the plea of the firm of CM Vijayan’s daughter on Monday. The Exalogic Solutions has on Thursday approached the Karnataka High Court seeking to stay the SFIO probe against it . The firm’s petition also seeks that the inquiry order dated January 31 of the Ministry of Corporate affairs be quashed.
The SFIO, which is probing the financial dealings of Exalogic Solutions, owned by Veena Vijayan, as well as Cochin Minerals and Rutile Ltd (CMRL) and KSIDC has issued summons to Veena Vijayan seeking various documents as part of the investigation.
In its notice, the SFIO has asked Veena Vijayan to produce documents related to financial transactions between her company, Exalogic Solutions, and Cochin Minerals and Rutile Limited (CMRL).
A copy of the summons was also submitted to the Karnataka High Court by Exalogic Solutions, in a plea seeking to stay the SFIO’s investigation against it
The Kerala High Court will again hear the petition by the state-run Kerala State Industrial Development Corporation( KSIDC) seeking to stay the SFIO’s probe against it. The court on Wednesday declined to stay the same.
Rejecting the KSIDC plea to stay the ongoing investigation proceedings in KSIDC by SFIO, Justice Devan Ramachandran has asked why KSIDC was afraid of the investigation.
The court also declined to interfere with the notices directing KSIDC to produce documents sought by the probe agency. The SFIO has sought some documents from KSIDC as part of its probe into the dealings between CMRL and Exalogic Solutions
The Kerala High Court will also again consider the petition filed by Shone George seeking an SFIO probe into the transactions between CMRL and Exalogic Solutions on Monday.
Kottayam district Panchayat member Shone George’s petition in the Kerala High Court seeking to order a probe by the SFIO on the illegal payments made to chief minister Vijayan’s daughter’s company and to others by the mining company Cochin Minerals and Rutile Limited(CMRL) , ultimately led to handing over of the investigation to the SFIO which probes corporate frauds of serious nature.
The Income Tax Interim Settlement Board (ITISB) had found that CMRL had disbursed Rs 135 crore to political leaders and others after 2016. The ITISB has also found that a total of Rs 1.72 crore was received by Veena Vijayan and her company Exalogic during 2017-20 from the mining company, the CMRL without providing any service to them
Exalogic Solutions has been in the eye of a storm after the Registrar of Companies (RoC) came out with a preliminary report pointing out major violations in its transactions with Kochi-based CMRL. The RoC had recommended investigations by the Enforcement Directorate and the CBI under the Prevention of Money Laundering Act and the Prevention of Corruption Act