No arrest till the verdict is pronounced.
Karnataka High Court
The Karnataka High Court on Monday declined to stay the Serious Fraud Investigation Office (SFIO) probe into the financial dealings of the firm Exalogic Solutions, owned by Kerala Chief Minister Pinarayi Vijayan’s daughter Veena Vijayan.
The High Court reserved its order on the plea by Veena Vijayan’s firm Exalogic Solutions to quash the probe by the Serious Fraud Investigation Office (SFIO) against the company. The court has asked the investigating authorities not to make any arrests till it gives its verdict on the plea of the firm. The court also directed the SFIO not to take any tough action against Exalogic until the judgment is delivered.
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The court also directed Exalogic to produce all the documents required by the SFIO. Veena has also been directed to reply to the SFIO notice.
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As the SFIO began its probe, Exalogic Solutions on Thursday approached the Karnataka High Court seeking to stay its investigation against it.
The firm’s petition also sought that the inquiry order dated January 31 of the Ministry of Corporate Affairs be quashed.
A six-member team of SFIO is authorised to probe the matter with Deputy Director M Arun Prasad as the investigating officer.
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