CMRL-Exalogic case: Kerala High Court points discover to Veena, 12 others

The Kerala High Court has issued discover to Veena T., the daughter of Chief Minister Pinarayi Vijayan, her IT agency Exalogic Solutions Pvt. Ltd., and 11 others who had been arraigned as respondents within the case pertaining to the allegations relating to the monetary transactions between Cochin Minerals and Rutile Ltd. (CMRL) and Exalogic.

The discover was issued on a petition filed by BJP chief Shone George, in search of a Central Bureau of Investigation (CBI) probe into the allegations. The 11 different respondents embrace Sasidharan Kartha, the MD of CMRL.

In the petition, Mr. George mentioned that the contents of the Serious Fraud Investigation Office (SFIO) probe report on the alleged monetary transactions between the 2 corporations had referred to company fraud. But the SFIO had restricted the scope of its probe to offences beneath the Companies Act and didn’t examine the motive behind the alleged unlawful funds. He thus sought additional probe in coordination with the CBI, the Enforcement Directorate (ED) and the Election Commission, because the findings concerned offences beneath the Prevention of Money Laundering Act, the Prevention of Corruption Act, and the Representation of People’s Act.

Veena’s stance

Ms. Veena had in an affidavit earlier than the High Court in June refuted the allegation that her firm is a ‘benami’ agency, and mentioned it’s operated independently of her father. In response to a PIL filed in search of a CBI probe into the allegations pertaining to the monetary transactions between the 2 corporations, she had mentioned that the Union Ministry of Corporate Affairs had ordered a probe by the SFIO into sure affairs of the CMRL, together with its transactions with Exalogic, beneath the Companies Act. As the SFIO was presently seized of the matter, all different companies are precluded from probing it, she had contended then.