Exalogic moves Karnataka HC, seeks stay against SFIO probe

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T Veena. Photo: Manorama

Thiruvananthapuram: Exalogic Solutions, the IT firm owned by Kerala Chief Minister Pinarayi Vijayan's daughter Veena T, has moved the Karnataka High Court against the probe initiated by the Serious Fraud Investigation Office.
The writ petition (No: 4215/2024) filed at the High Court, the company has asked the court to stay the ongoing investigation. 

The Ministry of Corporate Affairs on January 31 handed over the probe to SFIO on the allegation that Veena received Rs 1.72 crore in payment from Cochin Minerals and Rutile Limited (CMRL) without providing any services.

Shone George, a lawyer and son of veteran politician P C George, had moved the Kerala High Court seeking an investigation into affairs of CMRL and Veena's company under the Companies Act and by SFIO.

Responding to the petition, George said the company has moved the court to avoid being implicated in the case, Manorama News reported. "Why do you fear of you have nothing to hide," George asked.
Meanwhile, senior CPM leader and former minister A K Balan said it was part of the legal pocedure.

In an exlcusing interview to Onmanorama, Congress MLA Mathew Kuzhalnadan said it would be difficult for Veena to get a clean chit in the CMRL payoff case involving her.  Kuzhalnadan, who has been relentlessly pursuing the allegations against the CM's daughter, said the investigation agencies will be get exposed if they try to save her.

On Monday, a team from SFIO visited the CMRL office in Aluva for the investigation.
On Wednesday, SFIO officials visited the office of the Kerala State Industrial Development Corporation (KSIDC) during a probe into Exalogic. KSIDC holds a 13.4% stake in CMRL and has a nominee in the private company's board.

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