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Wednesday, Jun 4, 2025
Based on the I-T Department's findings, both CMRL and Exalogic reportedly made moves to defend themselves from an ED probe initiated in 2021.
Twelve establishments have received notices in Kerala alone.
Justice Devan Ramachandran said if CMRL has engaged in dubious transactions, the KSIDC should try to find out the truth and welcome the investigation and not hide anything.
Opposition Leader alleges tacit understanding between CPM and BJP.
The High Court of Karnataka had last week dismissed a petition filed by Exalogic against a SFIO probe into its affairs.
In his 46-page judgment, Justice M Nagaprasanna also stated the importance of such investigations in addressing financial crimes that pose risks to the economy.
The Karnataka HC had earlier asked the investigating authorities not to make any arrests in the case till it gives the verdict on the plea by Exalogic
The contract with KMRL, the subsidiary of the Kochi-based CMRL, for sand mining was cancelled only in December 2023, close to five years after the Centre's order.
Kuzhalnadan presented a timeline of events, trying to prove Vijayan showed undue interest to help CMRL retain four land leases for mining mineral beach sand.
Verdict on company's petition seeking stay on probe later.
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