Karnataka HC declined stay on Exalogic Solutions' investigation

Karnataka HC declined stay on Exalogic Solutions' investigation

The Karnataka HC denied T Veena's request for a stay on an SFIO probe against her company, which was filed on Friday

The Karnataka High Court denied T Veena's request for a stay on an SFIO probe against her company, which was filed on Friday. Veena is the director of Exalogic and the daughter of Kerala Minister Pinarayi Vijayan.

Before issuing a decision on Exalogic's application for a stay of the Serious Fraud Inquiry Office's inquiry, the Karnataka High Court had previously instructed the investigating authorities to refrain from making any arrests in the matter (SFIO). Additionally, Exalogic was ordered by the court to provide all of the papers that the SFIO had requested. Veena has also been instructed to respond to the notice from the SFIO.

The transaction between the Kochi-based rutile mining company CMRL and Veena T, the daughter of Chief Minister Pinarayi Vijayan, is being investigated by the anti-fraud agency. The court halted all actions, including arrests, up until that point.

Following a news story alleging that CMRL had given the chief minister's daughter a total of Rs 1.72 crore between 2017 and 2020, outrage broke out in Kerala.

The news article stated that CMRL had a prior contract with Veena's IT company for consulting and software support services, and it referenced the interim board's settlement decision.

Additionally, it said that despite her firm providing no services, the money was paid each month "because of her connection to a well-known individual." The report further claimed that the Registrar of Companies (ROC) had made findings against her firm after this.

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