Kerala

SFIO Lightning Raid: Arun Prasad’s Blitz on CMRL Unveils Startling Developments

Phone Ban, SFI Anticipation, and Pinaray Family's Shock: The Swift Impact of CMRL Office Storm

Kochi: In bold, the Serious Fraud Investigation Office (SFIO) has initiated an Exalogic Financial Probe into an IT company owned by Veena Vijayan, daughter of Chief Minister Pinarayi Vijayan. A meticulously planned raid unfolded at the CMRL headquarters in Aluva. SFIO Deputy Director M Arun Prasad is leading the charge in the current raid.

Key Points:

SFIO Unveils Exalogic Probe

Arun Prasad’s Decisive Role

  • Arun Prasad’s pivotal role in the Exalogic investigation is underscored by his prior involvement in the Aircelmaxis case, leading to accusations against former Finance Minister P. Chidambaram.
  • The current probe, led by Arun Prasad, carries significant weight, with potential political repercussions echoing the gravity of the earlier investigation.

Political Ripples and Financial Entanglements

  • The SFIO’s investigation, armed with a six-member team, aims to unravel the complex financial dealings between Exalogic and CMRL.
  • Allegations of exploiting political ties and a potential inquiry into transactions between Veena Vijayan’s Exalogic and the State Industrial Development Corporation add a political dimension to the financial entanglements.

Investigative Onslaught

The raid commenced at 9 am under secrecy. Arun Prasad’s team orchestrated it after stringent instructions barred CMRL officials from using communication devices. A detailed inspection is underway, thoroughly examining employee documents and statements. This marks the inception of a comprehensive investigation into the financial transactions between Exalogic and CMRL.

Arun Prasad’s Crucial Role

Arun Prasad, the linchpin of the Exalogic investigation, carries the weight of his prior involvement in the Aircelmaxis case, which ensnared former Finance Minister P. Chidambaram. The repercussions of that investigation resulted in cases registered by the Enforcement Directorate (ED) and Central Bureau of Investigation (CBI) against Chidambaram and his son. Arun Prasad’s every move is pivotal, echoing the gravity of the current Exalogic probe.

Political Ripples and Allegations

The SFIO, armed with a six-member team from the corporate ministry, aims to untangle the complex web of financial dealings. The investigation’s trajectory is expected to extend to the AKG Centre. It concerns the Communist Party of India (Marxist) (CPM). Incorporating the AKG Center’s address during Exalogic’s registration in Bengaluru allegedly exploits CPM connections in the IT industry.

Financial Entanglements

Foreseeing a potential political storm, the central government contemplates investigating transactions between Veena Vijayan’s Exalogic and CMRL under the State Industrial Development Corporation. Veena, the sole director at Exalogic, faces allegations of orchestrating financial manoeuvres exploiting political ties. The company’s financial shift from losses in 2014 to soaring profits in 2016, coinciding with Pinarayi Vijayan’s tenure as Chief Minister, fuels the allegations.

AKG Center’s Shadow

The controversy surrounding Exalogic deepens with its registration address linked to the AKG Center, raising suspicions of political corruption. The omission of an adjacent apartment address for CPM state secretariat members casts a shadow over the true nature of the company’s activities.

SFIO’s Expanded Scope

The SFIO inquiry stretches beyond Exalogic to encompass the Kerala State Industrial Development Corporation (KSIDC). This expansion amplifies the investigative horizon, promising a thorough examination of financial dealings and potential entanglements. Monthly purchases by Veena Vijayan are under SFIO’s magnifying glass, hinting at a more intricate investigation.

The culmination of Investigations

As SFIO unravels its financial tapestry, the Exalogic Financial Probe becomes a riveting tale of political connections, financial intricacies, and potential misconduct. The scope extends far beyond a routine financial probe, delving into the corridors of political power. As citizens eagerly await the investigation’s conclusion, the unfolding drama around Veena Vijayan’s Exalogic casts a long shadow on the political landscape of Kochi.

The initiation of the SFIO probe injects an air of anticipation and scepticism into the Exalogic saga. With political ramifications looming, the investigation promises to expose the intricacies of financial dealings and political ties. As the SFIO navigates this convoluted landscape, the fate of Veena Vijayan and Exalogic hangs in the balance.

Rohit Sharma

Rohit Sharma is a seasoned Political Journalist with a deep passion for Indian Politics. With over a decade of experience in the field, he has established himself as a trusted… More »

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