Kerala

Karnataka High Court’s Intervention Shields Veena Vijayan

Preventing Drastic Actions Amidst SFIO Investigation

Bengaluru: The Karnataka High Court has deferred judgment on Veena Vijayan’s petition to dismiss the investigation by the Serious Fraud Investigation Office (SFIO). The court’s directive on Exalogic’s cooperation marks a significant turn. The Company Affairs Department has also been instructed to avoid drastic action pending the verdict. It offers respite to Chief Minister Pinarayi Vijayan’s daughter. The impending verdict, scheduled within two weeks, awaits keen anticipation.

Key Points

Veena’s Plea and Court’s Directive

Veena Vijayan, director of Exalogic Solutions and daughter of Chief Minister Pinarayi Vijayan, sought interim relief from the Karnataka court. This relief was against SFIO’s probe into transactions concerning cement company CMRL. The court’s instruction to SFIO to exercise restraint until the judgment is pronounced signifies a cautious approach. Concurrently, Exalogic has been tasked with furnishing all pertinent documents to SFIO. Arguments before Justice M. Nagaprasanna’s bench were vigorous, with Exalogic vehemently contesting the validity of SFIO’s inquiry.

Legal Battle Ensues

Amidst ongoing investigations by the Registrar of Companies, Exalogic remains undeterred, asserting its innocence in dealings with CMRL. However, uncertainty shrouds the progress of the Registrar’s investigation. Exalogic’s legal counsel acknowledged this during proceedings. On the other hand, SFIO presents a formidable rebuttal, alleging illicit financial transactions involving substantial sums. At the same time, Veena has been summoned by SFIO; the crux of the investigation centers on Exalogic’s purported receipt of funds from CMRL. This prompted Veena’s plea for intervention by the Karnataka High Court.

Impending Decision

Veena’s petition, lodged alongside a demand to annul the January 31 inquiry order, underscores her determination to challenge SFIO’s mandate. The court’s impending decision holds immense significance and is poised to shape the trajectory of the ongoing investigation. As the legal battle ensues, all eyes remain fixed on the Karnataka High Court for its definitive ruling.

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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