Thiruvananthapuram: In a recent turn of events, the Registrar of Companies (ROC) has implicated Chief Minister Pinarayi Vijayan in its report on the financial transactions between Veena Vijayan’s IT firm, Exalogic Solutions, and Cochin Minerals and Rutile Limited (CMRL). According to the ROC report, Pinarayi Vijayan directly wields influence over the Kerala State Industrial Development Corporation (KSIDC) and indirectly over CMRL.
The report alleges that Veena Vijayan’s firm violated regulations by failing to disclose financial dealings between CMRL and Exalogic Solutions. Initial attempts by the ROC to gather information from CMRL and Exalogic proved futile, with Veena Vijayan and her firm reportedly neglecting to provide crucial details, including those related to the contract signed with CMRL. Exalogic only submitted documentation confirming GST payments on funds received from CMRL.
The ROC report underscores that CMRL intentionally concealed this information, omitting the transaction with Exalogic as a related party. Subsequently, the Union Ministry of Corporate Affairs ordered an in-depth investigation due to irregularities uncovered during the preliminary ROC inquiry. The report aligns with findings from the Income Tax Interim Board for Settlement.
While Veena Vijayan’s name had surfaced earlier in connection with the allegations, Chief Minister Pinarayi Vijayan’s involvement has only recently been disclosed. This revelation has plunged the government and the Communist Party of India (Marxist) [CPI(M)] into a crisis.
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