Ernakulam: The Kerala High Court has rejected the Kerala State Industrial Development Corporation’s (KSIDC) plea to stay the ongoing investigation by the Serious Fraud Investigation Office (SFIO). The court emphasised the importance of cooperation and transparency in the investigation process and raised questions about KSIDC’s reluctance.
During the proceedings, the court expressed curiosity about KSIDC’s apprehensions regarding the SFIO inspection, particularly regarding the seizure of records. Responding to the court’s queries, KSIDC maintained that it had nothing to hide and denied any involvement in wrongdoing. The petition will be considered again on the 12th of this month.
Additionally, the central government has intervened in the proceedings, urging KSIDC to fully cooperate with the investigation. The central government also stated that the truth in the controversial CMRL-Exalogic deal should come out.
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