Ernakulam: The Kerala High Court declined the Kerala State Industrial Development Corporation (KSIDC)’s plea to stay the SFIO’s investigation against the KSIDC in connection with the monthly payment scam involving Kerala CM Pinarayi Vijayan’s company.
The Kerala High Court has recommended that continuing investigation by the Serious Fraud Investigation Office (SFIO) into Veena Vijayan’s company, Exalogic Solutions’ connection to the monthly payment scam case. The court also questioned the necessity of halting the SFIO’s investigation. These remarks came during the court’s consideration of a plea submitted by the KSIDC to halt the SFIO investigation into the monthly scam case. The Court also stated that the investigation would clarify whether any criminal activities were involved in the monthly scam case.
Additionally, the court also pointed out to the KSIDC that ongoing investigations would not lead to a sense of guilt.. Court highlighted that investigations are necessary to determine the truth behind the alleged criminal activities. The court advised KSIDC to cooperate with the investigation process, as KSIDC’s claim of innocence can be proven through clear investigation.
Meanwhile, KSIDC informed the court that they had previously sought clarification from CMRL at the onset of the monthly payment scam controversy between Exalogic Solutions and Cochin Minerals and Rutile Limited (CMRL). KSIDC stated that CMRL has not provided the necessary information. Furthermore, KSIDC clarified to the court that while they have no objection to investigations against CMRL and other involved parties, the ongoing investigation is damaging the KSIDC’s reputation. They emphasized that KSIDC has not involved in the day-to-day dealings of CMRL.
KSIDC is a nodal agency of the Kerala state government responsible for promoting and developing medium and large-scale industrial units in Kerala.
During the court proceedings, the plaintiff parties, including the Central government and SFIO, highlighted that CMRL had not submitted all financial transaction documents related to Veena Vijayan’s company in connection with the monthly payment scam.