Bengaluru: The Karnataka High Court is set to deliver an interim order today regarding Exalogic’s petition to dismiss the Serious Fraud Investigation Office (SFIO) investigation in the monthly payment case. Presided over by Justice M Nagaprasanna, the verdict is scheduled for 2:30 pm. Chief Minister Pinarayi Vijayan’s daughter, Veena Vijayan, is the central figure in the Exalogic-CMRL mystery deal. The outcome of today’s ruling holds significance as the CPI(M) mounts its defense for Exalogic and Veena.
The petition was lodged in Karnataka since Exalogic is headquartered there. The opposing parties include the SFIO Director and the Central government. Exalogic’s lawyer emphasized their full cooperation with the Registrar of Companies’ (ROC) investigation. Arguing for the case’s dismissal, Exalogic’s lawyer contended that the grounds for the SFIO investigation under Section 212 of the Companies Act lacked clarity.
The SFIO informed the Karnataka High Court that the investigation into the Monthly payment case had started in January 2021. This disclosure was in the counter affidavit submitted by the SFIO against Veena Vijayan and the Chief Minsiter. In the counter affidavit SFIO stated that as part of the inquiry process, a statement was obtained directly from Veena Vijayan, the proprietor of Exalogic, on July 22, 2022. It was further stated that Veena appeared before Bengaluru Registrar of Companies (ROC) officials for interrogation and statement recording. SFIO informed the court that Veena Vijayan was penalized, and Exalogic ceased operations in November 2022.
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