Bengaluru: A copy of Karnataka High Court’s verdict rejecting Exalogic’s plea to cancel the Serious Fraud Investigation Office (SFIO) investigation has been released. Justice M Nagaprasanna’s 46-page verdict affirms the legality of the SFIO’s probe into Veena Vijayan’s company which has prompted the petition submitted by Exalogic to be declared invalid by the court. Earlier, the court had only issued a single line statement rejecting Exalogic’s petition.
The judgment stated that there are no legal obstacles to SFIO’s inquiry, thus Exalogic’s attempt to halt the investigation is unfounded. The inquiry was transferred to SFIO at the appropriate stage, and legally, it cannot be halted. Therefore, Exalogic’s petition is dismissed.
A single bench presided over by Justice M Nagaprasanna heard the petition. SFIO informed the court that CMRL had paid politicians Rs 135 crore, and Exalogic received Rs 1.72 crore without providing any services. Based on these facts, the Karnataka High Court dismissed Exalogic’s petition.
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