Thiruvananthapuram: The Serious Fraud Investigation Office (SFIO) has sent notices to all companies that had financial transactions with Exalogic. Notices have been issued in accordance with company law, requiring submission of documents to the Chennai office by the 15th of this month. There is also a warning of legal action if the notice is disregarded. These follow-up steps were taken after the court allowed SFIO to proceed with the investigation. Twelve establishments in Kerala have received such notices.
SFIO examined Exalogic’s bank account as part of the investigation. Based on this, notices have been sent to those who conducted financial transactions.The crucial question posed in the notice concerns the nature of transactions with Exalogic. Copies of contracts, work orders, and invoices have all been requested to clarify this matter.
It is alleged that CMRL paid Exalogic for IT-related services. SFIO found that since 2016, in addition to CMRL, more than 10 firms have engaged in financial transactions with Exalogic. The Enforcement Directorate (ED) had also discovered this earlier.
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