Thiruvananthapuram (Kerala): The Centre announced on Friday an inquiry against Exalogic, the company owned by Kerala Chief Minister Pinarayi Vijayan's daughter T Veena for allegedly violating laws regarding financial deals. As per findings by the Income Tax Interim Settlement Board, a mineral sand mining company, CMRL, paid Rs 1.72 crore illegally to Exalogic to court favour with the CM.
The Corporate Affairs Ministry officials and a three-member high-ranking team have been appointed for a detailed investigation that is being conducted under Section 210.1.C (in the public interest, it may order an investigation into the affairs of the company) of the Companies Act, 2013. As per the order, the report is to be submitted within four months.
The team consists of Karnataka Deputy Registrar of Companies Varun BS, Chennai Deputy Director KM Shankara Narayanan and Pondicherry Registrar of Companies (ROC) A Gokulnath. Initially, a probe was initiated against CMRL, a public sector body, Kerala State Industrial Development Corporation (KSIDC), and Exalogic. As per sources, Exalogic allegedly received crores as a monthly payment from CMRL without providing any services.
The Registrar of Companies Bengaluru then ordered a detailed investigation against CMRL and KSIDC and served notices to clarify their part. The CMRL failed to provide any solid statement in their defence during the interrogation. However, Vijayan and the Communist Party of India (Marxist) argued that the amount was paid by CMRL for Exalogic's services and denied allegations against them. The Series Fraud Investigation Office will take over the probe if Vijayan and his party are found guilty.
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