Did You Seek Explanation From CMRL? First Show Your Bonafide: Kerala High Court To KSIDC On Plea Against SFIO Probe
10 months, 1 week ago

Did You Seek Explanation From CMRL? First Show Your Bonafide: Kerala High Court To KSIDC On Plea Against SFIO Probe

Live Law  

The Kerala State Industrial Development Corporation Ltd has approached the Kerala High Court seeking to be removed from the investigation conducted by the Serious Fraud Investigation Office into Exalogic Solutions, an IT company owned by CM Pinarayi Vijayan's daughter, which is allegedly involved in CMRL bribery case. Justice Devan Ramachandran orally stated that the KSIDC would be removed from the party array only if they prove their bonafides that they were not aware of the alleged illegal dealings made by CMRL. The single bench also stated that further investigation is for the benefit of KSIDC as it would bring forward any illegal transactions made by CMRL. The Union Government had initiated an investigation against CMRL, Exalogic Solutions and KSIDC by an investigating team and an interim report was submitted seeking SFIO probe under Section 210, 212 of the Companies Act, since the investigation team had found that KSIDC holds a 13.4 per cent share in CMRL and that they also had a nominee director on CMRL's Board.

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History of this topic

KSIDC should facilitate SFIO investigation and should not adopt face-saving tactics: Centre tells HC
5 months ago

KSIDC should facilitate SFIO investigation and should not adopt face-saving tactics: Centre tells HC

The Hindu  

The Central government has informed the Kerala High Court that the decision of the Kerala State Industries Development Corporation to seek a forensic audit of the financial transactions of the Cochin Minerals and Rutile Limited was a face-saving attempt to wriggle out of the investigation being conducted by the Serious Fraud Investigation Office. The submission was made by the Registrar …

KSIDC Can't Escape SFIO Probe On Ground That It Is A Govt Agency, May Lose Reputation Before Public: Centre To Kerala High Court
9 months, 1 week ago

KSIDC Can't Escape SFIO Probe On Ground That It Is A Govt Agency, May Lose Reputation Before Public: Centre To Kerala High Court

Live Law  

The Central Government, Director General of Corporate Affairs, Registrar of Companies and Serious Fraud Investigation Office has filed a reply before the Kerala High Court stating that the Kerala State Industrial Development Corporation Ltd could not take shelter and escape from the investigation conducted by the SFIO stating that they are a government agency and would lose reputation before the …

Karnataka HC dismisses petition filed by company owned by Kerala CM daughter that challenged probe against shady transactions
10 months, 1 week ago

Karnataka HC dismisses petition filed by company owned by Kerala CM daughter that challenged probe against shady transactions

Op India  

In a setback to Veena Vijayan, the daughter of Kerala Chief Minister Pinarayi Vijayan, the Karnataka High Court on Friday dismissed the petition filed by Exalogic Solutions Private Limited of which she is a director. Investigation revealed that Rs 135 crores was given by Cochin Minerals and Rutile Ltd to various political functionaries and Rs 1.72 crores was paid by …

Misappropriation tantamount to exchequer loot: Registrar of Companies Kerala
10 months, 1 week ago

Misappropriation tantamount to exchequer loot: Registrar of Companies Kerala

New Indian Express  

KOCHI: The office of the Registrar of Companies Kerala on Monday informed the High Court that misappropriation of funds in Cochin Minerals and Rutile Ltd is tantamount to looting of public exchequer and it will have an impact on the general industrial development of the state. Citing the complaint filed by Shone George, the ROC pointed out that as a …

Probe into Kerala CM's daughter's firm: HC seeks documents from state-run KSIDC
10 months, 1 week ago

Probe into Kerala CM's daughter's firm: HC seeks documents from state-run KSIDC

New Indian Express  

KOCHI: The Kerala High Court on Monday asked the state-run KSIDC to provide documents to prove it had sought explanation from Cochin Minerals and Rutile Ltd over the alleged financial transactions made to the IT company of Chief Minister Pinarayi Vijayan's daughter Veena and others. The Court was hearing a plea by Kerala State Industrial Development Corporation seeking to quash …

CMRL money transactions: Kerala HC expresses displeasure with Centre over staying mum on SFIO probe
11 months ago

CMRL money transactions: Kerala HC expresses displeasure with Centre over staying mum on SFIO probe

New Indian Express  

KOCHI: The Kerala High Court on Wednesday expressed dissatisfaction with the Union government for failing to apprise the court of the status of the Serious Fraud Investigation Office probe into the alleged illegal financial transactions involving Cochin Minerals and Rutile Ltd, Chief Minister Pinarayi Vijayan’s daughter Veena T's software firm and some politicians. The court conveyed its displeasure during the …

SFIO Not Barred From Investigating IPC Offences, Conducting 'Further Probe': Delhi High Court
1 year ago

SFIO Not Barred From Investigating IPC Offences, Conducting 'Further Probe': Delhi High Court

Live Law  

The Delhi High Court has observed that the Serious Fraud Investigation Office is not barred from investigating offences under the Indian Penal Code, 1860, or conducting further investigation in accordance with law after the Investigation Report has been submitted.“From a conjoint and harmonious reading of the relevant provisions of the CrPC and the present Act, as quoted hereinabove,. The Delhi …

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