'Clarify on firms that gave monthly payment to Exalogic...' Opposition poses 5 questions to Kerala CM

Opposition leader V D Satheesan raised five questions to Chief Minister Pinarayi Vijayan regarding his daughter Veena Vijayan's firm Exalogic Solutions. Earlier the Karnataka HC ordered that the Serious Fraud Investigation Office (SFIO) probe into the Exalogic-CMRL transactions could continue.

Ernakulam: Opposition leader VD Satheesan asked the Chief Minister five questions regarding the 'monthly payment' (masappadi) allegations against his daughter Veena Vijayan on Tuesday (Feb 20). He said that these are the questions raised in the Karnataka High Court order. The court on Friday (Feb 16) rejected a petition filed by her firm Exalogic Solutions, seeking a stay on the SFIO probe. The Karnataka HC ordered that the Serious Fraud Investigation Office (SFIO) probe into the Exalogic-CMRL transactions could continue.

The five major questions raised by V D Satheesan:

1. Where did the substantial amount of loan taken by Exalogic from Empower India go?

2. Are there any tax exemptions given to the agencies that paid money to Exalogic Company?

3. Several companies gave payment to Exalogic every month. Can you clarify which ones they are?

4. Why didn't ED investigate Exalogic company for 3 years?

5. Which agencies are investigating the Exalogic company?

On February 12, arguments were held in the court for about one and a half hours. Arvind Duttar, appearing for Exalogic, argued that they have fully cooperated with the ROC under Rule 210 of the Companies Law. Yet Duttar had argued that it was not clear on what basis the SFIO announced the inquiry under Rule 212 of the same Act and it was not legal. However, Additional Solicitor General Kullur Arvind Kamath, who appeared for the SFIO, stated that it was clear from the preliminary investigation that serious financial crimes had been committed in the dealings of CMRL.

There is also evidence that Rs 1.72 crore was transferred to Veena Vijayan's Exalogic without rendering any services.

A controversy erupted in Kerala last year, citing Income Tax findings that CMRL (Cochin Minerals and Rutile Limited) had paid a total of Rs 1.72 crore to the chief minister's daughter's firm between 2017 and 2020 without rendering any services.