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Exalogic irregularities: Rs 55 crore from CMRL moved to Veena Vijayan, not her firm, says ROC

The Registrar of Companies (ROC) has again found irregularities in the fund transaction of Kerala CM Pinarayi Vijayan's daughter Veena Vijayan's firm Exalogic Solution. The ROC has found that Rs 55 lakh was directly transferred to Veena Vijayan's account.

Exalogic irregularities: Rs 55 crore from CMRL moved to Veena Vijayan, not her firm, says ROC anr
First Published Jan 19, 2024, 10:55 AM IST

Thiruvananthapuram: In its investigation of Chief Minister Pinarayi Vijayan's daughter Veena Vijayan's company Exalogic Solutions, the Registrar of Companies (ROC) asked Veena Vijayan about the money she got directly from Cochin Minerals and Rutile Limited (CMRL) rather than on behalf of her company. Veena provided an inadequate explanation for the Rs 55 lakh transaction into her account, according to the Bengaluru ROC. Veena, though, claimed that the ROC's queries lacked precision. 

Registrar of Companies wants Kerala CM's daughter Veena Vijayan prosecuted for Exalogic irregularities

How Veena Vijayan received the Rs 55 lakh directly into her account, as opposed to having it transferred into the company's name, is the question that ROC poses. She clarified that there was no particular agreement between them and that it was for the software service she provided on her own. The ROC declared that if the information from the supporting documents is provided, the questions that are deemed to be ambiguous can be further addressed.

In the meantime, the ROC identified anomalies outside of the CMRL-Exalogic agreement. In addition to receiving Rs 3 lakh per month from Exalogic for software services, the ROC expressed concerns about the money going to Veena's account. In response, Veena Vijayan stated that she is an IT professional with the ability to work independently as a software consultant. 

The ROC had found that Veena Vijayan falsified documents in connection with  Bengaluru-based firm Exalogic Solution. It was discovered that Exalogic Solution's application and affidavit, which were submitted to freeze the company, contained incorrect details. According to the Bengaluru ROC assessment, Veena has to be prosecuted. 

The Exalogic company has already been accused of being frozen to conceal several things. In addition to naming Exalogic and Veena, the ROC Bangalore investigation also pointed out anomalies in freezing. According to the report, Veena Vijayan has blatantly fabricated the documents that were filed to the ROC to freeze the company.

Trouble mounts for Exalogic; firm owned by Kerala CM's daughter made 'mysterious transactions', says ROC

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