SFIO report in CMRL case: Kerala HC extends status quo in proceedings before special court
Kochi: High court has extended by four months its earlier interim order directing the maintenance of status quo in proceedings before the special court concerning a report filed by the Serious Fraud Investigation Office (SFIO) against Cochin Minerals and Rutile Ltd (CMRL), a Kochi-based company accused of financial fraud.
Justice P V Kunhikrishnan extended the interim order on Friday in a petition filed by CMRL challenging the special court's order taking cognisance of the SFIO report and issuing summons to the accused, including T Veena, daughter of chief minister Pinarayi Vijayan. Along with extending the interim order, the bench adjourned the matter with a direction to complete serving of notice on the respondents.
In its petition, CMRL argued that it had not been granted an opportunity for a pre-cognisance hearing under Section 223(1) of the BNSS, asserting that the BNSS was applicable since the complaint was filed in March-April 2025.
However, the central govt and SFIO maintained that CrPC would govern the proceedings, as BNSS came into effect only on July 1, 2024, and the investigation had commenced prior to that. In an earlier hearing, HC had directed the central govt to file a counter-affidavit on the issue.
The petition arises from a SFIO complaint under the Companies Act before the special court in Ernakulam, alleging that CMRL was involved in fraudulent transactions worth Rs 182 crore.
In an order dated April 11, the court arrayed Sasidharan Kartha, his son Saran Kartha, T Veena and their respective firms as accused. Veena was named for allegedly receiving Rs 2.73 crore from the company without rendering any services.
The special court found sufficient grounds to take cognisance of the offences and issued process against the accused for violations of Sections 129 and 134, and for offences under Sections 447 (punishment for fraud) and 448 (punishment for making false statements), read with Section 447 of the Companies Act. CMRL has challenged the proceedings, citing denial of a pre-cognisance hearing.
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