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Time of India
27-05-2025
- Business
- Time of India
Plea seeking CBI probe into Exalogic issue: Kerala HC directs CM Pinarayi Vijayan, daughter to file affidavits
Kochi: High court on Tuesday directed the respondents, including chief minister , his daughter T Veena and others, in a public interest litigation (PIL) seeking a CBI investigation into alleged financial transactions between Cochin Minerals and Rutile Ltd (CMRL) and Exalogic Solutions, to file their counter affidavits by June 10. Tired of too many ads? go ad free now The division bench of Chief Justice Nitin Jamdar and Justice Basant Balaji issued the directive while adjourning the petition filed by M R Ajayan, a senior journalist from North Paravur, to June 17. Earlier, while the matter was being heard by a vacation bench, HC had directed the assistant solicitor general (ASG), appearing for the Union govt, to submit in a sealed cover the list of persons mentioned in the order of the Interim Board of Settlement (IBS), New Delhi, dated June 12, 2023, regarding the alleged transactions between CMRL and Exalogic Solutions, a now-defunct company formerly owned by T Veena. On Tuesday, ASG A R L Sundaresan submitted that the income tax department, which is represented by separate counsel, is the competent authority to furnish such details. The department's counsel informed HC that they would comply if such a direction were issued. However, the counsels for the respondents opposed the plea, contending that granting such a request without hearing them would violate the principles of natural justice. The bench concurred with this view and directed the respondents to file their counter-affidavits. Meanwhile, the petitioner, Ajayan, filed a review petition challenging the earlier interim order requiring submission of details in a sealed cover. He sought a modification of the order and a direction to the director of income tax (investigation) to produce all statements and affidavits submitted by CMRL officials, along with entries and records allegedly evidencing payments made to the chief minister. Tired of too many ads? go ad free now Ajayan's PIL seeks a CBI probe into the findings of the IBS, which purportedly revealed that CMRL had paid Rs 1.72 crore to Exalogic Solutions without any services being rendered. The petitioner alleges that the payment amounted to illegal gratification and has also sought an investigation into the alleged political nexus involving the companies and the CM.
Time of India
24-05-2025
- Business
- Time of India
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. Get the latest lifestyle updates on Times of India, along with Brother's Day wishes , messages and quotes !
