No relief for Vijayan's daughter's IT firm from Karnataka or Kerala HCs

Bengaluru/Kochi: Kerala Chief Minister Pinarayi Vijayan's daughter Veena Vijayan, who owns IT firm Exalogic, on Monday suffered a double jolt as both the Karnataka and Kerala High Courts did not provide her any relief.

Exalogic, whose sole director is Veena Vijayan, had approached the Karnataka High Court seeking a stay of the ongoing probe by the Serious Fraud Investigation Office (SFIO).

However after a 90 minute hearing, the court asked her to cooperate with the SFIO and directed the agency not to make any arrest till they come out with their final order.

The court asked Exalogic to cooperate with the SFIO and answer all what they ask as counsel for Exalogic tried in vain to prevent the SFIO from going forward in their probe.

It asked SFIO if they have any plans to arrest anyone, to which they said as things stand now, they have no such need.

The SFIO is acting on the findings of the preliminary probe into the company conducted by the Registrar of Companies (ROC). Prior to the ROC investigation, this issue was first raised by Congress MLA Mathew Kuzhalnadan on the basis of a media report, quoting an Income Tax official as saying that Exalogic had received Rs 1.72 crore from the mining company CMRL, in which the KSIDC (Kerala State Industrial Development Corporation) has around 13 per cent stake.

At the Kerala HC, it was the KSIDC's petition which came up demanding a stay on the SFIO probe, but here too things did not go in favour of Exalogic as the court, like last week, orally remarked why is the state government agency concerned about a probe and why is it they are trying to prevent it and it would be better if the probe goes forward.

While the Karnataka HC ordered for the probe to continue but said their final orders on Exalogic’s petition will be delivered in 7 to 10 days and restrained the SFIO from making any arrest, the Kerala HC asked KSIDC to come back with papers that have been asked and posted the case for February 26.

Meanwhile, the CPI-M's Kerala state Secretary M.V.Govindan told the media in the state capital that the Centre is going forward targeting political opponents by unleashing national agencies and the CPI-M will deal with it politically also.