SFIO Team Probes Financial Transactions Involving Kerala CM’s Daughter’s Firm
The Serious Fraud Investigation Office (SFIO) has extended its scrutiny into the financial dealings of Cochin Minerals and Rutile Ltd (CMRL) and Exalogic Solutions Private Ltd, linked to Kerala Chief Minister Pinarayi Vijayan’s daughter, Veena. In the latest developments, the SFIO team visited the Kerala State Industrial Development Corporation’s (KSIDC) head office to gather additional information regarding alleged financial irregularities. This investigation was prompted by a plea filed in the Kerala High Court, which raised concerns about corrupt practices involving KSIDC, CMRL, and Veena’s firm. The controversy erupted last year when reports surfaced that CMRL had disbursed Rs 1.72 crore to Veena’s firm over a three-year period without tangible services being rendered. The accusations further intensified with findings from the Registrar of Companies (ROC), leading to a series of allegations by the Congress-led UDF opposition.
As the SFIO delves deeper into the complex financial transactions, the spotlight on potential offences such as receiving funds through false documents and providing services without merit continues to grow. The visit to KSIDC’s head office marks another crucial step in the inquiry, shedding light on the interconnections between various entities under scrutiny. The outcome of the SFIO investigation will likely play a pivotal role in determining the implications for those involved in these alleged financial irregularities.
