Union Ministry Initiates Probe into Financial Irregularities in Veena Vijayan’s Firm

The Union Ministry of Corporate Affairs has launched a formal investigation into Exalogics Solutions, the company owned by Veena Vijayan, daughter of Kerala Chief Minister Pinarayi Vijayan. The decision comes after a preliminary inquiry, prompted by a complaint, revealed financial irregularities. The three-member probe team will scrutinize the financial transactions between Cochin Mineral and Rutile Ltd. (CMRL) and the Kerala State Industrial Development Corporation (KSIDC). The controversy arose last year when reports surfaced that CMRL had paid Rs 1.72 crore to Veena Vijayan’s company between 2017 and 2020 for consultancy and software support services, even though no services were allegedly rendered.

The investigation is expected to shed light on the nature of the financial dealings and determine whether any improprieties occurred. The report from the probe is anticipated within four months. This development adds to the political scrutiny surrounding the alleged financial dealings of Veena Vijayan’s firm and its connections with prominent political figures in Kerala.