Karnataka High Court to Rule on Exalogic’s Plea Seeking Quashing of SFIO Probe in Payoff Case

Anticipation looms as the Karnataka High Court is set to deliver its verdict on the plea filed by Exalogic, a company associated with Veena Vijayan, seeking to quash the ongoing investigation by the Serious Fraud Investigation Office (SFIO) in a payoff case. The decision is expected to be announced today at 2:30 pm by Justice M Nagaprasanna’s bench.

Exalogic, headquartered in Bengaluru, submitted the plea in response to SFIO’s investigation initiated under Rule 212 of the Companies Act. The company argues that this investigation is unlawful, pointing out that a prior investigation was conducted and reported by the Registrar of Companies under Rule 210 of the Companies Act. Exalogic emphasizes its full cooperation with the earlier investigation.

The plea, filed through advocate Manu Prabhakar Kulkarni, was presented to the Karnataka High Court amid rumors of Veena Vijayan, associated with Exalogic, facing SFIO interrogation. The court considered the plea last Monday after an hour-long argument, and the verdict was postponed until today.