In a recent development, the Karnataka High Court has deferred its decision on Exalogic Solutions’ plea seeking to halt the Serious Fraud Investigation Office (SFIO) inquiry into the alleged receipt of Rs 1.72 crore from Cochin Minerals and Rutile Limited (CMRL) without providing any service. While postponing the verdict, the court directed Exalogic Solutions to submit all documents requested by the SFIO.
The case revolves around the financial transaction between Exalogic Solutions and CMRL, and the SFIO’s investigation aims to probe the nature and legitimacy of the funds involved. The court’s decision to delay the verdict indicates a continued legal battle between Exalogic Solutions and the SFIO, with a focus on transparency and document submission.
The company sought to halt the Serious Fraud Investigation Office (SFIO) inquiry into the alleged receipt of Rs 1.72 crore from Cochin Minerals and Rutile Limited (CMRL) without providing any services. While deferring the verdict, the court instructed SFIO not to take any ‘hard actions,’ essentially avoiding immediate arrests. SFIO asserted that Exalogic received funds without delivering services, and CMRL had reportedly given Rs 135 crore to various politicians, prompting suspicions about certain transactions.
During the hearing, the court questioned SFIO about any plans for arrests, and SFIO clarified that, for the time being, notices had been served without arrests. The Division Bench of the Karnataka High Court conducted the hearing, and the verdict is anticipated within ten days.
This case, involving Exalogic Solutions and CMRL, has been a focal point in Kerala politics, garnering attention and debates in the state assembly. Notably, the involvement of CPM in supporting Veena Vijayan, the daughter of their party leader, adds an interesting and unusual dimension. This contrasts with CPM’s stance in the past when the sons of the late CPM state secretary, Kodiyeri Balakrishnan, faced legal issues. During those instances, CPM maintained that the legal process should unfold independently. This shift in approach has raised eyebrows among CPM supporters and cadres, prompting discussions and reflections on the party’s consistency in addressing legal matters.
As the legal battle continues, the Karnataka High Court’s eventual decision will likely have broader implications, impacting not only the fate of Exalogic Solutions’ petition but also shaping the narrative around political and legal accountability in the state.
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