In a significant legal development, the Karnataka High Court has dismissed the petition filed by Veena Vijayan, daughter of Kerala Chief Minister Pinarayi Vijayan and wife of Kerala Minister P A Mohammed Riyas, seeking to halt the Serious Fraud Investigation Office (SFIO) inquiry into allegations against her. Justice M Nagaprasanna delivered the decision, asserting the necessity of the SFIO investigation.
The verdict, spanning 46 pages, was rendered on February 15, with details disclosed by the High Court Registrar on the following day.
The Court referred to inquiries conducted by the Registrar of Companies (RoC) and the Income Tax department into the dealings of Exalogic Solutions, a company owned by Veena Vijayan. The petition aimed to stop the SFIO inquiry, but the Court ruled in favor of allowing it to proceed, emphasising that RoC had adhered to proper procedures before transferring the case to SFIO.
Highlighting the gravity of the matter, the Court underscored that SFIO’s scope extends beyond the alleged Rs 1.72 crore transactions between Exalogic Solutions and Cochin Minerals and Rutile Limited (CMRL) to encompass Rs 135 crore, which CMRL purportedly transferred to various political figures.
Dismissing arguments against the legality of SFIO’s involvement, the Court emphasised the agency’s vital role in uncovering complex financial crimes, citing a previous Supreme Court directive that such crimes pose threats to the nation’s economy.
Emphasising the challenges faced by investigative agencies in handling such intricate cases, the Court expressed confidence in SFIO’s capabilities to meticulously gather and analyse pertinent information. With the Court’s decision now public, SFIO can proceed unhindered with its interrogation of Veena Vijayan.
Exalogic Solutions had filed the petition in response to the Ministry of Corporate Affairs’ directive for an SFIO inquiry. The timing coincided with reports indicating SFIO’s readiness to question Veena Vijayan.
As the spotlight shifts to SFIO’s investigation into the dealings between Exalogic and CMRL, all eyes are on the potential outcomes. Against the backdrop of Chief Minister Pinarayi Vijayan’s assertions of innocence and the CPM’s official statements supporting Veena Vijayan and her father, the people of Kerala await the findings of SFIO’s probe with keen interest.
