2024-02-13 02:17:19
Kochi: High Court said SFIO’s investigation in Masapadi case is good. Isn’t it better that the truth comes out at this stage? The High Court also asked the KSIDC why it was trying to block the investigation. The SFIO also requested the High Court that further investigation is required in the case. A detailed examination of the documents is required. The court criticized the stand of KSIDC which opposed the investigation. The court also asked KSIDC to produce a copy of the explanation sought from CMRL on the Exalogic agreement.
The Central Government has clarified in the High Court that the investigation once morest KSIDC cannot be avoided. According to the Serious Fraud Investigation Office, the involvement of KSIDC, a public sector organization with 13 percent share in CMRL Company, in this matter will be clear only following checking the documents. The High Court was considering the petition filed by KSIDC seeking to stop the investigation by the central government.
KSIDC stated in the court that they are the only shareholder in CMRL, a mining company, and when they came to know regarding the financial transaction involving Exalogic, they asked CMRL for an explanation. As the KSIDC sought two weeks’ time to produce these documents, the hearing of the petition was postponed to the 26th of this month.
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Exalogic must provide documents requested by the SFIO; Verdict later on Veena’s petition; Karnataka High Court said no drastic measures till then
Meanwhile, the Karnataka High Court has adjourned the plea seeking an interim stay on the investigation by the Serious Fraud Investigation Office (SFIO) into CMRL-related transactions of Veena, daughter of the Chief Minister and wife of the Public Works Minister. The court also directed that no harsh measures including arrest should be taken till then. A bench of Justice M Nagaprasanna heard the petition.
Exalogic Solutions Company Director T Veena approached the court once morest the investigation. The court directed Exalogic to produce all the documents sought by the SFIO. Veena Vijayan is also directed to reply to the SFIO notice.
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- First Published : February 13, 2024, 7:47 am IST
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