The Central government recently informed the Kerala High Court that it has issued an order under the Companies Act for initiating an investigation into IT firm, Exalogic Solutions, owned by Chief Minister Pinarayi Vijayan's daughter, Veena Thaikkandiyil. [Shone George v. Ministry of Corporate Affairs & Ors.]The counsel for the Central government informed Justice Devan Ramachandran about the same when the Court was hearing a petition moved by advocate and politician Shone George alleging fraudulent financial transactions between Exalogic and Cochin Minerals and Rutile Ltd. (CMRL) and Kerala State Industrial Development Corporation Ltd (KSIDC).The Court was informed that the Centre has ordered investigation into all three firms."Interestingly, when this matter was called today, the learned Central Government Counsel – Sri.Sreejith, submitted that, adverting to the complaint of the petitioner, orders have been issued under Section 210 of the Companies Act and that same will be produced on record by the next posting date," the Court recorded in an interim order passed on January 15.In his petition, George contended that funds were being siphoned from CMRL through shell companies and dummy vendor contracts. He alleged that Thaikkandiyil's firm is nothing but a shell company promoted as a one-person company solely for parking the Chief Ministers proceeds from corruption.He approached the High Court seeking directions to the Central government to consider a complaint submitted by him in this regard, and initiate appropriate probes.When the central government counsel informed the court of the order issued under Section 210 of the Companies Act, George's counsel argued that the matter requires the attention of the Serious Fraud Investigation Office (SFIO) as well.
The Court directed the counsel to file the order before the Court and to inform it as to whether any further action by the SFIO has been ordered or found warranted.The matter will be taken up next on January 24.George was represented by advocates Mariya Rajan, Shinu J Pillai, S suja, Aiswarya James, Nesmel Divan, Divya Bijoy, and Swetha Elizabeth Sabor.Senior Central Government Counsel RV Sreejith appeared for the Central government.CMRL was represented by advocates Gopalakrishnan Nambiar M, K John Mathai, Joson Manavalan, Kuryan Thomas, Paulose C Abraham, Raja Kannan, and Pranoy Harilal.Exalogic Solutions was represented by advocate PU Shailajan.
TAGS: Central government Kerala High Court Companies Act Exalogic Solutions Chief Minister Pinarayi Vijayan
