THIRUVANANTHAPURAM : The Union government has announced a probe by the Serious Fraud Investigation Office (SFIO) into the affairs of Exalogic Solutions, the IT firm owned by Chief Minister Pinarayi Vijayan’s daughter Veena T, as well as Cochin Minerals and Rutile Ltd (CMRL) and KSIDC.
In the order issued on Wednesday, the Centre has tasked SFIO — functioning under the ministry of corporate affairs — with investigating the issue under the Companies Act 2013. “The probe should be completed and report submitted to the Union government in eight months,” said the order.
A six-member team will probe the matter, with Deputy Director M Arun Prasad as the investigating officer.
Exalogic has been in the eye of a storm after the Registrar of Companies (RoC) came out with a preliminary report pointing out major violations in its transactions with Kochi-based CMRL. The RoC had recommended investigations by the Enforcement Directorate and the CBI under the Prevention of Money Laundering Act and the Prevention of Corruption Act.
The latest investigation comes at a time the Left has been trying to defend politically the allegations raised against the CM over the issue.