SFIO Probe: HC gives nod for more investigation

Kochi: Kerala High Court condemns Kerala State Industrial Development Corporation  (KSIDC)  on the Cochin Minerals and Rutile Limited ( CMRL)  illegal money laundering case. The court accused KSIDC of delay in demanding explanation from CMRL regarding the controversy. The first ruling of the court in connection with this case  was on February 7. However, KSIDC demanded explanation only on February 21. The court asked whether the investigation would not help KSIDC and also demanded them to prove that they are being victimised in this case. 

Additional Solicitor General Aravind Kamath appeared for the Serious Fraud Investigation Office (SFIO). According to SFIO, the investigation is directed towards CMRL, KSIDC, and Exalogic Solutions under the ownership of CM Prinarayi Vijayan’s daughter Veena Vijayan.

HC suggests that the SFIO should move forward with the investigation. Justice Devan Ramachandran said the same after the court adjourned KSIDC’s petition for consideration on April 5 due to the inconvenience of Supreme Court senior advocate C S Vaidyanathan, who will appear for KSIDC. The court also commented that KSIDC should have demanded for the investigation regarding the anomaly of Rs135 crores.