New Delhi: The Delhi High Court has granted 10 days to the Serious Fraud Investigation Office (SFIO) to file a counter-affidavit in a petition filed by CMRL (Cochin Minerals and Rutile Ltd) seeking annulment of the Exalogic-CMRL transaction investigation.

The court has adjourned until December 4 the hearing on CMRL’s petition requesting cancellation of the investigation. Meanwhile, CMRL urged the Delhi High Court for an expedited decision on the matter, requesting that the SFIO be restrained from submitting any final report until a verdict is issued on the petition.

Previously, the Delhi High Court had authorised the SFIO to proceed with the investigation, allowing its officials to record statements from several individuals involved in the transaction, including members of the CMRL board of directors and Veena Vijayan. During Tuesday’s hearing, CMRL reiterated its request to the court to prevent any interim conclusions.

Representing the SFIO, Additional Solicitor General Chetan Sharma requested an additional ten days to submit the counter-affidavit. While CMRL did not oppose the extension, it urged the court that the SFIO is currently prohibited from filing any final report. Following this, the court granted the SFIO the ten-day period for submission and directed both parties to submit their written arguments.

Justice Subramonium Prasad of the Delhi High Court initially reviewed CMRL's petition. Tuesday’s proceedings took place before the bench of Justice Chandra Dhari Singh. 

Advocate Shaun George, the complainant in the case, was also present at the Delhi High Court. Advocate Shinu J Pillai, representing Shaun George, informed the court that four related petitions were filed concerning this transaction, including in the Kerala High Court, with judgments already issued in three.