WhatsApp Image 2023-02-26 at 9.49.20 AM (1)
WhatsApp Image 2023-02-26 at 9.49.20 AM

Centre orders probe against Exalogic

Kochi: The centre has ordered a probe against Kerala Chief Minister Pinarayi Vijayan’s daughter T Veena owned Exalogic Solutions in connection with allegations including fraud worth Rs 1.72 crore, media reports said.
The panel has been asked to submit the report within four months on various issues including Exalogic receiving monthly payments from sylyminite mining Cochin Minerals and Rutile Ltd (CMRL) without rendering any service, the reports said.
The Ministry of Corporate Affairs has ordered the probe by a three member team comprising Karnataka Deputy Registrar of Companies Varun B S, Chennai Deputy Director K M Shanker Narayan and Pondicherry Registrar of Companies A Gokulnath.
Kerala State Industrial Development Corporation (KSIDC) which is an associate of CMRL will also come under the ambit of the probe ordered after the Registrar of Companies in Bengaluru found violations by CMRL under the Companies Act 2013.
The Malayala Manorama had published the reports on CMRL’s monthly payment to Veena Vijayan’s firm and other politicians a few months back quoting Income Tax Interim Settlement Board.
The Kochi based Cochin Minerals and Rutile Ltd (CMRL) was founded in 1989 by S N Sasidharan Kartha in association with KSIDC.
It is involved in mining of Ilmenite used in paints, printing inks, fabrics, plastics, paper, sunscreen, food and cosmetics.
An income tax raid at CMRL in 2019 found irregularities in accounts which were challenged by the company before the Interim Board for Settlement under the Central Board of Taxes which rejected the prayers, the reports said.

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