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

“RoC’s serious findings against Exalogic”

Kochi: Serious findings by ROC, Bengaluru, against IT firm Exalogic owned by Kerala Chief Minister Pinaryi Vijayan’s daughter Veena had led to the centre constituting a 3-member panel to probe the case, media reports said.
The Registrar of Companies (ROC) in its preliminary report had cited serious lapses on part of Exalogic and CMRL in money dealings, the reports said.
The ROC said that Exalogic could not establish why it had received money from Cochin Mineral and Rutile Ltd (CMRL), the reports said.
ROC report points towards mysterious transactions taking place between both companies.
The report said that both the companies failed to produce contract details.
According to the Bengaluru ROC’s preliminary investigation report, action can be taken against Exalogic under Section 447 against fraud in company affairs and Section 448 against falsification of documents under the Companies Act 2013.
The CMRL board was not informed of the transaction with Exalogic violating Section 188 of Companies Act, the report said.

Photo credit: Facebook

Leave a Comment

Your email address will not be published. Required fields are marked *