Why afraid if there is nothing to hide? HC denies KSIDC's plea to stay SFIO probe

KOCHI: The High Court denied KSIDC's (Industrial Development Corporation) plea to stay the Serious Fraud Investigation (SFIO) probe against Chief Minister's daughter Veena Vijayan's company. An explanation has been sought from the central corporate ministry on the petition. While examining the plea, the High Court asked if there was anything to hide. KSIDC replied that there is nothing to hide. Then the court asked why he they are afraid. The case will be considered again on February 12.

The SFIO visited the Thiruvananthapuram office of KSIDC this afternoon. A six-member team headed by SFIO Deputy Director Arun Prasad is conducting the inspection.

It is reported that KSIDC's shareholding in CMRL is also being examined. The SFIO conducted a two-day inspection at CMRL's corporate office in Aluva. It is suggested that the SFIO officials may seek more clarity on the company's financial transactions. It is also known that more documents have been requested from the Income Tax Department for this purpose.