Monthly quota controversy: Do not hide anything, HC tells KSIDC, probe can continue

KOCHI: The Kerala High Court on Tuesday said that the Serious Fraud Investigation Office (SFIO) can continue its probe against the Kerala State Industrial Development Corporation (KSIDC) in the monthly quota issue. The High Court was hearing KSIDC's plea challenging the SFIO investigation.

Justice Devan Ramachandran said that if CMRL has done dubious transactions, KSIDC should welcome the investigation and try to bring out the truth. He also said that the KSIDC should not hide anything. The court will consider the case again on April 5. KSIDC had filed a petition seeking quashing of the SFIO investigation.

The Ministry of Corporate Affairs informed the court that the SFIO is carrying out a probe into the activities of Exalogic, CMRL and KSIDC. Exalogic Company is owned by Chief Minister Pinarayi Vijayan's daughter Veena Vijayan. The Centre pointed out that more than Rs 1 crore was received from CMRL in the name of Exalogic for services provided. CMRL is the defendant in this case.