CMRL staff told SFIO that the firm owned by CM's daughter not provided any services to their company.

CMRL staff told SFIO that the firm owned by CM's daughter not provided any services to their company.

CMRL staff told SFIO that the firm owned by CM's daughter not provided any services to their company.

Kochi: In a significant revelation, the Central Government has informed the Delhi High Court that individuals supporting terrorist organizations are suspected of receiving funds from the Cochin Minerals and Rutile Limited (CMRL). The counsel representing the union government also disclosed that the Serious Fraud Investigation Office (SFIO) had already completed its probe against Exalogic Solutions, CMRL, and the Kerala State Industrial Development Corporation (KSIDC) in the alleged funding scam. The investigation report has been submitted for review. These details emerged during the court's consideration of a petition by CMRL seeking to halt the SFIO investigation into its dealings.

According to the Centre's counsel, the SFIO’s investigation focused on alleged irregularities in CMRL’s transactions, asserting that the agency had the authority to conduct such a probe. Statements from the company officials confirmed that CMRL paid money to Exalogic Solutions, a firm run by Veena Vijayan, daughter of Chief Minister Pinarayi Vijayan. However, Exalogic has not provided any services in return for the payments, the counsel clarified.

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The Centre further argued that since KSIDC, a public sector entity, holds shares in CMRL, the SFIO is empowered to carry out the investigation. The payments are suspected to have been made to influence political leadership, with fake invoices being used for transferring the funds --a pattern likened to the infamous cattle feed scam in Bihar.

The Delhi High Court has scheduled further arguments in the case for December 23. On the same day, the court will also hear submissions from Shaun George, a BJP leader who has sought to implead in the case.

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As per the information available, the SFIO has submitted its investigation report to its director and the same will be handed over to the Ministry of Corporate Affairs for its consideration. The centre will now decide whether or not to proceed with its prosecution.

Terror links under scrutiny
An earlier finding by the Interim Settlement Board indicated that CMRL unauthorizedly disbursed Rs.135 crores. However, the Centre’s counsel stated that the actual sum involved was found to be Rs.184 crores. The investigation is now examining whether recipients of these funds also included individuals with links to extremist organisations.