New Delhi/Thiruvananthapuram: The Delhi High Court on Thursday rejected a plea by Cochin Minerals and Rutile Ltd (CMRL) to stay the ongoing Serious Fraud Investigation Office (SFIO) probe into alleged financial transactions between the company and Exalogic, an IT firm owned by Veena Vijayan, daughter of Kerala Chief Minister Pinarayi Vijayan.

The case was heard by a new bench following the transfer of the previous judge to the Allahabad High Court. While CMRL’s counsel sought an immediate stay on all proceedings, the SFIO strongly opposed the request, stating that the probe was in its final stages. The court, after considering the arguments, refused to grant any relief to the mining firm.

Kerala BJP leader Shaun George, who is a party in the case, welcomed the court’s decision, stating that the SFIO can now proceed unhindered. "Once the Ministry of Corporate Affairs grants prosecution sanction, the SFIO will be able to file its complaint in the special court," he said.

The SFIO has maintained that the ₹1.72 crore payment from CMRL to Exalogic was illegal gratification, ensuring smooth operations for the mining company without any legitimate service provided in return. This finding was first highlighted in an Income Tax Settlement Board report.

Earlier, two petitions challenging the SFIO investigation—one in the Kerala High Court by Congress legislator Mathew Kuzhalnadan and another in the Karnataka High Court—were dismissed. The Kerala High Court had also recently refused a Vigilance probe into the matter, citing a lack of sufficient evidence, though it allowed the petitioners to return with stronger proof.

With multiple legal setbacks, the only reprieve for Pinarayi Vijayan and his daughter so far has been the Kerala High Court’s refusal to order a Vigilance inquiry.
(With inputs from IANS)