The Serious Fraud Investigation Office (SFIO) has informed the Karnataka High Court that no coercive steps will be taken against T. Veena, daughter of Kerala Chief Minister Pinarayi Vijayan and director of Exalogic Solutions Private Limited, against whom it has launched an investigation.
Additional Solicitor General Arvind Kamath, who appeared for the Central government, said an investigation by the SFIO was launched as serious frauds were detected in the deals involving Cochin Minerals and Rutile Ltd. (CMRL). The company was found involved in several shady financial deals, he contended.
Ms. Veena had approached the court against the SFIO probe, which covered the financial deals among her company Exalogic Solutions Private Limited, Cochin Minerals and Rutile Limited, and the Kerala State Industrial Development Corporation.
