The Enforcement Directorate (ED) has issued summons to Veena T, daughter of opposition leader Pinarayi Vijayan, and eight others in connection with the CMRL-Exalogic case. The central agency is probing alleged irregularities in the financial transactions of Cochin Minerals and Rutile Ltd (CMRL) and its links with Veena's company, Exalogic Solutions Private Ltd.
Summons and Appearances
Sources said Veena has been directed to appear before the Kochi zonal office of the ED on Friday to give a statement under the Prevention of Money Laundering Act (PMLA). The others summoned include CMRL officials. The statement of CMRL managing director Sasidharan Kartha is also likely to be recorded.
Background of the Investigation
The ED's move comes in the backdrop of simultaneous raids conducted across the state, including at Veena's residences. Raids were also carried out on the premises of CMRL, its directors Sasidharan Kartha and Saran S Kartha, and Veena's company. Searches were conducted at 10 locations in Kottayam, Ernakulam, Kannur, Thiruvananthapuram, and Bengaluru.
Evidence and Legal Proceedings
The agency began issuing summons after recovering evidence during the raids, including material seized from Veena. Following the searches, the ED also moved a court seeking copies of all documents prepared by the Serious Fraud Investigation Office (SFIO). The request was granted on Monday, and the ED obtained copies of SFIO documents despite objections raised by CMRL. The agency will now question those involved based on evidence gathered during the raids as well as the SFIO records.
Allegations of Financial Irregularities
According to the ED, the income tax department conducted a search at CMRL in January 2019, during which fake expenses amounting to about Rs 130 crore were allegedly identified. CMRL also admitted to the fake expenses before the Income Tax Settlement Commission. In its order, the commission recorded findings regarding various alleged bribes paid by CMRL and admissions made by company personnel, the ED said.
SFIO Investigation and Prosecution
The ED initiated its probe under the PMLA based on investigations carried out by the SFIO. The SFIO filed a prosecution complaint on April 3, 2025, alleging corporate fraud against Sasidharan Kartha and 12 others. According to the ED, the SFIO investigation also uncovered fictitious cash expenses of Rs 182 crore over a span of 15 years, allegedly used to bribe various persons. The agency alleges that one of the fake expenses shown by CMRL was towards payments made to Veena. Her company allegedly received fraudulent payments totalling Rs 2.78 crore from CMRL under the guise of IT consultancy services, the ED said.
