From Our Correspondent
Kochi: The Enforcement Directorate (ED) on Thursday grilled T. Veena, daughter of former Kerala Chief Minister and Leader of the Opposition Pinarayi Vijayan, for nearly 10 hours at its zonal office here in connection with the ongoing money laundering investigation into alleged fictitious transactions between Cochin Minerals and Rutile Ltd (CMRL) and her now-defunct One Person Company, Exalogic Solutions Pvt Ltd.
Veena arrived at the ED office around 10:30 am. Her husband, Beypore MLA P.A. Mohamed Riyas, accompanied her to the premises in the morning and left after dropping her off. He returned in the evening to pick her up. Questioning concluded around 8 pm, and she departed the office around 8:30 pm. Heavy police deployment was maintained around the ED zonal office throughout the day to ensure security and maintain law and order.
This was Veena’s second round of personal questioning in the case. She had earlier appeared before the agency on June 17 for nearly eight to ten hours. The fresh interrogation on June 25 was necessitated after the ED obtained 134 key documents from the Serious Fraud Investigation Office (SFIO) under the Ministry of Corporate Affairs. These records, which include agreements between Exalogic Solutions and CMRL, a detailed transcript of Veena’s previous statement, income tax returns, and other financial documents, formed the core of Thursday’s questioning.
The probe originates from an SFIO prosecution complaint filed in April 2025 before a special court in Ernakulam. The SFIO alleged that CMRL had transferred ₹2.78 crore to Exalogic Solutions as monthly retainers or for IT-related services between 2016 and 2021. These payments were reportedly booked as expenses and placed before the Income Tax Interim Settlement Board. The SFIO claimed that no genuine services were rendered in return, terming the transactions fictitious. The broader investigation also revealed that CMRL allegedly booked fictitious cash expenses amounting to nearly ₹182 crore over 15 years, purportedly to facilitate payments to various individuals.
Under the Prevention of Money Laundering Act (PMLA), the ED is examining the money trail, possible layering of funds, and whether the transactions involved proceeds of crime. During the first round of questioning on June 17, the agency specifically asked Veena about the ₹2.78 crore payments received from CMRL and loans worth ₹50 lakh extended to Exalogic by Empower India Capital Investments Pvt Ltd (EICIPL), a firm operated by CMRL Managing Director S.N. Sasidharan Kartha’s family. The ED pointed out that Exalogic failed to make timely repayments despite receiving the funds.
Following the June 17 session, ED officials inspected bank lockers belonging to Veena at an HDFC Bank branch in Thiruvananthapuram on June 19. The agency has also questioned several other individuals linked to CMRL, including Saran S. Kartha (Joint Managing Director), Shiby S. Kartha, Jaya S. Kartha, and other senior officials and employees.
ED searches were conducted on May 27, 2026, at the premises of CMRL, Exalogic Solutions, and properties connected to Veena and her family, including Pinarayi Vijayan’s residence. The latest round of questioning assumes significance as it comes after the ED gained access to the voluminous SFIO records following a court order.
Sources close to the investigation indicated that Veena may be required for further questioning in the coming week, even though a summons had earlier been issued for June 29. The agency is understood to be piecing together the financial trail using the newly accessed documents.
The case has drawn considerable attention due to the involvement of a prominent listed company like CMRL and the political background of the key individuals under scrutiny. The ED’s sustained focus on the matter underscores its efforts to thoroughly investigate allegations of large-scale financial irregularities and money laundering.
