CMRL-Exalogic case: ED receives 134 SFIO documents ahead of Veena's June 29 appearance
The Enforcement Directorate (ED) has obtained 134 documents linked to the Serious Fraud Investigation Office's (SFIO) charge sheet in the alleged Cochin Minerals and Rutile Limited (CMRL)-Exalogic Solutions financial transactions case, according to media reports on Wednesday. The records are expected to play a key role in the agency's money laundering investigation into dealings between CMRL and Exalogic Solutions Pvt Ltd, a firm owned by Veena Vijayan (Veena T), daughter of Kerala's former Chief Minister Pinarayi Vijayan. The transfer of the documents follows an order from the Ernakulam Special Court, which oversees corporate crime cases. Although the court had earlier permitted the transfer, administrative delays in obtaining certified copies had briefly slowed the process.
Court clears path for document access
The legal hurdle was cleared after the special court rejected objections raised by CMRL against sharing the records. The ED argued that the 134 documents, originally seized by the SFIO, are essential for questioning those involved in the case. Among the files now in the ED's possession are the formal business agreements between Veena T and CMRL, as well as her personal income tax returns. The development is seen as a significant setback for CMRL, which had attempted to block investigators' access to the paperwork. The agency cited previous legal precedents, including rulings in the Sabarimala matter, to justify its need for the data.
Focus shifts to upcoming interrogations
The acquisition of these documents comes at a critical time, as the ED has directed Veena Vijayan to appear for a second round of questioning on June 29. Investigators reportedly found inconsistencies in her earlier statements and plan to use the newly acquired evidence to seek further clarity. The probe centres on allegations that CMRL paid ₹2.78 crore to Exalogic Solutions for services that were never rendered. Furthermore, another company managed by CMRL's Managing Director allegedly extended a ₹50 lakh loan to Exalogic despite existing repayment defaults.
Last Monday, the ED questioned CMRL Chief Finance Officer Suresh Kumar at its Kochi office. As the person responsible for the company's financial records, Kumar's testimony is viewed as vital to understanding the "proceeds of crime" the agency alleges were generated through these transactions. The investigation stems from a 2019 Income Tax search that allegedly uncovered around ₹130 crore in fictitious expenditures within CMRL. With the SFIO charge-sheet records now in hand, the ED is expected to press senior officials with more specific evidence in the coming days.