Kochi: According to Enforcement Directorate (ED) sources, the investigation into the CMRL-Exalogic financial transactions case will not be limited to T Veena, daughter of former Kerala Chief Minister Pinarayi Vjayan. The probe is expected to widen to include all those who allegedly received money from CMRL, with indications that it could even reach members of the present cabinet. ED officials are closely examining all financial dealings linked to CMRL, with the primary focus on tracing the “money trail” — where the funds eventually went. Apart from T Veena and Exalogic, other prominent persons who allegedly received money are also likely to come under scrutiny.

ED sources say the raids conducted at the former Chief Minister’s residence, were only the beginning. Internal notes linked to the agency reportedly indicate that all beneficiaries of payments from CMRL will be investigated. Authorities believe fake expenditure worth ₹132 crore and fictitious transactions amounting to nearly ₹182 crore took place through CMRL. The ED is treating these as “proceeds of crime.” The agency has reportedly concluded that payments made to Exalogic for non-existent services were improper.

Sources indicate that as all financial transactions related to CMRL come under examination, investigators will also probe who received money and for what purpose. After legal hurdles were cleared through a court order, the ED carried out extensive raids at around 12 locations. Investigative agencies point out that CMRL is a publicly listed company and that KSIDC holds a stake in it. Therefore, they argue, there are strict norms regarding the use and allocation of funds, and these appear to have been violated.

The ED is focusing on tracing where the money went. Officials maintain that payments from CMRL to Exalogic were made for services that did not exist, which they consider improper. The agency believes similar transactions were made to several others as well. If money was diverted to multiple individuals without legitimate justification, investigators believe it could amount to a major financial crime. Further inspections and legal action are likely as part of the continuing probe.

Meanwhile, Chief Minister VD Satheesan has remained silent in the face of growing questions over the issue. Political circles are also discussing the contrast between his earlier stand on the issue while he was Leader of the Opposition and his current silence. Indications are that the ED’s moves could trigger major political developments in Kerala in the coming days, as the case gains increasing political and legal significance.