Kochi: The Enforcement Directorate (ED) is intensifying investigation into the CMRL-Exalogic financial transaction case. The probe is currently focused on Veena Vijayan, daughter of Opposition leader Pinarayi Vijayan, her husband and former minister Mohammed Riyas, and his friends.

The ED is examining in detail whether Veena has stakes in more companies and whether she has been involved in foreign financial transactions. According to the ED’s assessment, there are unexplained aspects to the large sums of money allegedly handled by Veena beyond her reported income. The agency is likely to begin questioning those connected with the case after Onam.

The ED may soon issue notices to Veena, Mohammed Riyas and his friends for questioning. The investigating team is working to gather strong evidence ahead of the questioning. The probe has already been expanded to Kerala and Bengaluru.

During the raids conducted on May 27, the ED recovered some crucial documents containing details of financial transactions. According to the agency, the documents contain details of financial dealings between Veena and Riyas’s friends. The ED has found that they handled transactions worth around Rs 20 crore, beyond their known sources of income.

The ED suspects that internet calls were made using a SIM card and Wi-Fi router registered in the name of another person, Nandulal, in an attempt to evade investigation. The agency is also moving to register a FEMA case, in addition to the existing PMLA case, in connection with alleged transfer of money abroad.

The investigating team also obtained information about possible hawala links during a raid in Kozhikode. The ED is examining the sources of income and assets of Mohammed Riyas’s friends, as well as the various phones and SIM cards they used.

During the raid at Veena’s residence, the ED found details of an entity called Laker India Corporation. Though the documents describe it as a company dealing in medical equipment, the ED believes it is a shell company. The agency has frozen around Rs 15 lakh held in the company’s bank account.

The ED suspects that a portion of the Rs 2.78 crore received by Veena from CMRL may have been transferred to Laker India’s account. In addition, the agency has frozen around Rs 1 lakh in Veena’s personal account and Rs 25,000 in Exalogic’s account. The ED is also collecting Veena’s balance sheets and other financial records for the past 15 years.