ED approaches court seeking SFIO documents in CMRL money laundering case
The ED, which is probing a money laundering case linked to CMRL and involving former Kerala Chief Minister Pinarayi Vijayan’s daughter Veena T, has approached a court here seeking access to documents collected by the SFIO during its investigation into the matter.
The Enforcement Directorate (ED) filed a petition before the Special Court for the Prevention of Money Laundering Act (PMLA) in Kochi seeking copies of documents gathered by the Serious Fraud Investigation Office (SFIO), which had investigated alleged “fake” expenses admitted by Cochin Minerals and Rutile Ltd (CMRL) before the Income Tax Settlement Commission.
ED sources said the documents sought by the agency include records related to Exalogic Solutions Private Limited, the company owned by Veena, which was engaged in IT consultancy services. The agency has requested the court to direct the SFIO to provide copies of documents collected during its investigation. The petition is likely to be considered next week.
The ED probe pertains to allegations that CMRL made payments amounting to Rs 2.78 crore to Exalogic Solutions Private Limited without receiving any services in return.
According to the ED, another company, Empower India Capital Investments Private Limited (EICPL), operated by CMRL Managing Director Sasidharan Kartha, had extended loans worth Rs 50 lakh to Exalogic despite the company allegedly failing to make timely repayments.
The agency has alleged that the management of CMRL, led by Kartha, and Veena generated “proceeds of crime” through these transactions.
The ED registered the PMLA case based on a prosecution complaint filed by the SFIO before a court in Ernakulam in April 2025.
The SFIO is the investigation arm of the Ministry of Corporate Affairs. CMRL came under the scanner of central agencies after an Income Tax Department raid in January 2019, which allegedly detected irregularities, including certain expenses suspected to be fictitious and amounting to around Rs 130 crore.
Officials said these expenses were later admitted by CMRL before the Income Tax Settlement Commission, following which a complaint was referred to the SFIO for investigation. In its prosecution complaint, the SFIO alleged that fictitious cash expenses amounting to Rs 182 crore were recorded by CMRL over a period of 15 years. It also alleged that the company paid Rs 91 crore towards transportation services to firms owned by the Kartha family. Last month, the ED conducted searches at 10 locations linked to the case, including premises associated with Veena and former minister PA Mohammed Riyas, who is her husband.
