ED questions CMRL MD, mother in Veena Vijayan-linked money laundering case
Case involves 'payments' to Exalogic Solutions, owned by Veena T; probe focuses on alleged Rs 2.78 crore payments without services rendered.
The Enforcement Directorate (ED) on Tuesday questioned Cochin Minerals and Rutile Limited (CMRL) Managing Director Sharan S. Kartha and his mother, Jaya S. Kartha, in connection with a money laundering case involving the company and former Kerala Chief Minister Pinarayi Vijayan’s daughter, Veena T., officials said.
The duo appeared before the ED office in Kochi in response to summons issued by the agency. Officials said they were carrying a trolley bag.
The agency had on Monday questioned Shiiby Kartha, daughter of CMRL founder Sasidharan Kartha, in connection with the case.
The ED is also probing Sasja India Private Limited and Empower India Capital Investments Private Limited, two other firms associated with the Kartha family.
According to the company’s website, Sharan is the Managing Director, while Jaya serves as a Director on the board of CMRL.
Officials have reportedly directed CMRL to submit financial records spanning the past 15 years. Investigators are said to have collected and examined key documents during the questioning.
According to sources, the agency is now examining not only transactions between CMRL and Exalogic Solutions Private Limited but also the role of related entities, including Nipuna International Pvt Ltd and Empower India Capital Investments Private Limited.
Investigators are also probing loans worth Rs 50 lakh extended by Empower India Capital Investments Pvt Ltd to Exalogic in two instalments, including the reasons a second loan was sanctioned despite an alleged default in repayment of the first.
Veena has been asked to appear before agency officials on June 17 for questioning, officials said.
The ED probe pertains to allegations that CMRL paid Rs 2.78 crore to Exalogic Solutions Private Limited, a company owned by Veena, without receiving any services in return.
The agency is also attempting to map the flow of funds across CMRL, Exalogic and associated companies to determine whether they were used to route financial transactions.
