Exalogic-CMRL pay-off case: 10 premises in Kerala and Bengaluru raided, says ED
The Enforcement Directorate (ED) conducted raids on ten premises in Kerala and Bengaluru linked to T. Veena and the Cochin Minerals and Rutile Limited (CMRL) as part of an alleged pay-off investigation. Documents related to investments and bank deposits were seized during the operation. The raids follow previous investigations into money laundering and corporate fraud involving the management of CMRL.
- ▪Raids were conducted on the premises of T. Veena, daughter of Kerala's Leader of the Opposition, and associated individuals in connection with Exalogic Solutions.
- ▪The ED is investigating alleged money laundering and corporate fraud involving CMRL, which had previously come under scrutiny for fake expenses.
- ▪The Kerala High Court upheld the validity of the ED's investigations under the Prevention of Money Laundering Act.
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Raids conducted by the Directorate of Enforcement (ED) on the premises belonging to T. Veena, daughter of Leader of the Opposition Pinarayi Vijayan, and those associated with the Kochi-based Cochin Minerals and Rutile Limited (CMRL), yielded documents pertaining to investments and bank fixed deposits, according to ED sources.Simultaneous raids were conducted across ten locations in Kerala and Bengaluru on Wednesday in connection with an alleged pay-off case involving Exalogic Solutions, a firm owned by Ms. Veena. Premises linked to the management of the CMRL and Ms. Veena in Kannur, Ernakulam, Thiruvananthapuram, and Bengaluru were searched. The seized documents are under examination. Mr. Vijayan’s residence in Thiruvananthapuram was also inspected, as Ms.
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