Exalogic-CMRL pay-off case: ED conducts simultaneous raids in Kerala’s Ernakulam
The Enforcement Directorate (ED) conducted simultaneous raids in Kerala following a court's approval to investigate alleged financial transactions involving Exalogic Solutions and Cochin Minerals and Rutile Limited (CMRL). The raids targeted multiple locations, including the residences of key individuals linked to the case. This investigation stems from a report indicating significant payments made to Ms. Veena and her company without evidence of services rendered, raising political controversy in the state.
- ▪The ED launched raids across Kerala and Bengaluru on May 27, 2026, after the Kerala High Court allowed an investigation into financial transactions involving Exalogic Solutions and CMRL.
- ▪Raids were conducted at various locations, including the corporate office of CMRL and the residences of its managing director and other officials.
- ▪The controversy began after an Income Tax report revealed that Ms. Veena received ₹1.72 crore from CMRL over three years without evidence of services, leading to allegations of political corruption.
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A day after the Kerala High Court granted permission to probe the alleged financial transactions between Exalogic Solutions, a firm owned by former Chief Minister Pinarayi Vijayan’s daughter T. Veena, and Cochin Minerals and Rutile Limited (CMRL) in the alleged pay-off case, the Enforcement Directorate (ED) launched a series of simultaneous raids across the State and beyond on Wednesday (May 27, 2026) morning.The raids by officials from the Kochi zonal office of the ED commenced around 7 a.m. The agency obtained the High Court order dismissing CMRL’s plea to quash the case on Tuesday around 8 p.m. and hastily planned the raids thereafter.
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