Kochi: The Enforcement Directorate’s (ED) money laundering probe into the CMRL–Exalogic monthly payment case has entered a decisive phase, with former Chief Minister and Leader of the Opposition Pinarayi Vijayan and his daughter Veena T facing mounting legal pressure following crucial statements made by CMRL Managing Director Sasidharan Kartha.
The ED is preparing to take the investigation to its next stage, with indications that Veena could soon be arraigned as an accused under the Prevention of Money Laundering Act (PMLA).
Investigators are also expected to summon Pinarayi Vijayan for questioning as they examine the circumstances under which CMRL allegedly made payments to Veena’s IT firm, Exalogic Solutions.
The case has gathered momentum after Sasidharan Kartha reportedly told the ED that the contract was awarded to Exalogic solely because of his close relationship with then Chief Minister Pinarayi Vijayan and the influence he wielded.
Kartha is also understood to have informed investigators that neither Veena nor Exalogic had rendered any services to CMRL despite receiving payments.
The statement, considered a key piece of evidence by the ED, was reportedly recorded during Kartha’s questioning at his residence in April 2024.
Investigators believe the testimony provides a crucial link in establishing that the payments were allegedly made without any corresponding services, significantly strengthening the agency’s money laundering case.
Based on these findings, the ED has initiated extensive attachment proceedings and submitted a detailed report before the Adjudicating Authority under the PMLA.
The agency has frozen deposits worth Rs 16.5 lakh belonging to Veena, including funds held in her personal name and through companies linked to her.
Another Rs 15.5 lakh has also been frozen.
Her bank locker has likewise been brought under attachment proceedings.
The investigation also revealed that Veena’s personal bank account contained only Rs 1.37 lakh, while Exalogic’s bank account had a balance of just Rs 27,585 at the time of verification.
Despite the relatively small balances, the ED believes the attachment of deposits and locker contents is essential to preserve evidence relating to the alleged proceeds of crime.
The agency has also frozen assets and financial investments worth Rs 26 crore belonging to Sasidharan Kartha and members of his family as part of the same investigation.
With Kartha’s statement forming the backbone of the ED’s case, investigators believe they now have a stronger legal basis to name Veena as an accused and to examine whether the payments made by CMRL were linked to any undue political influence.
Once the Adjudicating Authority clears the attachment proceedings, the ED is expected to intensify the probe, with notices for further questioning likely to be issued in the coming days, including to former Chief Minister Pinarayi Vijayan.
All along, the CPI-M and Vijayan have flatly denied any wrongdoing, and now, in the coming weeks, things will become clearer, and all eyes are on the ED.
Shaun George, the state BJP vice president and petitioner, said things are very clear now and he was sure that a big crime has been committed.
Meanwhile, former Minister P.A. Mohammed Riyas, husband of Veena, also a CPI-M legislator, reacting to the news of the ED developments, said he is not aware of anything and is unable to comment.
(IANS)
