Veena T Appears Before Enforcement Directorate for Questioning Over Financial Case
Veena T, daughter of former CM Pinarayi Vijayan, appeared before the Enforcement Directorate in Kochi. The questioning concerns a PMLA probe into alleged non-existent consultancy services provided by her defunct firm, Exalogic Solutions, involving payments from Cochin Minerals and Rutiles Ltd.
Highlights
- •Veena T appeared before the Enforcement Directorate in Kochi for questioning.
- •The investigation focuses on alleged illicit financial transactions involving Exalogic Solutions and CMRL.
- •Authorities are probing a Rs 2.78 crore payment for services allegedly not rendered.
- •The agency is also examining a Rs 50 lakh loan provided to Exalogic by EICPL.
Veena T, the daughter of former Chief Minister Pinarayi Vijayan, has officially appeared before the Enforcement Directorate (ED) in Kochi. The appearance follows an ongoing investigation into financial irregularities involving her former IT firm, Exalogic Solutions Pvt Ltd. This high-profile Enforcement Directorate questioning is being conducted under the Prevention of Money Laundering (PMLA) Act.
The regulatory scrutiny centers on a series of financial transactions between Exalogic Solutions and Cochin Minerals and Rutiles Ltd (CMRL). Federal investigators are examining a payment of Rs 2.78 crore made by CMRL to Veena T's firm. Prior allegations brought forward by the Serious Fraud Investigation Office (SFIO) suggest that these funds were categorized as payments for consultancy and marketing services that were, in reality, never rendered. The probe aims to verify the legitimacy of these service-based payments.
Detailed Investigation Into Financial Transactions
The legal proceedings gained momentum after the Enforcement Directorate rejected Veena T's initial request to postpone her appearance. While she had cited health-related concerns on June 12 and sought permission to submit documentation through legal counsel, the authorities mandated her personal attendance, issuing fresh summons. To assist in the investigation, officials had previously conducted raids at her residence to seize pertinent digital evidence and records.
Beyond the primary payment dispute, the Enforcement Directorate is also analyzing a loan transaction amounting to Rs 50 lakh. This capital was reportedly provided to Exalogic Solutions by Empower India Capital Investment Pvt Ltd (EICPL). Notably, Jaya S. Kartha, a director at EICPL and the spouse of Sasidharan Kartha, has also been brought into the ambit of the inquiry. Both Jaya S. Kartha and her son, Saran S. Kartha, were summoned for questioning regarding the specific nature of this loan and subsequent financial dealings connected to the company.
On the day of the appearance, Veena T arrived at the agency's office accompanied by her husband, Mohammad Riyas, who is a former minister. The interrogation session lasted for several hours as investigators cross-referenced documents and recorded her formal statement. The case remains a focal point of ongoing financial monitoring, as authorities continue to piece together the flow of funds between the involved corporate entities.
