ED files money laundering case against Veena Vijayan and her IT company
- In Reports
- 12:57 PM, Mar 28, 2024
- Myind Staff
The ED has filed a money laundering case against Veena Vijayan, the daughter of Kerala Chief Minister Pinarayi Vijayan, and her IT company, Exalogic Solutions. The case was filed against several individuals in connection with purported illegal payments made by a private mineral firm to Veena Vijayan and her company.
According to sources, the agency has registered the case under the Prevention of Money Laundering Act (PMLA), and it is anticipated that the agency will summon some individuals involved in the matter.
The ED case was initiated following a complaint filed by the Serious Fraud Investigation Office (SFIO). It centres on an Income Tax Department investigation which claimed that Cochin Minerals And Rutile Ltd (CMRL), a private company, made an illicit payment of Rs 1.72 crore to Veena Vijayan’s company between 2018 and 2019. The agency highlighted that the IT firm had not rendered any services to CMRL.
Last month, the Karnataka High Court rejected a petition filed by Exalogic Solutions challenging the investigation launched by the SFIO. The central government's legal representative argued that the case involved serious offences and public interest, warranting an investigation by an agency like the SFIO.
At that time, the government's counsel highlighted that the Income Tax Department's findings revealed that CMRL disbursed Rs 135 crore to political figures, with Rs 1.78 crore directed to Exalogic. Additionally, the Kerala State Industrial Development Corporation (KSIDC), a government entity, holds a 13.4% stake in CMRL. The counsel noted that CMRL had engaged in several questionable transactions.
Image source: Hindustan Times
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