Kochi: The Directorate of Enforcement (ED) has initiated an investigation into a money laundering case involving Kerala Chief Minister Pinarayi Vijayan's daughter, T Veena. The case, which was registered by the ED's Kochi office, coincides with an ongoing investigation by the Serious Fraud Investigation Office (SFIO).
The probe is based on reports from the Income Tax Department on Veena's company Exalogic, Kochi-base rutile mining company CMRL and state-owned KSIDC . They also face the ED's scrutiny.
The anti-money laundering agenct had conducted preliminary investigations into the matter before registering an ECIR, or the Enforcement Case Information Report, marking the formal entry of the complaint lodged by the ED.
The ED's focus is primarily on Exalogic, along with CMRL and KSIDC, where financial transactions would be examined thoroughly for any irregularities.
Exalogic has received notices from the SFIO, as per the Companies Act, requiring it to submit transaction documents to the Chennai office by March 15. Failure to comply may result in legal action. SFIO's actions intensified following court orders to investigate petitions filed by Exalogic Solutions and KSIDC. Twelve firms in Kerala have received notices.
As part of the investigation, SFIO scrutinised Exalogic Solutions' bank account details. This led to the issuance of notices under Section 217(2) to summon documents from concerned companies to the Chennai office. The focus of the inquiry is on the nature of transactions with Exalogic.
Transactions to Exalogic through the account of CMRL Managing Director S N Sasidharan Kartha's account from 2016-17 are under scrutiny, with CMRL and Exalogic claiming the payments were for IT-related services. SFIO found that over 10 firms had significant financial dealings with Exalogic during this period. Previous financial transactions flagged by the ED during data collection was forwarded to SFIO.
