CMRL payoff case: ED inspects Veena's bank locker in TVM
Enforcement Directorate officials inspected Veena T's bank locker in Thiruvananthapuram, following her questioning regarding ₹2.78 crore received from CMRL for IT consultancy. A loan was also provided to her company, Exalogic.
Enforcement Directorate officials inspected Veena T's bank locker in Thiruvananthapuram, following her questioning regarding ₹2.78 crore received from CMRL for IT consultancy. A loan was also provided to her company, Exalogic.
Enforcement Directorate officials inspected Veena T's bank locker in Thiruvananthapuram, following her questioning regarding ₹2.78 crore received from CMRL for IT consultancy. A loan was also provided to her company, Exalogic.
Two days after Veena T, daughter of Opposition Leader Pinarayi Vijayan, was questioned in connection with the CMRL-Exalogic payoff deals, the officials of the Directorate of Enforcement (ED) inspected her bank locker at the HDFC branch, Ayurveda College junction in Thiruvananthapuram on Friday.
CISF personnel were deployed at the branch ahead of the inspection. Veena was also summoned to the branch. The ED is looking into her money trail after she received ₹2.78 crore from the CMRL for IT consultancy services.
A report by the Serious Fraud Investigation Office (SFIO) revealed that Empower India Capital Investments Private Limited (EICPL), a Non-Banking Financial Company incorporated by Sasidharan Kartha, MD of CMRL and his wife Jaya Kartha, extended a loan of ₹25 lakh to Veena's now-defunct company Exalogic on July 5, 2015. The payment was transferred to an HDFC account the next day.
Although Exalogic did not make any repayment towards this loan, the EICPL sanctioned another loan of ₹25 lakh to Exalogic, which was disbursed on July 29, 2016, into the same HDFC bank account.
Veena was interrogated on June 17 for over 8 hours in connection with the probe into the money laundering charges against the CMRL. The SFIO had accused Veena of corporate fraud.
The ED has recently obtained documents submitted by the SFIO as part of the probe following a favourable court order. Hours before the inspection, the bank premises were cordoned off by the CISF personnel, anticipating any kind of protests from the CPM workers.
The ED officials faced stone-pelting and an attack on their vehicles when the rented residence of Pinarayi Vijayan was raided in May after the HC upheld the contentions of the ED to initiate a probe against the CMRL. The CPM has distanced itself from the investigation and leaders have said that Veena will face the ED probe.