Published Jun 18, 2026 | 8:37 AM ⚊ Updated Jun 18, 2026 | 8:37 AM
T Veena.
Synopsis: The Enforcement Directorate subjected former Kerala chief minister Pinarayi Vijayan’s daughter T Veena to over eight hours of questioning in the alleged CMRL-Exalogic financial transactions case, focusing on consultancy payments worth ₹2.78 crore and related fund flows. Her statements will now be cross-verified with documentary and digital evidence to determine the next course of the money-laundering probe.
The Enforcement Directorate (ED) on Wednesday, 18 June, completed an extensive round of questioning of T Veena, owner of the now-defunct Exalogic Solutions Private Limited and daughter of former Chief Minister Pinarayi Vijayan, in connection with the alleged financial dealings between Exalogic and Cochin Minerals and Rutile Limited (CMRL).
Investigators are expected to scrutinise her statements alongside documentary and digital evidence already collected before deciding on the next phase of the probe, including the possibility of issuing fresh summonses.
Veena appeared before the ED’s Kochi zonal office in Kadavanthra shortly after 10 am and was questioned for more than eight hours. She was accompanied to the office by her husband, Beypore MLA PA Mohammed Riyas.
Veena left the office around 8 pm without making any comments to the media.
The appearance came after she failed to attend an earlier summons issued for 12 June, citing health concerns. The ED had rejected her request to allow legal representatives to submit documents on her behalf and subsequently directed her to appear in person.
According to sources, investigators questioned Veena primarily on payments amounting to ₹2.78 crore received by Exalogic from CMRL between 2017 and 2020 under the heads of information technology and marketing consultancy services. The agency reportedly sought detailed explanations regarding the nature of the services rendered and supporting records relating to the transactions.
Also Read: Kerala HC seeks sealed-cover report on Arshid death probe, flags child protection lapses
The ED’s line of questioning was based on materials gathered during previous searches, digital evidence recovered during the investigation, and documents forming part of the 57-volume prosecution complaint filed by the Serious Fraud Investigation Office (SFIO).
The probe agency is examining allegations that Exalogic received payments from CMRL despite the absence of any corresponding services. The SFIO, which had conducted a separate investigation into the matter, concluded that no software development or consultancy work had been carried out by the company in exchange for the payments.
Investigators also sought clarifications regarding a ₹50 lakh loan received by Exalogic from Empower India Capital Investments Private Limited (EICPL), a firm linked to the family of CMRL Managing Director SN Sasidharan Kartha. The agency is assessing whether funds originating from CMRL were routed through associated entities and subsequently used to settle private financial obligations.
The questioning of Veena follows a series of interrogations conducted by the ED this week.
On Monday, officials examined Shiby S Kartha, daughter of Sasidharan Kartha. On Tuesday, the agency questioned CMRL Joint Managing Director Saran S Kartha and Jaya S Kartha, a director of EICPL and wife of Sasidharan Kartha.
The ED is investigating the case under the Prevention of Money Laundering Act (PMLA) in connection with alleged financial irregularities emerging from an SFIO investigation into what has been described as a ₹182-crore network of suspected fictitious expenditure. As part of the probe, the agency has already frozen ₹18.36 crore spread across 242 bank accounts believed to be linked to the alleged proceeds of crime.
Officials indicated that Veena’s deposition will now be examined in conjunction with statements recorded from other individuals connected to the case. Any inconsistencies, corroborative evidence, or fresh leads emerging from this exercise are expected to determine the agency’s future course of action, including whether further questioning or additional investigative measures become necessary.
Also Read: ED questions T Veena in CMRL-Exalogic case
The ED’s probe into the alleged CMRL pay-off case gathered momentum this week, with multiple members of the Kartha family being questioned in Kochi ahead of the interrogation of Veena.
The questioning began on Monday when Shiby S Kartha. Shiby is a director in a company linked to CMRL and was reportedly questioned about the financial dealings between the mining company and Exalogic Solutions.
Investigators are examining allegations that CMRL transferred ₹2.78 crore to Exalogic between 2017 and 2021 under the guise of consultancy payments, despite there being no evidence of services having been rendered. As part of the probe, the ED had sought documents relating to transactions between the two entities and issued notices to senior CMRL officials, including members of the Kartha family.
The next phase of questioning unfolded on Tuesday, when Saran S Kartha, Joint Managing Director of CMRL and son of Sasidharan Kartha, appeared before ED officials.
Jaya S. Kartha, a director of Empower India Capital Investments Pvt. Ltd. (EICPL), was also questioned.
Sources indicated that Saran arrived carrying a trolley bag containing records sought by investigators. The ED is understood to have demanded financial documents covering nearly 15 years of the company’s operations.
The agency’s investigation draws heavily from findings reportedly unearthed by the SFIO, which alleged that CMRL generated fictitious cash expenses amounting to ₹182 crore over 15 years. These funds were allegedly used for pay-offs and other unauthorised transactions. The SFIO also flagged payments of around ₹91 crore made towards transport services to firms linked to Sasidharan Kartha.
Investigators are further examining the role of EICPL, which allegedly extended loans totalling ₹50 lakh to Exalogic despite repeated repayment defaults.
The ED maintains that the payments made to Exalogic were among the questionable expenditures identified during the investigation. The agency suspects that the consultancy arrangement may have been used to channel funds without any corresponding business activity.
The latest round of questioning comes weeks after the ED conducted searches at the residences linked to Pinarayi Vijayan in Kannur and Thiruvananthapuram, as well as at CMRL’s offices, in connection with the ongoing money-laundering investigation.
(Edited by Muhammed Fazil.)
