Published Jun 19, 2026 | 6:14 PM ⚊ Updated Jun 19, 2026 | 6:14 PM
The search comes days after Veena was questioned by the agency in Kochi for eight hours.
Synopsis: The Enforcement Directorate inspected a bank locker linked to T Veena, daughter of Kerala Leader of Opposition Pinarayi Vijayan, as part of its investigation into the Exalogic-CMRL case. The inspection followed more than eight hours of questioning on 17 June. Vijayan downplayed the significance of the search, while the ED has not disclosed whether any material was recovered from the locker.
The Enforcement Directorate (ED) on Friday, 19 June, inspected a bank locker linked to T Veena, daughter of Leader of the Opposition in the Kerala Legislative Assembly Pinarayi Vijayan, as part of its ongoing investigation into the financial transactions between Exalogic Solutions and Cochin Minerals and Rutile Limited (CMRL).
The search, conducted under tight security at an HDFC Bank branch near the Ayurveda College in Thiruvananthapuram, came days after Veena was questioned by the agency in Kochi regarding payments received by her company from CMRL.
ED officials arrived at the bank in the morning and carried out a detailed examination of the locker after completing a prolonged round of questioning at the agency’s Kochi office on 17 June.
The questioning lasted more than eight hours and focused on payments amounting to ₹2.78 crore received by Exalogic from CMRL between 2017 and 2020.
Veena at HDFC Bank on Friday
According to officials familiar with the investigation, the agency sought explanations regarding the consultancy and information technology services that Exalogic allegedly provided to CMRL in return for the payments.
Investigators are understood to have examined records, digital evidence and documents gathered during previous searches while recording Veena’s statement.
Sources indicated that the decision to inspect the locker was taken after investigators reviewed information obtained during the questioning and an examination of banking records.
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Pinarayi Vijayan downplayed its significance, saying the contents of the locker alone would determine whether there was anything noteworthy.
“One would know if there are any surprises after opening the locker. Some are trying to create the impression that something big is happening,” he added.
The ED has already frozen 242 bank accounts linked to individuals and entities under scrutiny in the case, with deposits amounting to approximately ₹18.36 crore.
Veena’s bank account was among those subjected to restrictions as part of the probe.
Central Police Force in front of the HDFC Bank
The agency has not disclosed whether any material was recovered from the locker.
Central Reserve Police Force personnel provided security during the operation, which lasted more than two hours.
Officials completed the inspection and left the premises shortly after noon.
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The ED’s investigation, being conducted under the Prevention of Money Laundering Act (PMLA), stems from findings made by the Serious Fraud Investigation Office (SFIO) during its examination of CMRL’s financial affairs.
The SFIO alleged that Exalogic received payments from CMRL despite there being no evidence that software development, consultancy or other services were delivered in return.
The findings formed part of a wider investigation into what has been described as a network of suspected fictitious expenditure involving around ₹182 crore.
Apart from the ₹2.78 crore transactions, investigators are also examining a ₹50 lakh loan received by Exalogic from Empower India Capital Investments Private Limited (EICPL), a company linked to the family of CMRL Managing Director SN Sasidharan Kartha.
The ED is assessing whether funds originating from CMRL were routed through associated entities before being used for private financial purposes.
The questioning of Veena followed a series of interrogations involving other individuals connected to the case.
Over the past week, ED officials recorded statements from members of the Kartha family, including Shiby S Kartha, CMRL Joint Managing Director Saran S Kartha, and Jaya S Kartha, a director of EICPL.
