Published Jun 02, 2026 | 5:08 PM ⚊ Updated Jun 02, 2026 | 5:08 PM
It has been alleged that CMRL had paid nearly ₹1.72 crore between 2017-18 and 2018-19 to Exalogic, owned by T Veena.
The Directorate of Enforcement (ED) is unlikely to issue fresh summons to T Veena in the CMRL-Exalogic pay-off case until Friday, 5 June.
A decision in this regard was made after the central agency’s Kochi unit discussed the matter with the ED headquarters.
Veena, the former managing director of the now-defunct Exalogic Solutions Private Limited, is the daughter of Kerala’s Opposition leader and CPI(M) veteran Pinarayi Vijayan.
The ED had on 27 May searched locations linked to Veena and Cochin Minerals and Rutile Limited (CMRL) in Kerala and Bengaluru.
The inspected properties included Vijayan’s residences in Thiruvananthapuram and Kannur, and the residence of Veena’s husband, MLA and former minister Muhammed Riyas, in Kozhikode.
However, the raids were projected as an attempt to corner Vijayan, while pushing the case against Veena to the back seat.
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Earlier on Tuesday, 2 June, ED officials were reportedly confused over summoning Veena. However, after consulting higher officials, it was decided not to issue one for now.
The decision came a day after the Division Bench of the Kerala High Court reserved its verdict in the appeal seeking an interim stay on the ED investigation into the financial dealings of CMRL.
The judgement is likely on Friday, 5 June.
The court directed the parties concerned to maintain the status quo until Friday and observed that no action or proceedings that could alter the existing situation should be initiated before the judgement.
The ED’s decision to refrain from summoning Veena was in light of the court’s directive.
The Division Bench comprising Justice Raja Vijayaraghavan V and Justice KV Jayakumar, who took up the matter, indicated that it was not inclined to grant any interim relief.
Senior Advocate Sidharth Luthra, appearing for CMRL, and Additional Solicitor General ARL Sundaresan, representing the ED, informed the court that they were prepared for the final hearing.
Accepting the submissions of both sides, the Division Bench decided to proceed with the final hearing of the appeal. The temporary relief applies only to CMRL.
Luthra argued that the ED could not proceed without a registered predicate offence.
However, the court observed that the agency appeared to have sufficient grounds to examine possible money laundering allegations and sought relevant documents from the company.
The case is linked to the alleged monthly payment controversy involving Exalogic.
It has been alleged that CMRL had paid nearly ₹1.72 crore between 2017-18 and 2018-19 to Exalogic under agreements related to software development, management and consultancy services.
However, it was also alleged that Exalogic received the money despite not rendering any service to CMRL.
Officials said that the ongoing investigation extended beyond transactions involving Exalogic and also covered suspicious financial dealings worth ₹182 crore linked to CMRL.
