Published Aug 18, 2026 | 1:07 PM ⚊ Updated Aug 19, 2026 | 11:17 AM
Veena with her husband and former minister Muhammed Riyas.
Synopsis: Sources in Kozhikode told South First that the ED is currently conducting raids at the residence of Nandulal, a DTPC official and native of Kunduparamba, Kozhikode and Nikhil, a DYFI leader. Both are reportedly close to former Tourism Minister and Veena’s husband, PA Mohammed Riyas. The ED is now reportedly seeking further information from individuals close to Riyas, based on evidence and information gathered during earlier raids, including the search conducted at the residence of Pinarayi Vijayan.
The Enforcement Directorate (ED) on August 18 launched its third round of raids in the CMRL-Exalogic financial transaction case involving T. Veena, daughter of Opposition leader Pinarayi Vijayan.
The raids are underway at eight locations across Keralam, mainly in Kozhikode. The searches are being led by an ED Assistant Director.
Sources in Kozhikode told South First that the ED is currently conducting raids at the residence of Nandulal, a DTPC official and native of Kunduparamba, Kozhikode and Nikhil, a DYFI leader.
Both are reportedly close to former Tourism Minister and Veena’s husband, PA Mohammed Riyas.
The ED is now reportedly seeking further information from individuals close to Riyas, based on evidence and information gathered during earlier raids, including the search conducted at the residence of Pinarayi Vijayan.
Further details are awaited.
Also Read: ED inspects T Veena’s bank locker
Sources said the ongoing searches are part of the final stage of the investigation ahead of the filing of charges against the accused.
In the first week of June, the ED summoned T Veena in connection with the case. She appeared at the ED Zonal Office in Kochi on June 17 and faced nearly eight hours of interrogation. Apart from Veena, the ED has already questioned Cochin Minerals and Rutile Ltd. (CMRL) Managing Director Sasidharan Kartha, Joint Managing Director Sharan S Kartha, Chief General Manager KS Suresh Kumar and other company officials.
The investigation concerns allegations that Veena’s firm, Exalogic Solutions, received payments from CMRL without providing corresponding services.
The Kerala High Court had earlier allowed the ED investigation to proceed, dismissing CMRL’s appeal against a single-bench order. The court also clarified that the ED could initiate investigations under the Prevention of Money Laundering Act (PMLA) without requiring an FIR or complaint from another agency.
CMRL’s request for temporary protection from coercive action to approach the Supreme Court was not accepted.
Meanwhile, a special PMLA court recently ordered the Serious Fraud Investigation Office (SFIO) to hand over 134 documents related to the case to the ED.
These include records of financial transactions between CMRL and Exalogic, correspondence, Veena’s statements, interrogation details of CMRL officials, and bank account information.
CMRL had opposed the move, arguing that documents submitted in one investigation could not be used in another. However, the court rejected the objection and ruled that there was no legal issue with sharing the records with the ED as part of its ongoing probe.
Also Read: ED raids residences of former Kerala CM Pinarayi Vijayan, others in CMRL-Exalogic probe
Responding to the raids, CPM state secretary M.V Govindan on Wednesday, August 19, accused the Centre, state government and ED of attempting to tarnish the party’s image through the probe.
Govindan alleged that the ED was deliberately focusing on former minister Riyas and questioning people merely known to him.
He called the move an attempt to create anti-CPM sentiments and accused the agency of targeting CPM leaders while ignoring alleged corruption involving the BJP and Sangh Parivar.
Meanwhile, Riyas said ED raids on people associated with him would not affect his relationships with them. He said they were his acquaintances from college days and that he was ready to face the probe both politically and legally.
Riyas accused the BJP of dangerous politics and said the CPM had decided to politically oppose the ED action.
On financial transactions involving his wife T.Veena, he said all dealings were through bank accounts and taxes had been paid.
Riyas also defended Veena’s business activities, saying she should not be targeted for being the daughter of a political leader.
The searches were part of the ED’s probe into alleged financial irregularities involving CMRL and Exalogic. The case stems from an SFIO investigation that flagged nearly ₹182 crore in suspected fictitious expenditure by CMRL over 15 years. Among the sites raided were premises of Laker India Corp, in which Veena has an investment.
According to Riyas’ election affidavit, Veena has invested ₹5 lakh in KIAL Unlisted, ₹1 lakh in Exalogic and ₹10,94,742 in Laker India Corp.
(Edited by Sumavarsha)
