In a significant development, the Kerala High Court declined to stop the Enforcement Directorate’s inquiry into Cochin Minerals and Rutile Limited (CMRL), a case that stirred controversy during former Chief Minister Pinarayi Vijayan’s tenure. Justice T.R. Ravi rejected petitions from CMRL and four senior officials challenging the ED’s probe and the Enforcement Case Information Report (ECIR). The case, though not directly linked to Vijayan, gained political importance due to alleged irregular payments made by CMRL to Exalogic Solutions Pvt. Ltd., owned by Vijayan’s daughter Veena Thaikkandiyil.
The controversy over monthly payments from CMRL to Exalogic, reportedly without services rendered, sparked a political uproar in Kerala. The Opposition accused Vijayan’s family of benefiting from questionable financial transactions, making it a sensitive issue for the government. CMRL and its officials sought to halt the ED proceedings, arguing that the agency lacked jurisdiction under the Prevention of Money Laundering Act.
The petitioners, including CMRL Managing Director S.N. Sasidharan Kartha and other officials, approached the High Court to challenge the ED’s actions. Earlier, three officials alleged illegal detention during questioning by the ED, leading the High Court to order the preservation of CCTV footage from the interrogation. Besides the ED investigation, the Serious Fraud Investigation Office is also looking into the case. The High Court’s recent decision paves the way for the ED to continue its money laundering probe in this high-profile corporate controversy.
