Veena Vijayan involved monthly payment case: High Court rejects plea to quash ED investigation

KOCHI: The High Court rejected the plea of ​​Cochin Minerals and Rutiles Limited (CMRL) in Aluva to quash the ED investigation in the monthly payment case involving Veena Vijayan, daughter of former Chief Minister Pinarayi Vijayan. The stay on the ED's investigation has been lifted. The ED is investigating the monthly payment case under the Money Laundering Act. CMRL approached the court, questioning the summons sent by the ED and demanding that the investigation be quashed.

As per the allegations, CMRL illegally paid a huge amount to Veena's IT company, Exalogic. The main investigation is into why Rs 1.72 crore was paid without Exalogic providing any IT services. Along with the ED, the Serious Fraud Investigation Office is also investigating the case. Through this investigation, the ED aims to clarify the source of the money, on whose instructions the money was transferred, etc. CMRL argued that since the Serious Fraud Investigation Office is conducting the investigation, an ED investigation is not necessary.

In this case, investigations conducted by the Income Tax Department and the SFIO also found that the service was not provided for the amount transferred. Investigations conducted by the Registrar of Companies in Ernakulam and Bengaluru also found anomalies against Exalogic. The Bengaluru Registrar had also recommended an ED investigation.