India's Enforcement Directorate seeks SFIO documents in CMRL-Exalogic money‑laundering probe

The Enforcement Directorate (ED) has petitioned a court in Kochi for copies of documents gathered by the Serious Fraud Investigation Office (SFIO) in its investigation of alleged money‑laundering by Cochin Minerals and Rutile Ltd (CMRL). The case centres on payments of about ₹2.78 crore to Exalogic Solutions Private Limited – an IT consultancy owned by Veena T, daughter of former Kerala chief minister Pinarayi Vijayan – which the ED alleges were made without any services rendered. The probe also alleges that CMRL managing director Sasidharan Kartha’s company, Empower India Capital Investments Pvt Ltd, extended loans of ₹50 lakh to Exalogic. The SFIO’s prosecution complaint, filed in April 2025, claims CMRL recorded fictitious cash expenses of ₹182 crore over 15 years and paid ₹91 crore for transportation services to firms linked to the Kartha family. A court on 8 June 2026 permitted the ED to obtain the SFIO documents, after earlier hearings had sought the same access. Searches linked to the case were previously conducted at ten locations, including premises associated with Veena and her husband, former minister P A Mohammed Riyas.