Kerala CM’s Daughter in Money Laundering Case: Mining Firm Grants ₹1.72 Crore to Vina Vijayan’s IT Company

On Wednesday, March 27, the Enforcement Directorate (ED) registered a case against Veena Vijayan, the daughter of Kerala Chief Minister Pinarayi Vijayan, for alleged money laundering. The agency stated that a private mineral company, Cochin Minerals and Rutile Limited (CMRL), had paid ₹1.72 crore to Veena’s IT company, Exalogic Solutions, through illegal means.

Following this, ED has also registered cases against her company and several other individuals. The agency will also send notices to those involved in this case. After the complaint by the Serious Fraud Investigation Office (SFIO), ED initiated this case. SFIO is the investigation arm of the Ministry of Corporate Affairs.

Allegations of providing services without payment against Veena and her company

Income Tax authorities are also investigating this matter. It is alleged that CMRL paid ₹1.72 crore to Exalogic Solutions between 2018 and 2019 without receiving any services in return.

In February 2024, the Karnataka High Court dismissed an application filed by Xlogic Solutions seeking to quash the SFIO investigation. The central government’s counsel stated that this case involves serious offenses and public interest, necessitating an investigation by agencies like SFIO.

Government counsel argued that during the income tax investigation, dealings with political officials of CMRL came to light, where ₹1.72 crore was given. Kerala State Industrial Development Corporation (KSIDC) also holds a 13.4% stake in CMRL. Several dealings of the mineral company raise suspicions.

Companies claimed innocently for the payment of ₹1.72 crore

It has been revealed during the investigation that more than 10 companies engaged in financial transactions with Veena’s company during the fiscal year 2016-17. Exalogic and CMRL claimed that Exalogic had received payments from S.N. Karthana’s account, allegedly for IT services provided by CMRL’s Managing Director.

Niyati Rao

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