Kochi, Jul 2 (PTI) The ED on Thursday questioned Anil Ananda Panicker, executive director of CMRL, in connection with its money laundering probe into the alleged financial transactions between the company and Exalogic Solutions Pvt Ltd, owned by former Kerala chief minister Pinarayi Vijayan's daughter Veena T.

Officials said Panicker appeared before the Enforcement Directorate (ED) office here at around 10.30 am.

This is the second time the agency has questioned Panicker, who is the son-in-law of Cochin Minerals and Rutile Ltd (CMRL) founder Sasidharan Kartha, officials said.

The ED has already questioned the directors of CMRL as well as Veena twice in connection with the case.

The probe pertains to allegations that CMRL paid Rs 2.78 crore to Exalogic Solutions Pvt Ltd without receiving any services in return.

According to the agency, Empower India Capital Investments Pvt Ltd (EICPL), operated by Kartha, had also extended loans worth Rs 50 lakh to Exalogic despite the company allegedly failing to repay the amount on time.

The ED has alleged that the management of CMRL and Veena generated "proceeds of crime" through these transactions.

The agency registered a case under the Prevention of Money Laundering Act (PMLA) based on a prosecution complaint filed by the Serious Fraud Investigation Office (SFIO) before a court in Ernakulam in April 2025.

The SFIO, the investigation arm of the Ministry of Corporate Affairs, launched its probe into the affairs of CMRL following findings by the Income Tax Department.

CMRL came under the scanner of central agencies after an Income Tax Department raid in January 2019 allegedly detected irregularities, including suspected fictitious expenditure amounting to around Rs 130 crore. PTI TBA TBA KH

Money laundering probe over alleged CMRL-Exalogic transactions expands under PMLA amid payments without services and loan defaults. Enforcement Directorate questioned the executive director of Cochin Minerals and Rutile Ltd. in a money laundering probe concerning alleged financial transactions between the company and Exalogic Solutions Pvt Ltd. The investigation concerns allegations that CMRL made payments without receiving corresponding services, and that related loan transactions were defaulted, forming the basis for examination of possible proceeds of crime under the Prevention of Money Laundering Act. The case was registered on the basis of a prosecution complaint filed by the Serious Fraud Investigation Office.