TaxTMI 
TaxTMI 
ED questions CMRL finance chief in Exalogic money laundering probe
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....D questions CMRL finance chief in Exalogic money laundering probe<BR>PMLA / Black Money<BR>Dated:- 22-6-2026<BR>PTI<BR>Kochi, Jun 22 (PTI) The ED on Monday questioned the CFO of CMRL as part of its money laundering probe into alleged financial transactions between the company and the now-defunct Exalogic Solutions Pvt Ltd owned by Veena T, daughter of former Kerala Chief Minister Pinarayi Vijayan,....
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.... officials said. Chief Finance Officer Suresh Kumar of mining company Cochin Minerals and Rutile Ltd (CMRL) appeared before the Enforcement Directorate (ED) office in Kochi in the morning. According to ED sources, the questioning is considered crucial as Kumar was responsible for maintaining records of financial transactions between CMRL and Exalogic Solutions. The agency has also summone....
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....d other senior CMRL officials for questioning in the coming days. ED has directed Veena to appear for another round of questioning on June 29, following an initial interrogation session held last week, officials said. The probe relates to allegations that CMRL paid Rs 2.78 crore to Exalogic Solutions Pvt Ltd without receiving any services in return. According to the ED, another company, E....
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....mpower India Capital Investments Private Limited, operated by CMRL Managing Director Sasidharan Kartha, had extended loans worth Rs 50 lakh to Exalogic despite the firm allegedly failing to repay them on time. The agency has alleged that Veena and the management of CMRL generated "proceeds of crime" through these transactions. The ED registered the case under the Prevention of Money Launderi....
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....ng 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, had accused Exalogic and CMRL of entering into an arrangement under which payments were allegedly made without any corresponding services being rendered. CMRL came under the scrut....
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....iny of central agencies following an Income Tax Department search in January 2019, which allegedly unearthed financial irregularities, including suspected fictitious expenditure amounting to around Rs 130 crore. PTI TBA TBA KH =============<BR> News - Press release - PIB....