Kochi, August 19, 2026 (Yes Punjab News)
The Enforcement Directorate’s (ED) latest findings in the CMRL-Exalogic case have intensified scrutiny of Veena Vijayan, daughter of CPI-M leader and former Kerala Chief Minister Pinarayi Vijayan, with the agency claiming to have recovered handwritten records detailing financial transactions worth more than Rs 20 crore, including an alleged transfer of Rs 85 lakh to Dubai.
The ED said its investigation has uncovered material indicative of suspected hawala transactions and financial dealings that allegedly exceeded Veena Vijayan’s known income. The agency also said it recovered digital evidence concerning a SIM card allegedly obtained in another person’s name and suspected to have been used with a Wi-Fi router for internet-based calls.
The findings were disclosed in an ED statement following searches at nine locations in Kozhikode on August 18. The searches form part of the agency’s money-laundering probe arising from the Serious Fraud Investigation Office (SFIO) investigation into alleged corporate fraud and bribery involving Cochin Minerals and Rutile Limited (CMRL).
A key piece of evidence cited by the ED is a handwritten diary recovered during searches conducted on May 27 at premises linked to Veena Vijayan and CMRL promoters. According to the agency, the diary contains names of individuals who allegedly handled money, expenditure details and transfers to Dubai, with entries recorded in Indian rupees and UAE dirhams.
The ED said one entry showed a transfer of AED 3.49 lakh, equivalent to around Rs 85 lakh, to Dubai. The handwritten records allegedly document transactions totalling approximately Rs 20.05 crore in Indian currency. The agency has taken the records into custody.
The investigation is linked to allegations that Exalogic Solutions, owned by Veena Vijayan, received Rs 2.78 crore from CMRL without providing IT services, with the payments allegedly shown as IT consultancy fees. The case stems from an SFIO prosecution complaint filed in April 2025.
The ED has also referred to a Rs 50 lakh loan extended to Exalogic by Empower India Capital Investment Private Limited, a company operated by CMRL Managing Director S.N. Sasidharan Kartha, despite alleged delays in repayment.
The latest findings are expected to revive political questions surrounding the controversy and the repeated defence mounted by Pinarayi Vijayan, Veena Vijayan, her husband and former Minister P.A. Mohammed Riyas and the CPI-M.
However, the ED’s allegations have not resulted in a final judicial determination of guilt, and the matter remains under investigation and subject to legal proceedings.
Meanwhile, Kerala Pradesh Congress Committee President and state Electricity Minister Sunny Joseph said the ED findings were serious and demanded an explanation from Pinarayi Vijayan and the CPI-M.
“The documented findings made by the ED against Veena Vijayan are extremely serious,” Joseph said.
He alleged that the latest findings showed that the explanations offered by the CPI-M so far were not supported by facts and called for a “factual and honest” investigation.
Joseph also demanded that Pinarayi Vijayan and the CPI-M respond to the ED’s findings concerning the alleged financial transactions involving Veena Vijayan.
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