Enforcement Directorate (ED) initiated a money laundering case on Wednesday against Veena Vijayan, daughter of Kerala Chief Minister Pinarayi Vijayan, her IT company, and several others.
The case, filed under the Prevention of Money Laundering Act (PMLA), is set to delve into allegations of illicit transactions between Veena Vijayan's company, Exalogic Solutions, and Cochin Minerals And Rutile Ltd (CMRL), a private firm. The ED is expected to summon individuals involved in the case for further inquiry.
The investigation by the ED follows a complaint lodged by the Serious Fraud Investigation Office (SFIO), a unit under the Union corporate affairs ministry.
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The genesis of the case lies in an earlier probe by the Income Tax Department, which purportedly uncovered irregularities suggesting that CMRL made payments totalling Rs 1.72 crore to Exalogic Solutions from 2018 to 2019, despite the absence of any services rendered by the IT firm to CMRL.
In a recent development, the Karnataka High Court dismissed a plea filed by Exalogic Solutions challenging the initiation of the probe by the SFIO.
