The Enforcement Directorate has questioned CMRL General Manager Manohardas as part of its money-laundering investigation into alleged financial transactions involving Cochin Minerals and Rutile Ltd and Exalogic Solutions. The questioning comes as the agency works towards completing the first phase of its probe and is expected to file a first chargesheet. Investigators are examining company records, financial statements, transaction trails and auditor-related information. Separately, an ED report seeking legal action against several individuals remains under review, with the allegations yet to be established in court.
CMRL Money-Laundering Probe: ED Questions General Manager as First Chargesheet Nears
The Enforcement Directorate (ED) has stepped up its probe into the alleged financial transactions of Cochin Minerals and Rutile Ltd and Exalogic Solutions, with senior officials being grilled ahead of a likely first chargesheet.
The Enforcement Directorate (ED) has questioned Cochin Minerals and Rutile Ltd (CMRL) General Manager Manohardas in its ongoing money-laundering investigation into alleged financial transactions between CMRL and Exalogic Solutions. The action comes as the agency is gearing up to file its first chargesheet in the case.
Manohardas appeared before the Enforcement Directorate’s Kochi office on Tuesday and was questioned on issues related to the probe. The questioning is part of a broader effort to wrap up the first phase of probes, officials familiar with the investigation said.
The probe is into alleged financial transactions and suspected irregularities involving CMRL and Exalogic Solutions, a defunct information technology company that was once associated with T Veena. The case has generated much public interest in Kerala on account of its political and legal ramifications.
ED Expands Examination of CMRL Officials and Auditors
In recent weeks, the Enforcement Directorate has widened its probe, looking into a few people linked to the CMRL. Investigators are poring over financial records and trails of transactions, and company officials have reportedly been called in for questioning.
The questioning of top company officials comes after the agency probes into CMRL’s auditors. Last week, auditors were called in and questioned about financial transactions and alleged irregularities in the company's operations.
Investigators are said to be reviewing documents, financial statements, and other records as part of efforts to trace the flow of funds and determine whether any violations of anti-money-laundering laws occurred.
Sprouts News Says - The agency’s recent actions indicate that the investigators are getting closer to completing an important part of the case before they present their findings to a court in a formal chargesheet.
ED Report Triggers Separate Legal Review in Kerala
In Kerala, the investigation has also triggered a separate legal process, with the Enforcement Directorate filing a report with Director General of Police Ravada A Chandrasekhar under Section 66(2) of the Prevention of Money Laundering Act (PMLA).
In the report, the agency sought registration of cases under the Prevention of Corruption Act and other legal provisions against former Kerala Chief Minister Pinarayi Vijayan, his daughter T Veena, MLA P A Mohammed Riyas and others.
The authorities have yet to make a final decision regarding case registration. The report is still under review, and officials have said legal opinion may be sought before any further action is taken.
The Enforcement Directorate’s findings indicate that Pinarayi Vijayan allegedly received Rs 3.28 crore from CMRL through transactions allegedly routed through Exalogic Solutions. The agency has also levelled allegations against P A Mohammed Riyas and an alleged transfer of funds to Dubai.
The allegations have not, however, been proven in a court of law and no judicial determination has been made on the merits of the claims put forward by the investigating agency.
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Retraction Claims Add New Dimension to Investigation
The probe has also been under the scanner after businessman Hassan Waris, who has been described as a friend of P A Mohammed Riyas, made allegations. Waris filed a retraction affidavit disputing an earlier statement to investigators.
According to the affidavit, Waris said that his statement was not voluntary, and that officials threatened to implicate his daughter in a case if he did not give information against Riyas.
Waris also denied allegations that Riyas had given him money to transfer to Dubai and requested that his earlier statement be withdrawn from consideration.
The Enforcement Directorate has refuted those claims. Agency officials said it is not unusual for people to recant statements during investigations and that such recantations are common in complex financial crime cases.
With questioning still on and legal reviews under way, the focus now shifts to the Enforcement Directorate’s expected first chargesheet, which is likely to set the tone for the next phase of one of Kerala’s most-watched financial investigations.
