Kochi, 29 May (H.S.):Cochin Minerals and Rutile Limited (CMRL) has filed an appeal before the Kerala High Court Division Bench challenging a recent single bench order that allowed the Enforcement Directorate (ED) to continue its investigation into the controversial monthly payment case.
In its appeal, the company has sought an immediate stay on the ED probe and requested that the single bench verdict be set aside. CMRL argued that the ongoing investigation by the ED is legally unsustainable because the Serious Fraud Investigation Office (SFIO), functioning under the Union Ministry of Corporate Affairs, is already conducting a detailed probe into the same set of transactions.
According to the company, parallel investigations by two central agencies into the same matter are not legally permissible. CMRL further contended that no offence falling under the provisions of the Prevention of Money Laundering Act (PMLA) has been committed and therefore the ED lacks jurisdiction to investigate the case.
The appeal comes in the wake of extensive raids conducted by the ED following the High Court single bench ruling. In recent days, the central agency carried out searches at the residence of Opposition Leader Pinarayi Vijayan and at the homes and offices of senior company officials as part of its expanding investigation.
Earlier, a single bench of the Kerala High Court headed by Justice T.R. Ravi had dismissed petitions filed by CMRL officials seeking to quash the ED investigation. The court held that it could not interfere with the agency’s probe at the present stage and directed company officials to cooperate fully with the investigation and appear before the ED whenever summoned.
At the centre of the controversy is the allegation that CMRL transferred ₹1.72 crore to Exalogic Solutions, a company owned by Veena Vijayan, daughter of former Kerala Chief Minister Pinarayi Vijayan, without receiving any legitimate services in return. The ED is examining whether the payments were part of a larger financial arrangement that violated anti-money laundering laws.
Sources indicate that the ED is preparing to issue fresh summons to several key individuals, including CMRL Managing Director Sasidharan Kartha, for further questioning. Against this backdrop, the company has approached the Division Bench seeking urgent legal protection from further coercive action.
The appeal is expected to have significant political and legal implications, particularly regarding the ED’s proposed next steps, including the possible questioning of Veena Vijayan. Political circles in Kerala are closely watching whether the Division Bench will intervene and alter the course of the high-profile investigation.
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Hindusthan Samachar / Arun Lakshman
