Kochi, 25 July (H.S.) :The Enforcement Directorate (ED) is examining the statement of businessman Shashidharan Kartha as part of its ongoing investigation into the alleged financial transactions between Cochin Minerals and Rutile Ltd. (CMRL) and Exalogic Solutions, a company owned by T. Veena, daughter of former Kerala Chief Minister and present Leader of the Opposition Pinarayi Vijayan.

According to Kartha's reported statement, recorded by ED officials during questioning at his residence in April 2024, payments were allegedly made to Veena and her company because of her association with Pinarayi Vijayan. He is also stated to have told investigators that neither Veena nor Exalogic had rendered any services to CMRL in return for the payments.

The allegation that Exalogic did not provide consultancy or other services to CMRL has been a central issue raised by the Opposition since the controversy first surfaced. The ED has been examining financial records, company documents and witness statements as part of its investigation into the matter.

Based on evidence gathered during the probe, the agency has initiated proceedings against Veena. As part of the investigation, the ED reportedly froze a bank account containing ₹16.5 lakh linked to her, while further legal proceedings in the case remain underway.

Veena has been questioned twice by ED officials in connection with the case. Investigators are understood to have found inconsistencies between her statements and those given by officials of CMRL regarding the nature of the consultancy arrangement and the payments made.

During her questioning, Veena is reported to have maintained that services had been provided to CMRL. However, according to investigation sources, she was unable to produce documentary evidence before the ED to substantiate the services allegedly rendered.

The ED investigation into the CMRL-Exalogic transactions is continuing, with the agency scrutinising documentary evidence, financial records and witness testimonies before taking further legal action, if warranted.

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Hindusthan Samachar / Arun Lakshman