On Wednesday, 27th May, the Enforcement Directorate (ED) carried out raids at the residence of former Kerala Chief Minister Pinarayi Vijayan, including 10 locations across Kerala, in connection with the Cochin Minerals and Rutile Limited (CMRL) money laundering case.
According to officials quoted by ANI, the searches were linked to the ED’s ongoing investigation into financial irregularities involving CMRL and Exalogic Solutions Pvt Ltd, a company owned by Vijayan’s daughter T Veena. The raids came just a day after the Kerala High Court refused to quash the ED probe in the matter.
#WATCH | Kannur: In the Cochin Minerals and Rutile Limited (CMRL) case, Enforcement Directorate (ED) is conducting searches at 10 premises in Keralam, including the residences of former Chief Minister and present LoP Pinarayi Vijayan. https://t.co/5KYJNnClr8 pic.twitter.com/nNu8sDcjMU
— ANI (@ANI) May 27, 2026
The agency also searched the residence of former minister and MLA PA Muhammad Riyas in Kozhikode. Riyas is Veena’s husband.
Allegations linked to payments made to Veena’s company
CMRL, a Kerala-based company involved in manufacturing synthetic rutile and industrial chemicals, has been under investigation over allegations of bribery and money laundering. The controversy mainly revolves around claims that Exalogic Solutions received large amounts of money from CMRL without providing any actual services in return.
Thiruvananthapuram, Keralam: Senior CPI(M) Politburo member and former Chief Minister Pinarayi Vijayan came under the scanner of the Enforcement Directorate (ED) after central agency sleuths arrived at his Thiruvananthapuram residence in connection with the CMRL-Exalogic monthly… pic.twitter.com/Gc5lDIOG3W
— IANS (@ians_india) May 27, 2026
Though Pinarayi Vijayan himself has not been named as an accused in the case, the allegations have sparked a huge political debate in Kerala. The issue gained further attention because the Kerala State Industrial Development Corporation reportedly held a 13.4 per cent stake in CMRL.
The controversy first came to light in August 2023 after reports claimed that Exalogic Solutions had received ₹1.72 crore from CMRL between 2017 and 2020 despite not offering any services. Following the reports, the Centre directed the Serious Fraud Investigation Office (SFIO) to launch a detailed investigation.
SFIO complaint and fraud charges
In its 160-page prosecution complaint, the SFIO named T Veena, CMRL Managing Director Sasidharan Kartha and 25 others as accused. Several companies, including CMRL, Exalogic Solutions and its subsidiary Empower India Capital Investments, were also named in the complaint.
According to the SFIO, Veena’s company received a total of ₹2.70 crore from CMRL. Separately, the Income Tax Interim Settlement Board stated in 2023 that Rs 1.72 crore had been paid to the company, citing statements made by CMRL employees.
In April 2025, the Union Ministry of Corporate Affairs approved prosecution proceedings against Veena in the illegal payment case. She has been charged under Section 447 of the Companies Act, 2013, which deals with corporate fraud. The law provides for imprisonment of 6 months to 10 years, along with fines that may extend up to 3 times the amount involved in the fraud.
