Kerala Money Laundering Probe: CMRL MD's Wife, Son Questioned by ED
Kerala Money Laundering Probe: CMRL MD's Wife, Son Questioned by ED
Explosive money laundering probe heats up in Kerala! ED questions CMRL MD's wife and son in a case involving former CM's daughter. Get the full details here!
KOCHI: The Enforcement Directorate (ED) is intensifying its investigation into a significant money laundering case in Kerala, recently questioning the wife and son of CMRL Founder Sasidharan Kartha. This development is part of a broader probe that also implicates Veena T, daughter of former Kerala chief minister Pinarayi Vijayan.
Sasidharan Kartha’s son, Sharan S Kartha, who is the managing director of CMRL, and his wife, Jaya Kartha, a director on the company's board, appeared before the ED office in Kochi on Tuesday morning. Their questioning follows that of Sasidharan Kartha’s daughter, Shiiby Kartha, who was interrogated by the agency on Monday. The ED has also issued summons to Veena T, asking her to appear for questioning on June 17.
The probe centers on allegations that Cochin Minerals and Rutile Limited (CMRL) made payments totaling ₹2.78 crore to Exalogic Solutions Private Limited, a company owned by Veena T, without receiving any legitimate services in return. Furthermore, the agency is investigating Empower India Capital Investments Private Limited (EICPL), another firm associated with the Kartha family and operated by Sasidharan Kartha. EICPL is alleged to have extended loans worth ₹50 lakh to Exalogic, despite the latter's reported failure to make timely repayments.
The ED's case, registered under the Prevention of Money Laundering Act (PMLA), stems from a prosecution complaint filed by the Serious Fraud Investigation Office (SFIO) before a court in Ernakulam in April 2025. The SFIO, the investigative arm of the Ministry of Corporate Affairs, initiated its probe into CMRL's affairs following findings by the Income Tax Department. CMRL initially came under the scanner of central agencies after an Income Tax Department raid in January 2019, which reportedly uncovered irregularities, including suspicious expenses amounting to approximately ₹130 crore, suspected to be fictitious. The ED alleges that through these transactions, the management of CMRL and Veena T generated “proceeds of crime.”
