look news india
There was a stir in the political circles of Kerala when an Enforcement Directorate (ED) team conducted a thorough search of the bank locker of Veena T., daughter of former Chief Minister Pinarayi Vijayan. This entire action has been taken in the high-profile money laundering (fraud) case related to Cochin Minerals and Rutile Limited (CMRL) and Veena’s now defunct IT company ‘Axalogic Solutions’.
Officials of the Central Investigation Agency reached the branch of HDFC Bank in the state capital Thiruvananthapuram on Friday morning and searched this locker. During this time, Veena T. herself was also present in the bank. While the search was going on, a large number of Central Security Forces personnel were deployed outside the bank for security reasons.
Action right after 9-hour marathon interrogation: Statement was recorded in Kochi office
This major action of ED has come to light at a time when just two days ago, Veena T was asked very tough questions and answers for about 9 hours in the Kochi office of the central agency. In this case registered under the Prevention of Money Laundering Act (PMLA), the investigating officer is matching Veena’s statements and financial documents.
It is being said that ED took the quick decision to open and investigate this bank locker only to connect some important clues and suspicious links found during the long interrogation in Kochi.
What is this whole matter of Rs 2.78 crore? Know the main allegations
This entire matter is related to an alleged financial irregularity. The Enforcement Directorate is deeply investigating why the private mining company ‘Cochin Minerals and Rutile Limited’ (CMRL) had made a huge payment of a total of Rs 2.78 crore to Veena T.’s IT firm ‘Axalogic Solutions’.
According to initial investigation and allegations, these crores of rupees were transferred by CMRL Company to Exalogic without receiving any actual software or IT services. Opposition parties have termed it as a purely illegal transaction in exchange for political protection.
The secret was revealed due to Income Tax Raid of 2019: Case of bogus expenditure of Rs 130 crore
CMRL company first came on the radar of central investigating agencies in January 2019. At that time the Income Tax Department had conducted raids at various locations of this mining company.
That digital and financial investigation by the Income Tax Department had revealed bogus expenditure and unaccounted financial manipulation of about Rs 130 crore in the company’s accounts. Taking the links of this investigation forward, when the bank accounts were scrutinized, suspicious payments made to the company of the former Chief Minister’s daughter were exposed, which has now taken the form of a major political and legal controversy.
