“ED raids Pinarayi Vijayan-linked properties across Kerala on Wednesday as the Enforcement Directorate intensified its probe into the CMRL–Exalogic money laundering case.“
The Enforcement Directorate on Wednesday raided multiple properties linked to former Kerala Chief Minister Pinarayi Vijayan and his daughter Veena Vijayan in the widening CMRL-Exalogic money laundering investigation, days after the Kerala High Court allowed the probe to continue.
ED teams searched 12 locations across Kerala, including premises in Thiruvananthapuram, Kannur and Kozhikode. CISF personnel accompanied officials during the operation. One of the searched properties included Vijayan’s rented residence near Bakery Junction in Thiruvananthapuram.
The agency is examining allegations that Cochin Minerals and Rutile Limited (CMRL) paid around ₹1.72 crore to Veena Vijayan’s IT firm Exalogic Solutions between 2017 and 2020 without receiving legitimate services in return.
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SFIO, Tax Findings Added Pressure
The case traces back to Income Tax searches on CMRL in 2019, when investigators allegedly found questionable expenditure records and suspected off-book transactions. Later, the Serious Fraud Investigation Office opened a parallel corporate fraud inquiry. SFIO officials questioned Veena Vijayan in New Delhi in 2025. ED lawyers later told court that the money laundering investigation was separate from the SFIO process.
The Kerala High Court this week rejected attempts to halt the ED action. The court also refused to quash proceedings against CMRL officials, giving the agency room to intensify the probe. A key issue in the investigation is whether Exalogic actually provided consultancy services for the payments it received. Veena Vijayan and former CM Pinarayi Vijayan have denied wrongdoing. Court filings submitted earlier by the family said Exalogic’s agreement with CMRL “was above board” and that all transactions happened through banking channels with taxes properly paid.
Political Fallout Returns
The controversy had surfaced during the 2021 Kerala Assembly elections and again during the 2024 Lok Sabha campaign, though it briefly faded during the 2026 state polls. Now it has returned sharply.
KSIDC, a state-owned entity holding a 14% stake in CMRL, has added to the political heat surrounding the case. BJP leaders accused the CPI(M) leadership of protecting corporate interests, while Left leaders alleged central agencies were targeting opposition figures. No arrests have been announced so far. ED has also not publicly disclosed whether cash, digital records or financial documents were seized during Wednesday’s searches.
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