Kochi: The ED on Monday questioned Sharan S Kartha, Joint Managing Director of CMRL, in connection with its money laundering probe into alleged financial transactions involving the company and Exalogic Solutions Pvt Ltd, owned by former Kerala chief minister Pinarayi Vijayan's daughter Veena T.
Officials said Kartha appeared at the Enforcement Directorate (ED) office here at around 10.15 am.
Read more: ED summons former Kerala CM's daughter again in CMRL money laundering case
This is the second time that the agency has questioned Sharan S Kartha, son of Cochin Minerals and Rutile Ltd (CMRL) founder Sasidharan Kartha, officials said.
He was earlier interrogated on June 16.
The ED had also questioned Kartha's wife and daughter as part of the investigation.
Veena was questioned twice by the agency earlier this month.
The ED probe pertains to allegations that CMRL paid Rs 2.78 crore to Exalogic Solutions Pvt Ltd without receiving any services in return.
According to the agency, Empower India Capital Investments Pvt Ltd (EICPL), operated by Sasidharan Kartha, had also extended loans worth Rs 50 lakh to Exalogic despite the company allegedly failing to make timely repayments.
The ED has alleged that the management of CMRL and Veena generated "proceeds of crime" through these transactions.
The agency registered a case under the Prevention of Money Laundering Act based on a prosecution complaint filed by the Serious Fraud Investigation Office (SFIO) before a court in Ernakulam in April 2025.
Read more: ED probes auditors, vendors for colluding with CMRL MD in Kerala money laundering case
The SFIO, the investigation arm of the Ministry of Corporate Affairs, launched its probe into the affairs of CMRL following findings by the Income Tax Department.
CMRL came under the scanner of central agencies after an Income Tax Department raid in January 2019 allegedly detected irregularities, including suspected fictitious expenditure amounting to around Rs 130 crore.
