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The Kerala High Court has permitted the Enforcement Directorate to continue its investigation into the alleged financial transactions between Cochin Minerals and Rutile Limited (CMRL) and Exalogic Solutions.
The Division Bench comprising Justices A Raja Vijayaraghavan and KV Jayakumar dismissed an appeal filed by CMRL challenging a single-judge order that had granted permission for the ED investigation to proceed. Meanwhile, ED Director Rahul Navin arrived at the Kochi Zonal office today ahead of a high-level ED meeting. The case pertains to allegations of money laundering and suspected irregular financial transactions involving CMRL and entities linked to Exalogic Solutions, owned by the daughter of former Keralam Chief Minister Pinarayi Vijayan. The ED probe is part of wider investigations into alleged diversion of funds and questionable payments flagged by central agencies. The matter has also drawn political attention in Keralam, where searches conducted earlier by the ED across multiple locations triggered a major controversy. The raids were linked to a Rs 182-crore money laundering investigation involving CMRL and associated entities. Investigators have alleged that Exalogic Solutions received Rs 2.78 crore from CMRL under the guise of consultancy services, while another firm, Empower India Capital Investment, allegedly extended loans despite repayment defaults. The probe is also examining claims of fictitious expenses and suspected fund diversion through shell entities. Earlier ED searches were carried out at several locations in Thiruvananthapuram, Kannur, Ernakulam and Bengaluru, including premises linked to political figures, triggering sharp political reactions across the state. Former chief minister Pinarayi Vijayan termed the action "political vendetta," while opposition parties and BJP leaders defended the investigation, calling it a lawful process under the Prevention of Money Laundering Act. Following the raids, protests erupted in parts of Thiruvananthapuram, where CPI(M) workers allegedly attacked ED vehicles, leading to heightened security and police deployment. With the High Court's latest order, the ED is now permitted to continue its probe. (ANI)
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