Overview
- The ED has issued a fresh notice asking T. Veena to appear on June 29 for further questioning in its probe of transactions between Cochin Minerals and Rutile Ltd. and her defunct firm Exalogic.
- Investigators have already questioned Veena earlier this week and inspected her bank lockers while also questioning several Kartha family members and CMRL executives as part of the evidence collection drive.
- The agency's case focuses on alleged payments of about Rs 2.78 crore from CMRL to Exalogic without services and a Rs 50 lakh loan from Empower India Capital Investments that was not repaid on time, which the ED says generated proceeds of crime.
- The SFIO prosecution documents that triggered ED action allege long‑running creation of fictitious cash expenses (figures reported by investigators at roughly Rs 182 crore over 15 years) and about Rs 91 crore paid to transport firms linked to the Kartha family.
- The probe is expanding through more summonses, locker inspections and court access to SFIO records, and its political sensitivity stems from Veena's relationship to a senior politician which could shape public scrutiny and legal contests ahead.