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Kerala Kaumudi Online
Sunday, 23 June 2024 5.17 PM IST

Setback for Sasidharan Karta in monthly payment case, cannot interfere in ED probe, says High Court

cmrl

KOCHI: Sasidharan Karta, the MD of Cochin Minerals and Rutile Limited (CMRL), who approached the High Court against the ED summons in the monthly payment case, suffered a setback. The High Court stated that it cannot interfere in the ED investigation. Sasidharan approached the High Court seeking to stay the further proceedings of the ED summons. ED has directed Sasidharan to appear on Monday for questioning.

Income Tax Settlement Board found that Pinarayi Vijayan's daughter, Veena Vijayan and her software firm Exalogic were paid Rs 1 crore 72 lakh for services not rendered to CMRL. Additionally, it has been found that money was given to Veena as a loan.

Veena Vijayan, Exalogic Company and the Public Sector Undertaking KSIDC are under investigation in the case. ED considers payment for non-existent services as falling within the ambit of money laundering. Documents may be requested from opposing parties prior to cross-examination. If they do not cooperate, measures including raids and arrests will be taken, followed by interrogation. Meanwhile, the High Court stated that there will be no immediate intervention in the ED's appeal against Thomas Isaac in the KIIFB Masala Bond case. The court opines that the appeal will be heard after the election. The single bench's order was that Isaac can be questioned after the election.

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TAGS: MONTHLY, PAYMENT, HIGHCOURT, CASE, ED, EXALOGIC
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