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Kerala Kaumudi Online
Saturday, 18 May 2024 7.33 PM IST

Monthly payoff case: CMRL not handing over details of transactions with Exalogic, says ED

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KOCHI: The ED has said that Cochin Minerals and Rutile Limited (CMRL) is not handing over their transaction details with Veena Vijayan's Exalogic, which was involved in the monthly payoff case. The ED sought records of financial transactions and contract documents, both of which were not given. The company's Chief Finance Manager P Suresh Kumar, who will be quizzed today, did not produce the contract documents.

But Suresh Kumar said in the interrogation that the requested documents were examined and settled by the Interim Settlement Board of the Income Tax Department. To ED's demand, Suresh Kumar's reply was that it is not possible to hand over the documents in a case that has been decided in this way. To the queries, the officials of CMRL said that they don't know about the Exalogic company. ED will also question former cashier Vasudeva today.

The Income Tax Settlement Board found that Pinarayi Vijayan's daughter Veena Vijayan and her software firm Exalogic was paid Rs 1 crore 72 lakhs by CMRL for non-existent services. Along with this, it has also been found that money was given to Veena as a loan.

CMRL has filed a petition in the Delhi High Court seeking quashing of the Serious Fraud Investigation Office (SFIO) and ED investigations in the monthly payoff case. In the plea, CMRL said that the monthly payoff case has been settled by the Income Tax Interim Settlement Board and there is no need for further investigation. The court will consider the plea on Friday.

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TAGS: CMRL, EXALOGIC, MONTHLY PAYOFF, ENFORCEMENT DIRECTORATE, ED
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