1 week ago
ED Alleges Veena Vijayan Managed Funds, Sent Money Dubai
The Enforcement Directorate is investigating money connected to a company in Kerala.
It says handwritten notes found during a search linked to Veena T. listed about Rs 20 crore.
The agency also says the notes showed that money was sent to Dubai.
That Dubai amount was about 3.49 lakh UAE dirhams, or roughly Rs 85 lakh.
The ED says these amounts were separate from money allegedly paid to Veena’s company for IT services.
Investigators also say some transfers may have used hawala, an informal money-transfer system.
They suspect a phone SIM registered to another person was used for internet calls.
These are allegations in an ongoing investigation and have not been established by a court.
The Enforcement Directorate alleged that Veena T. managed about Rs 20.05 crore beyond her known, legal and declared income.
Handwritten notes seized during a May 27 search allegedly recorded people’s names, amounts handled or spent, and transfers in Indian rupees and UAE dirhams.
The notes allegedly recorded 3.49 lakh UAE dirhams transferred to Dubai, equivalent to about Rs 85 lakh.
The ED said the funds were separate from alleged payments made by Cochin Minerals and Rutile Limited to Veena’s firm, Exalogic Solutions.
The agency also alleged hawala transfers and suspected use of a SIM card registered in another person’s name; no response was reported from P.A. Mohammed Riyas.
- Who
- The Enforcement Directorate, Veena T., Cochin Minerals and Rutile Limited, Exalogic Solutions, and individuals named in the alleged notes are involved in the investigation.
- What
- The ED alleged that Veena managed about Rs 20.05 crore, transferred 3.49 lakh UAE dirhams to Dubai, and used hawala channels.
- Where
- The searches took place at locations in Kerala, while the alleged transfers involved Dubai in the United Arab Emirates.
- When
- The notes were allegedly seized during searches on May 27, 2026; fresh raids were conducted on Tuesday and Wednesday.
- Why
- The action is part of a money-laundering probe linked to allegations that CMRL made improper payments to Exalogic Solutions.
Enforcement Directorate’s allegations
Reported response position
Funds and income
Enforcement Directorate’s allegations
The ED alleged that Veena’s handwritten accounts showed her handling about Rs 20.05 crore beyond her known, legal and declared sources of income.
Reported response position
The reports did not include a response from Veena or a denial of the allegations; the claims remain part of an ongoing investigation.
Dubai transfers and hawala
Enforcement Directorate’s allegations
The agency said the notes recorded 3.49 lakh UAE dirhams transferred to Dubai and said it seized evidence relating to hawala routes.
Reported response position
No response disputing or confirming the alleged Dubai transfers or hawala activity was reported.
SIM card and communications
Enforcement Directorate’s allegations
The ED alleged that a SIM card registered in another person’s name was used in a Wi-Fi router for internet-based calls.
Reported response position
The reports did not provide Veena’s response to this allegation.
Key facts
- Alleged Indian-rupee funds
- About Rs 20.05 crore recorded in handwritten notes, according to the ED.
- Alleged Dubai transfer
- About 3.49 lakh UAE dirhams, estimated by the agency at roughly Rs 85 lakh.
- Searches
- The ED said the notes were seized during a May 27 search at premises linked to Veena and CMRL promoters.
- Underlying company probe
- The investigation concerns Cochin Minerals and Rutile Limited and alleged payments to Exalogic Solutions.
- Alleged payment
- The SFIO alleged that CMRL paid Rs 2.78 crore to Exalogic Solutions, described as IT consultancy fees.
- Alleged fictitious expenses
- The SFIO alleged that CMRL incurred Rs 182 crore in fictitious cash expenses over 15 years.
- Raid-location discrepancy
- Reports described the fresh operation as covering eight locations, while another account referred to 10 premises in Kerala.
Quotes
Agency spokesman
Enforcement Directorate official
“Earlier, the ED had conducted searches on Smt. Veena and promoters of CMRL on 27-05-2026. During the said search, ED found certain handwritten accounts maintained by Smt. Veena. The handwritten notes contained the names of the persons, amounts handled/ spent, amounts transferred to Dubai, etc. The accounts contained details of amounts handled in ‘AED’ [Dubai currency] as well as Indian rupees.”
theprint.in
“The amounts transferred to Dubai as per the notings are about 3.49 Lakh AED [equivalent to about Rs 85 lakh]. The accounts for Indian rupees maintained is for about Rs 20.05 crore [approximately]. The handwritten accounts were seized by ED.”
theprint.in
Sources
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