Kerala High Court FIR Puts CMRL at Center of Fraud Probe
A Kerala High Court order registering an FIR over ED allegations directly exposes mineral sands processor CMRL to a criminal probe for alleged fraudulent payments.
The Kerala High Court on Friday ordered a criminal case against former Chief Minister Pinarayi Vijayan and others, directly exposing Cochin Minerals and Rutile Ltd (CMRL) to a formal investigation over alleged fraudulent payments of ₹2.78 crore.
Justice A Badharudeen overruled the state government's argument for a preliminary inquiry, accepting the Enforcement Directorate's report as sufficient grounds for an FIR. The ED has alleged that CMRL made the payments to Exalogic Solutions, a now-defunct company owned by Vijayan's daughter Veena T, under the guise of IT consultancy services.
CMRL processes mineral sands into value-added products including rutile and titanium dioxide. The company now faces a criminal investigation alongside the money laundering probe. The probe puts CMRL's licensing, financing, and offtake agreements under a cloud of legal uncertainty.
The state government had opposed the FIR, arguing the ED's report required a preliminary inquiry. The court's decision moves the matter from a political dispute to a specific corporate liability. CMRL's board and lenders now face a defined legal risk alongside the company's existing operational profile.
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