KOCHI: The Cochin Minerals and Rutile Limited (CMRL), the company facing a money-laundering probe involving Chief Minister Pinarayi Vijayan’s daughter’s firm Exalogic Solutions, has refused to hand over its transaction details to the Enforcement Directorate (ED).
As part of the probe, the ED recently grilled CMRL’s chief finance manager Suresh Kumar P, senior managers N C Chandrasekharan, Anju Kuruvilla, finance manager Suresh Kumar and former cashier Vasudevan. The agency had asked the officials to produce documents related to the transactions made by the CMRL to other firms, including Exalogic. However, CMRL officials refused to hand them over to the ED, claiming them as confidential.
“CMRL officials say the documents related to transactions of the company were part of the Income Tax (I-T) Settlement Commission proceedings which culminated in an order dated June 12, 2023. They maintain that these vital documents required in the money laundering case probe are confidential as per Section 245G of the I-T Act. According to them, the matters of the settlement commission proceedings are conclusive and cannot be re-opened either in the I-T Act or any other law in force, including PMLA as per Section 245I of the I-T Act” an official said.
The CMRL, in an affidavit filed at the Kerala High Court challenging the ED interrogation procedure, also submitted that documents asked by the agency cannot be handed over as part of the the current probe. However, ED officials said that as the company is facing a money-laundering probe, all documents of transactions have to be inspected.