ED raids eight Kozhikode locations in Exalogic financial probe
Raids on a CM's family business raise concerns about potential abuse of power.
The Enforcement Directorate (ED) conducted raids on August 18, 2026 at eight locations in Kozhikode as part of an investigation into alleged financial transactions between Exalogic Solutions, owned by former Chief Minister Pinarayi Vijayan’s daughter T. Veena, and Cochin Minerals and Rutile Limited (CMRL). The raids follow earlier searches on May 27, 2026, where ₹18.36 crore was frozen in 242 accounts. CMRL admitted to fake expenses before the Income Tax Settlement Commission, leading to a probe by SFIO which filed charges under PMLA against Sasidharan Kartha and others for corporate fraud involving ₹182 crore in fictitious cash expenses over 15 years. Exalogic received fraudulent payments of ₹2.78 crore from CMRL.
18 AUG 2026
· THIS STORY — The Hindu
ED raids eight Kozhikode locations in Exalogic financial probe
19 AUG 2026
— The Hindu
The ED seized handwritten accounts by T. Veena detailing ₹85 lakh transferred to Dubai and other transactions, suggesting misuse of funds from CMRL.
— NDTV
The Enforcement Directorate seized financial records and digital devices from Veena T, revealing details of illicit fund transfers and fraudulent payments.
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