New Delhi: In a major setback for Kerala’s ruling Left Democratic Front (LDF), the Union Ministry of Corporate Affairs has given the green light to prosecute Veena Vijayan, daughter of Chief Minister Pinarayi Vijayan, in the Cochin Minerals and Rutile Limited (CMRL) corruption case.
The Serious Fraud Investigation Office (SFIO) has named Veena and her now-defunct IT firm, Exalogic Solutions, as accused, alleging that they received ₹2.73 crore from CMRL without providing any actual services.
The SFIO’s investigation revealed that Exalogic Solutions entered into an agreement with CMRL in 2017 for IT marketing, software, and consulting services. However, the agency found no evidence of any services rendered, leading to suspicions of a fraudulent financial arrangement.
Veena Vijayan has been charged under Section 447 of the Companies Act, 2013, which deals with corporate fraud involving significant monetary transactions. If convicted, she could face six months to ten years in prison and a penalty up to three times the illegally obtained amount.
The case has triggered a political firestorm in Kerala. Opposition Leader V.D. Satheesan called it a serious matter and demanded that CM Pinarayi Vijayan take moral responsibility and step down. The CPI(M) leadership is yet to officially respond to the allegations.
With growing pressure on the state government, this high-profile case could have significant political ramifications for Kerala’s ruling party in the coming months.
