Kochi: In a major revelation, the Serious Fraud Investigation Office (SFIO) has named Kerala Chief Minister Pinarayi Vijayan’s daughter, Veena Vijayan, as the key orchestrator in a high-profile financial scam involving Cochin Minerals and Rutile Limited (CMRL) and her firm, Exalogic Solutions.
According to the SFIO chargesheet submitted before the 7th Additional Sessions Court in Kochi, Veena allegedly received ₹5 lakh monthly directly from CMRL and another ₹3 lakh through her company, Exalogic — even though there is no evidence of any services provided in return.
The report highlights that Exalogic, after its launch, suffered financial setbacks and had annual liabilities of ₹66 lakh. However, the company’s fortunes turned around after striking deals with CMRL — which the SFIO now claims were part of a fraudulent setup.
Investigators allege that Veena, along with Shajitharan Kartha, conspired to siphon off a total of ₹2.78 crore from CMRL for services that were never rendered.
Veena has been listed as the 11th accused in the case. Notably, the Kerala High Court has temporarily stayed further proceedings based on the SFIO report, keeping the spotlight on what could become one of the most politically sensitive financial scandals in the state.
