Centre nods to prosecution of Kerala CM's daughter Veena T in monthly payment case; Will she face arrest?
The Union Ministry of Corporate Affairs has approved prosecution against Kerala CM Pinarayi Vijayan’s daughter, T Veena, in connection with the alleged Rs 1.72 crore monthly payment scam involving Cochin Minerals and Rutile Ltd (CMRL).
FollowThiruvananthapuram: In a significant blow to Kerala’s LDF government, the Union Ministry of Corporate Affairs on Thursday approved the initiation of prosecution proceedings against Chief Minister Pinarayi Vijayan’s daughter, T Veena, over her alleged involvement in the monthly payment scam linked to Cochin Minerals and Rutile Ltd (CMRL). This decision follows a chargesheet submitted by the Serious Fraud Investigation Office (SFIO) to the Special Court for Economic Offences in Kochi.
The investigation uncovered that T Veena’s firm received Rs 1.72 crore CMRL between 2017 and 2020 without offering any services. Following this disclosure, the central government instructed the SFIO to conduct a detailed probe into the allegations.
Kerala: SFIO names Veena Vijayan and CMRL officials as accused in monthly pay-off case
In its chargesheet submitted to the court, SFIO named Veena, CMRL Managing Director Sasidharan Kartha, and 25 others as accused.
If found guilty, Veena and the other accused could face imprisonment ranging from six months to ten years under the Companies Act, 2013. Additionally, they would be liable to pay a penalty amounting to three times the illegally obtained amount.
The 160-page SFIO chargesheet charges Veena and her company under Section 447 of the Companies Act, which deals with fraud involving a minimum of Rs 10 lakh or 1% of a company’s turnover, whichever is lower.
SFIO finds Veena's firm received Rs 2.70 crore from CMRL
During its investigation, the SFIO found that Veena’s firm had actually received Rs 2.70 crore from CMRL. Meanwhile, the Income Tax Interim Settlement Board, in its 2023 report, stated that CMRL had paid Rs 1.72 crore to Exalogic Solutions.
CMRL will now have to respond legally, along with Empower India Capital Investment Ltd, a sister concern from which Veena earlier claimed the money was a loan. However, the SFIO has reportedly found that no evidence supports her claims.
The investigation has also revealed that Rs 182 crore was siphoned off from CMRL by presenting fake expenditures, with some of the funds allegedly routed to political leaders. As more names and details emerge, the case is expected to take even more dramatic turns in the coming days.
With the Centre approving prosecution in the high-profile "Monthly Payment" case, speculation is mounting over the possibility of Kerala Chief Minister Pinarayi Vijayan’s daughter, Veena Vijayan, facing arrest.
Also Read: Kerala: Centre accuses CMRL of Rs 185 crore corruption, submits SFIO findings to Delhi HC
subscribe to Asianet Newsable WhatsApp channel by clicking here.
