The agency’s claims are contained in a 25-page communication sent to Director General of Police Ravada A Chandrasekhar, seeking registration of a case under the Prevention of Corruption Act against Vijayan, Veena, Riyas and others in connection with the Cochin Minerals and Rutile Ltd-Exalogic transactions.
Fresh details made public on Tuesday centre on handwritten notes seized from Veena during a May 27 search at a rented house in Thiruvananthapuram. The ED says Veena acknowledged that the notes were in her handwriting, but the meaning and legal significance of the entries are disputed.
The agency has characterised the material as evidence of suspected movement of unaccounted money to Dubai. It has alleged that intermediaries associated with Riyas and Veena were involved in transferring funds through informal channels and that some transactions were linked to plans for business activity in the emirate.
Riyas rejected the allegations on Tuesday, saying the seized notes related to a future business venture contemplated by Veena and did not amount to an admission of hawala dealings. He also said Veena had been questioned several times by the ED but had not, according to him, been asked about any hawala transaction.
The Beypore MLA accused the agency of attempting to damage his and Veena’s reputations and questioned the timing of the disclosure of details from the investigation. He said the allegations would be challenged through legal and political means.
The ED’s letter also refers to financial transactions that it says require investigation by the state police. The agency has alleged that about ₹20.5 crore was accumulated while Riyas was a minister and that a portion was transferred to Dubai. That figure remains an allegation requiring independent investigation and has been denied by Riyas.
The wider probe concerns payments made by CMRL to Veena and her company, Exalogic Solutions. The ED has alleged that ₹2.78 crore was credited to Veena and another ₹50 lakh to Exalogic, and has argued that the payments were not supported by services actually rendered.
The agency has further alleged that the money represented bribes connected to Vijayan’s period as chief minister. Vijayan has rejected that accusation, saying the investigation is politically motivated and that his daughter is being targeted because of her relationship to him.
Kerala’s government has not accepted the ED allegations as established facts. Home Minister Ramesh Chennithala said after the letter reached the DGP that it would be examined and any decision would be taken in accordance with law. The communication was subsequently forwarded for legal scrutiny.
Chief Minister V D Satheesan has also said the government would review the material before deciding whether police action was warranted. The state leadership has indicated that the ED’s request for a corruption case will be assessed on its legal merits rather than acted upon automatically.
The investigation stems from scrutiny of payments between CMRL and Exalogic and has expanded into questions about the source, purpose and movement of funds associated with Veena and people around her. The ED is proceeding under the Prevention of Money Laundering Act, while any corruption prosecution sought through the state police would require a separate process.
The letter also cites statements from people described as associates of Riyas and communications recovered during the probe. The ED says these materials refer to assistance for Veena’s Dubai venture and transfers routed through people known to the couple. Riyas disputes the agency’s interpretation of those statements and communications.
The police examination is therefore focused not only on the CMRL payments but also on whether material supplied by the ED discloses offences falling within state jurisdiction.
