A Kerala high court division bench has reserved its verdict on an appeal filed by Cochin Minerals and Rutile Limited (CMRL) against a single-judge order allowing the Enforcement Directorate (ED) to probe money-laundering charges against the private minerals firm.
The court posted the matter for final judgement on June 5 and orally asked the ED counsel not to precipitate the issue until then.
The ED had carried out raids at 10 locations in Kerala and Bengaluru, including at the residences of former chief minister Pinarayi Vijayan and his daughter Veena T, in connection with alleged money laundering and bribery by CMRL in its transactions with Exalogic Solutions.
CMRL has been under the scanner over the past three years in connection with monthly payments it made to Veena T and Exalogic, which the Interim Settlement Board of the Income Tax Department found to be "kickbacks" for favours made to CMRL by the previous LDF government in Kerala.
