Exalogic case: ED quizzes CMRL MD’s daughter

Kochi: Shibi Kartha, daughter of Cochin Minerals and Rutile Ltd (CMRL) managing director Sasidharan Kartha, appeared before enforcement directorate (ED), in connection with the CMRL-Exalogic case, at its Kochi zonal office on Monday morning.Shibi is reportedly a director of one of the companies linked to CMRL, sources said.ED recently conducted searches on CMRL, its directors Sasidharan Kartha and his son Saran S Kartha. ED will soon record both their statements and also question Veena T, opposition leader Pinarayi Vijayan’s daughter. The agency has issued fresh summons to Veena, directing her to appear before it for questioning on June 17.Though Veena was supposed to appear before ED on Friday, she informed the agency of her inability to appear citing health concerns.The ED case pertains to SFIO investigations into CMRL, over alleged fraudulent cash expenses of Rs 182 crore over 15 years. ED’s allegation is that one of CMRL’s fake expenses was payment to Veena. ED claims that her company, Exalogic Solutions Pvt Ltd, allegedly received fraudulent payments totalling Rs 2.78 crore from CMRL under the guise of IT consultancy services.Veena will have to explain what services Exalogic provided to CMRL, for which the payment was credited to her. Further, ED said Empower India Capital Investment Pvt Ltd (EICPL), operated by Kartha, extended loans totalling Rs 50 lakh to Exalogic despite Exalogic failing to make timely repayments. Veena will be questioned about it also.