CMRL-Exalogic pay-off case: Sasidharan Kartha too retracted statement to ED
CMRL’s former Chief Financial Officer and Chief General Manager P. Suresh Kumar, along with current Chief General Manager, had similarly submitted retraction affidavits to ED in 2024
Sasidharan Kartha, the managing director of Cochin Minerals and Rutile Limited (CMRL), retracted a statement to the Enforcement Directorate (ED) in 2024 regarding the Exalogic-CMRL pay-off case. CMRL's former CFO and Chief General Manager, P. Suresh Kumar, and current Chief General Manager also submitted retraction affidavits to the ED that year.
Kartha's admission in his PMLA statement included transferring funds to vendors, withdrawing cash without legitimate expenses, and payments to T. Veena, daughter of former Chief Minister Pinarayi Vijayan, without services rendered. Brother N. Ajith claimed ED officials had forcefully recorded Kartha's statements. The ED sent a report to the State Police Chief in 2026, requesting an FIR against Vijayan, former PPM Minister P.A.
Mohamed Riyas, and Veena under the Prevention of Corruption Act and other laws. Vijayan allegedly received a ₹3.28 crore bribe. Kumar resigned from CMRL and submitted his own retraction to the ED in May 2024, alleging intimidation and illegal conduct by ED officers. Riyas accused the ED of intimidating witnesses.
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