CMRL pay-off case: Company MD Sasidharan Kartha’s son, wife appear before ED for questioning (opens original article in a new tab)

CMRL's managing director's son and wife appeared before the ED for questioning in a money-laundering case involving Exalogic Solutions, with allegations of fictitious expenses and fraudulent payments.

• CMRL's managing director's son and wife appeared before ED for questioning in a money-laundering case linked to Exalogic Solutions.
• ED alleged CMRL extended ₹50 lakh loans to Exalogic despite non-repayment, and fictitious cash expenses of 182 crore over 15 years.
• ED froze ₹18.36 crore in 242 accounts during raids related to the pay-off case involving CMRL and Exalogic.