Income Tax findings reveal cash nexus between I.N.D.I.A politicians, private firm

An Income Tax document has revealed shocking facts about politicians in Kerala allegedly receiving huge amounts of cash from a business group. A private company named Cochin Minerals and Rutile Limited (CMRL), which is in the business of manufacturing synthetic rutile by mining black sand from Kerala, came under the radar of tax officials. The department found that T Veena, daughter of Chief Minister Pinarayi Vijayan, received a total of Rs 1.72 crore as monthly payments over three years from a private company named Cochin Minerals and Rutile Limited (CMRL). The findings of the Income Tax Interim Settlement Board in New Delhi found that these payments were made on account of her association with an ‘influential person’ and no services were provided by Veena or her Bangalore-based company Exalogic. This was accepted in the form of an affidavit by CMRL’s Finance Manager as well as its Managing Director Sasidharan Kartha. What is shocking is that despite strong evidence coming on record, the principal opposition in the state has taken a soft stand on the issue. Highlighting the issue, Leader of the Opposition VD Satheesan quipped, “All parties should talk to traders and industrialists.” Get money.” However, the BJP has taken an assertive stand and put up a tough challenge to the CPIM-led government and the Congress-led United Democratic Front (UDF). The top leadership of the BJP has left no stone unturned to attack the parties involved in the I.N.D.I.A alliance. He mocked the ‘new tax system’ adopted by the alliance, terming it as ‘Veena Service Tax’. He also alleged that several companies have made similar payments to his company. “Why are companies like CMRL, which are into software or technology business, investing money in Veena Vijayan’s company?” He asked. Union minister V Muraleedharan challenged the chief minister to order an impartial inquiry into the matter. He added, “The Chief Minister of Kerala should take immediate action and order an independent probe into the monthly payments made by an entity to Veena Vijayan’s company. Possibly, other companies or individuals are making similar payments, and its There should be a thorough investigation.” Claimed. These names have come out in the form of disclosures made by CFO Suresh Kumar to the Income Tax department’s interrogation, where he was confronted with the material seized during raids at their premises. It said, “These are crude notes made by me, containing notes of various transactions.” In the next part, he revealed the names of politicians, including Congress and Muslim League leaders Kunjali Kutty and Ibrahim Kunju. , Congress leaders including late Oommen Chandy and Ramesh Chennithala also figure in the list. The recovered document had abbreviations like PV, OC, RC, KK and IK. However, Suresh confirmed that these abbreviations refer to the names of Pinarayi Vijayan, Oommen Chandy, Ramesh Chennithala, PK Kunhalikutty and VK Ibrahim Kunju. He then explains that the cash transactions were made directly to their offices or representatives without any receipt. He also admitted that politicians were paid for the smooth running of their business. “We receive a large number of threats to hinder our business or hinder the smooth functioning of our day-to-day activities. To overcome these threats and get cooperation we make several payments to office bearers of various political parties, state police, media houses to ensure smooth conduct of our day to day activities,” said his affidavit before the IT department Has gone. CMRL has admitted on record fraudulent expenditure of Rs 134.27 crore in seven financial years between 2013-14 to 2019-2020. The findings were part of an in-depth probe conducted by the Income Tax Department in 2019 where it suspected that the company was involved in inflating its expenses. This was followed by raids on premises linked to CMRL. After raiding and examining the documents of the company from the financial years 2013 -14 to 2019-20, the Income Tax Department found that the company had allegedly inflated its expenses, made cash payments to individuals and did not disclose its actual income Was. It also found disputable the total payment of Rs 1.7 crore over three years to Veena and her company. The troubled CMRL applied for settlement to the Income Tax Department through the Settlement Board in 2020 and the board raised several questions from the company. The accessed documents also revealed the details of the agreements reached between the IT department and CMRL along with the replies given by the representatives of the company. 1.72 crore given to CM’s daughter! In December 2016, CMRL entered into an agreement with Veena for IT and marketing consultancy services. In addition, in March 2017, another agreement was signed with Veena’s company Exalogic for software services.