A division bench of the Kerala high court on Monday reserved its verdict in the appeal filed by Cochin Minerals and Rutile Limited (CMRL) against a single-judge order of the court allowing the Enforcement Directorate (ED) to probe money-laundering charges against the private minerals firm in the monthly payments case.Kerala HC reserves order on CMRL’s plea in ED caseThe division bench of justices Raja Vijayaraghavan V and KV Jayakumar admitted the appeal on file and heard detailed arguments in the case by both parties. It posted the matter for final judgement on June 5.The court also orally asked the counsel for ED not to precipitate the issue until the judgment.“The learned counsel appearing for the respondents undertook that till 05.06.2026, the ED shall refrain from precipitating the issues,” the high court said in its order.The single judge bench of justice TR Ravi on May 26 had given the go-ahead to ED to investigate if CMRL conducted money laundering and bribery in connection with its allegedly fraudulent transactions with Exalogic Solutions, the now-defunct software firm owned by Veena T, the daughter of former chief minister and CPI(M) leader Pinarayi Vijayan.A day later, on May 27, ED had carried out raids at 10 locations in Kerala and Bengaluru, including at the residences of Vijayan and his daughter in Kannur and Thiruvananthapuram. ED officials have stated that they have collected details of investments and bank accounts owned by Veena during the searches.CMRL has been under the scanner over the past three years in connection with monthly payments it made to Veena T and Exalogic. The Interim Settlement Board of the Income Tax Department in 2023 had found that Veena and her firm, Exalogic Solutions, received monthly payments to the tune of ₹1.72 crore from CMRL in a three-year period despite the former rendering no services in the said period. The payments were alleged to be “kickbacks” for favours made to CMRL by the previous LDF government in Kerala.The case is currently being investigated by the Serious Fraud Investigation Office (SFIO) under the Union ministry of corporate affairs, while ED had filed a preliminary Enforcement Case Investigation Report (ECIR) to check whether the CMRL violated provisions of the Prevention of Money Laundering Act (PMLA). The SFIO has submitted its charge sheet in the case before a special court considering financial crimes in Ernakulam.