Full Breakdown
Supreme Court Stays Investigation in Cochin Minerals and Rutile Limited (CMRL)-Exalogic Case, Allows Appeal
By Drooid · · How we work
Core Event
On October 21, 2026, a vacation bench of the Supreme Court comprising Justices Joymalya Bagchi and V. Mohana ordered that the investigation into the FIR against former Kerala chief minister Pinarayi Vijayan, his daughter T. Veena, and his son-in-law P. A. Mohamed Riyas be stayed for seven days. The Court also set aside the Kerala High Court division-bench order that had denied leave to appeal the earlier single-judge direction to register the FIR. The petitioners may now pursue their appeal before a High Court division bench, scheduled for October 26, 2026.
Background & Context
The controversy stems from alleged payments by Cochin Minerals and Rutile Ltd (CMRL) to Exalogic Solutions Pvt Ltd, a company formerly owned by Veena. The Enforcement Directorate (ED) communicated material under Section 66(2) of the PMLA to the Kerala police, prompting the High Court single-judge bench to order registration of an FIR under the Prevention of Corruption Act, 1988 on October 9, 2026. The FIR alleges that CMRL transferred funds to Exalogic as IT consultancy services. A division bench of the High Court rejected the petitioners’ request for leave to appeal on October 15, 2026, leading them to approach the Supreme Court.
Data & Statistics
- Alleged payment amount: reported as INR2.78 crore in some sources and INR3.28 crore in others.
Timeline
- Sept 22, 2026: ED informs Kerala police of a cognisable offence.
- Oct 9, 2026: High Court orders FIR registration.
- Oct 12, 2026: FIR formally registered.
- Oct 15, 2026: High Court division bench denies leave to appeal.
- Oct 21, 2026: Supreme Court stays investigation for seven days and restores right to appeal.
- Oct 26, 2026: Kerala High Court division bench to hear the appeal.
Official Statements & Responses
The Court emphasized that the FIR was issued “pursuant to a judicial order” rather than solely on the basis of the ED communication, and that the petitioners have a “locus to prefer appeal.”
The Enforcement Directorate, which initiated the money-laundering probe, is expected to oppose the appeal, arguing that the information under Section 66(2) obliges the state to act.
BJP national executive member P. K. Krishnadas criticised the handling of the case, stating that the Congress and CPI(M) appear to be “protecting Mr Vijayan.” (statement made on Oct 22, 2026).
Conflicting Reports & Gaps
- Payment amount: sources differ between INR2.78 crore and INR3.28 crore.
- Basis for FIR registration: while the Supreme Court stressed the FIR was issued “pursuant to a judicial order,” some reports suggest the state may have acted solely on the ED’s communication. The precise legal threshold for mandatory FIR registration under the PMLA remains unsettled.
What’s Next
The petitioners will present their appeal before the Kerala High Court division bench on October 26, 2026. The Supreme Court’s stay on the investigation remains in effect for ten days from October 21, 2026, after which the High Court will decide any interim relief and the future course of the probe.