The trial court in Kochi has begun further proceedings based on the chargesheet filed by the SFIO (Serious Fraud Investigation Office) in the monthly payment (masappadi) transaction case. After accepting the chargesheet and taking cognizance of the case, the court will issue summons to the accused by next week.
The court’s decision is based on a prima facie finding that an offense has been committed. The first step is assigning a case number. Following that, summons will be sent to the accused, starting with the first accused—CMRL MD Sashidharan Kartha—to the 11th accused, T. Veena.
Among the accused are four companies. It is reported that court proceedings related to this will take place as early as next week. Meanwhile, the Enforcement Directorate (ED) is also intensifying its investigation into the masappadi case. The ED has recently submitted an application in court seeking a copy of the chargesheet filed by the SFIO.
The copy will be handed over to the ED after obtaining the SFIO’s opinion. If offenses under the PMLA (Prevention of Money Laundering Act) and FEMA (Foreign Exchange Management Act) are found applicable, the ED could move forward with action to attach the properties of the accused, including that of the CMRL company.
