Kerala: ED raids CPIM neta's son Bineesh Kodiyeri residence in money laundering case

The Enforcement Directorate (ED) currently probing a money laundering case against Bineesh Kodiyeri, son of Kerala CPI(M) secretary Kodiyeri Balakrishnan on Wednesday, November 4, conducted multiple raids at his house and other various parts of Kerala.

The ED team from Bengaluru started with the raids at around 9:30 am and later progressed past 8:00 pm at Bineesh Kodiyeri's residence 'Kodiyeri' in Maruthamkuzhi. Meanwhile, in Thiruvananthapuram simultaneous raids were carried out at the houses of his two friends and three business establishments. Further, the ED officials carried out a raid at the house of one Anas Valiyaparambath in Kannur's Thalassery district. Valiyaparambath is the Kannur District Cricket Association office-bearer and a friend of Bineesh. A team of six ED officials reached his residence.

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ED officials find a mismatch in income tax returns and investments

Meanwhile, the ED officials have found a mismatch in income tax returns and investments. The investigation agency also claimed that Bineesh was operating using 'Benamies' to cover up his business trails and also acquired money through drug deals. The key purpose of the ED raid in Kerala is to find out the investments made by Bineesh in these companies, which have been operating in Kerala for many years. One company of Bineesh is into car accessories while others are into quarrying and medical supplies respectively. In one company, Bineesh was earlier in the Board of Directors.

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Furthermore, in a related development to the case the Punjab National Bank (PNB) has approached Debt Recovery Tribunal, Eranakulam against Bineesh and his two partners, Anand Padmanabhan and Arun S for defaulting on the repayment of Rs 30.74-lakh taken to fund Old Coffee House, a restaurant in Shangumukam. The case has been posted for November 25 for further proceedings.

Special Bengaluru court extends Bineesh's custody

On Monday a special court in Bengaluru had extended the custody of Bineesh to the Enforcement Directorate by five more days. The ED had produced Bineesh before the special court dealing with the money laundering cases as the four-day custody came to an end on November 2. ED arrested Bineesh on October 29 in a money laundering case linked to a drug seizure in Karnataka and took him into its custody for four days to interrogate him.

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(With inputs from Agencies)