Muhammad Riyas dismisses CMRL pay-off allegations as political theater

Riyas maintains that he has nothing to fear, characterizing the state government's decision to launch an inquiry as an act of political hypocrisy. He noted that while the Congress-led UDF government frequently condemns the use of central investigative agencies against opposition figures nationwide, it is now relying on an ED report to fuel this specific case. The MLA signaled that he is currently reviewing the situation with legal counsel and intends to pursue action against those spreading what he terms as fabricated reports regarding his involvement.

The controversy centers on allegations that M/s Exalogic Solutions Private Limited, a company owned by Veena, received 2.78 crore rupees from CMRL under the pretense of IT consultancy services. Federal investigators further claim that MD Sasidharan Kartha facilitated additional loans of 50 lakh rupees to the firm despite a lack of repayment, suggesting the funds were part of a broader scheme of illicit payments. While the ED maintains that these transactions represent proceeds of crime, Riyas remains firm in his position that his conduct has been entirely lawful.