Company Directory - Cochin Minerals and Rutile Ltd.
Company Details - Cochin Minerals and Rutile Ltd.
Cochin Minerals and Rutile Ltd.
WebsiteCochin Minerals and Rutile Ltd. is engaged in the extraction and processing of minerals, primarily focusing on synthetic rutile and ferric chloride. The company plays a significant role in mineral processing and has established itself as a key player in the field.
CCI Score
CCI Score: Cochin Minerals and Rutile Ltd.
-56.94
10.33%
Latest Event
CMRL Denies Kickback Allegations Amid Political Scandal
Amid politically charged allegations of kickbacks involving its contract with Exalogic Solutions, Cochin Minerals and Rutile Ltd. (CMRL) has been indirectly implicated in a controversy that the Kerala Chief Minister has refuted in a legal affidavit. The affidavit stated that all transactions were properly executed through bank channels and the allegations were politically motivated.
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QUISLING
Cochin Minerals and Rutile Ltd. is currently rated as a Quisling.
Latest Events
- JUN092025
Amid politically charged allegations of kickbacks involving its contract with Exalogic Solutions, Cochin Minerals and Rutile Ltd. (CMRL) has been indirectly implicated in a controversy that the Kerala Chief Minister has refuted in a legal affidavit. The affidavit stated that all transactions were properly executed through bank channels and the allegations were politically motivated.
- APR032025
The SFIO has filed a prosecution complaint in the CMRL bribery case in Kochi. Top company officials, including MD Sasidharan Kartha, are implicated in alleged fraud under the Companies Act. The charges also link the scandal to political figures, notably involving Veena Vijayan, the Chief Minister's daughter, and her firm Exalogic Solutions. The case centers on diversion of funds and unethical contractual practices, raising concerns about the company’s political and business practices.
-60
Public and Political Behavior
June 9
Cochin Minerals and Rutile Ltd. is implicated in a bribery scandal with alleged ties to politically influential figures, which undermines democratic accountability and public trust. The involvement of top officials and connections to politically connected individuals signals corporate actions that may indirectly enable authoritarian practices.
SFIO names Veena Vijayan, 26 others as accused in CMRL bribery scandal
-70
Business Practices and Ethical Responsibility
June 9
The chargesheet accuses CMRL of engaging in fraudulent business practices including bribery, undisclosed related party transactions, and misuse of funds. These unethical actions reflect poor corporate governance and business ethics, contributing to an environment conducive to regulatory capture and potential authoritarian influence.
SFIO names Veena Vijayan, 26 others as accused in CMRL bribery scandal
- JAN122025
Cochin Minerals and Rutile Ltd. (CMRL) has been implicated in an investigation by the SFIO for allegedly inflating expenses to divert Rs185 crore to political leaders and related entities. The case, presented to the Delhi High Court, highlights potential misuse of corporate funds to influence political processes.
-60
Political Contributions and Lobbying Efforts
June 9
The SFIO investigation revealed that CMRL diverted a significant amount of funds under the guise of inflated expenses, effectively channeling Rs185 crore to political figures and entities. This misappropriation of funds undermines democratic accountability and poses risks of corporate complicity in undermining fair political processes.
CMRL illegally diverted Rs 185 cr to politicians and Entities: Centre tells Delhi HC
- JAN112025
The Indian central government has accused Cochin Minerals and Rutile Ltd. of corruption by allegedly diverting Rs 185 crore through inflated expenses and fake bills. The Serious Fraud Investigation Office's findings have been submitted to the Delhi High Court, with the investigation noting misuse of funds that may have bolstered political influence.
-80
Political Contributions and Lobbying Efforts
June 9
The company is accused of illegally diverting significant funds to politicians, a move that undermines democratic accountability and potentially supports authoritarian influences by corrupting political processes. Such actions, by channeling corporate funds into political connections, reflect a disturbing abuse of power.
Kerala: Centre accuses CMRL of Rs 185 crore corruption, submits SFIO findings to Delhi HC
-70
Business Practices and Ethical Responsibility
June 9
The corruption allegations against CMRL involve unethical business practices such as inflating expenses and creating fake bills. This reflects a broader pattern of malpractice that compromises both corporate integrity and democratic accountability.
Kerala: Centre accuses CMRL of Rs 185 crore corruption, submits SFIO findings to Delhi HC
- DEC182024
The SFIO is investigating Cochin Minerals and Rutile Ltd. for allegedly funding individuals linked to terrorist activities and engaging in bribery involving political leaders, tied to the Exalogic-CMRL financial transaction. The company has countered the probe by filing a petition in the Delhi High Court, arguing that the investigation is illegal due to prior resolution by the Income Tax Settlement Commission and breaches of confidentiality.
-80
Political Contributions and Lobbying Efforts
June 9
The allegations against CMRL of funding terrorist-linked individuals and bribery of political figures suggest an abuse of corporate influence for illicit political gains. This behavior undermines democratic integrity and can facilitate authoritarian practices, hence a strongly negative rating.
Kerala: SFIO informs Delhi HC about probe against CMRL for possible links to terror funding, bribery
- DEC302023
Cochin Minerals and Rutile Ltd. transferred Rs 135 crore to political and trade union leaders after 2016, prompting the Union Corporate Affairs Ministry to issue a show cause notice and initiate a potential SFIO probe.
-80
Political Contributions and Lobbying Efforts
June 9
The company's disbursement of Rs 135 crore to political and trade union leaders constitutes an irregular and politically motivated largesse. This action, which prompted a show cause notice from the Union Corporate Affairs Ministry and raised serious corruption concerns, is indicative of corporate behavior that can undermine democratic processes and promote undue influence. Such practices align with behaviors that favor authoritarian or corrupt political influence, making it a significant negative from an anti-fascist perspective.
Largesse to politicians: Corporate affairs ministry slaps show cause notice on CMRL, KSIDC
- DEC182023
An Income Tax probe was recommended following a statement by CMRL's CFO, in which it was alleged that the company spent Rs 135 crore in illegal payments to politicians, trade union leaders, police, and other officials to suppress protests.
-75
Political Contributions and Lobbying Efforts
June 9
The CFO's statement alleging that CMRL bribed politicians, trade union leaders, police, and others to suppress protests indicates an abuse of influence through illicit political contributions. Such actions undermine democratic accountability and support authoritarian tactics. This behavior falls under political contributions and lobbying efforts, significantly lowering the company's score on the CCI scale.
CMRL: Income Tax proposed probe following statement given ...
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