KOCHI: In a significant leadership transition, Cochin Minerals and Rutile Limited (CMRL) has appointed Saran Kartha as its new Managing Director, effective May 21, 2025. This move follows the resignation of his father, Dr S.N. Sasidharan Kartha, who stepped down citing health reasons after leading the company since its inception in 1989.
Saran Kartha, previously serving as Joint Managing Director, will now oversee the company’s operations for a three-year term ending on May 20, 2028.
His appointment comes at a challenging time for CMRL, as the company grapples with serious allegations of financial misconduct.
The Serious Fraud Investigation Office (SFIO) has filed a complaint against CMRL, accusing it of fraudulent transactions amounting to Rs182 crore.
The complaint names Dr S.N. Sasidharan Kartha as the first accused and includes several others, such as T Veena, daughter of Kerala Chief Minister Pinarayi Vijayan.
Veena is alleged to have received Rs2.73 crore from CMRL without rendering any services.
As Saran Kartha assumes leadership, he faces the dual challenge of steering CMRL through its operational responsibilities and addressing the legal complexities arising from the ongoing investigation.
The company’s stakeholders and the public will be closely monitoring how the new leadership navigates these turbulent waters.
