The Enforcement Directorate (ED) has seized ₹1.5 crore in cash during searches conducted on 4 April at various premises of Sree Gokulam Chits and Finance Co.&nbsp;Pvt.&nbsp;Ltd in Tamil Nadu and Kerala. The firm, led by AM&nbsp;Gopalan&mdash;popularly known as Gokulam Gopalan&mdash;is among the producers of the upcoming Malayalam film Empuraan: L2.
The raids, carried out under the Foreign Exchange Management Act (FEMA), are part of an ongoing investigation into alleged forex violations totalling ₹1,000 crore. Key locations searched included the company&rsquo;s office in Chennai&rsquo;s Kodambakkam locality.
Those familiar with the issue say the ED is examining potential contraventions of FEMA, including possible unauthorized remittances and hawala transactions. The company operates across multiple Indian states, including Kerala, Tamil Nadu, Telangana, Puducherry, Maharashtra, Delhi, Andhra Pradesh, and Haryana.
Following the raids, speculation arose that the operation was politically motivated, especially in light of recent controversy surrounding Empuraan: L2, the sequel to Lucifer. The film has faced criticism over alleged references to the 2002 Godhra riots and perceived similarities between its main antagonist and a Bajrang Dal leader.
However, the ED has denied any such link. &ldquo;The raid conducted yesterday at the premises of the Sree Gokulam Group is not related to the film Empuraan,&rdquo; the agency clarified in a statement.
This is not the first time the group has come under the scanner. In April 2017, the Income Tax Department raided its premises across three states, alleging tax evasion. At the time, officials claimed the firm had suppressed substantial income&mdash;including recovered bad debts and interest&mdash;amounting to ₹1,107 crore over a five-year period, thereby avoiding significant tax dues.

The raids, under FEMA, are part of an ongoing investigation into alleged forex violations totalling ₹1,000 crore

Clarifies raids on 'Empuraan' producer amid FEMA probe unrelated to controversy over film

ED Seizes ₹1.5 Cr in Gokulam Chits Raids

Clarifies raids on 'Empuraan' producer amid FEMA probe unrelated to controversy over film

April 5, 2025 | 16:40 IST