Gokulam raid: ED says Rs 1000 crore FEMA violation and illegal transactions

Prominent industrialist and film producer Gokulam Gopalan is being questioned by the Enforcement Directorate (ED). He is being questioned at the corporate office near Gokulam Mall in Araidathu Palam, Kozhikode. The questioning began at 11:30 am on Friday. The ED team is also conducting inspections at Gokulam offices in Kerala and Tamil Nadu. Currently, raids are being conducted at 5 locations.

ED officials arrived in Kozhikode and Kochi after the raids began at Gokulam's financial institutions in Kodambakkam, Chennai. Inspections are also being conducted at various Gokulam institutions in Kozhikode city at the same time. There is also a raid at his house in Chennai. Information received from the ED is that the inspection is related to the violation of FEMA laws. A few days ago, a large amount of money was deposited into the Gokulam company. Where did that amount come from? Initial information is that they are asking questions including whether the amount came from one person.

The ED says that the current inspection and interrogation are not related to the Empuran movie. The ED also said that the raid is in the FEMA case involving Gokulam Gopalan and his company, Sree Gopalan Chit and Finance Company Limited. The case concerns violations of various FEMA provisions and other illegal transactions worth Rs 1,000 crore with NRIs. The ED says that it is also examining the cases of cheating and forgery registered against Sree Gopalan Chit and Finance Company Limited under the PMLA in another case.

Gokulam Gopalan came as the producer after Lyca Productions, the producers, withdrew from the Mohanlal-Prithviraj film Empuraan. Empuraan had entered the 200 crore club the other day. The raid came while it was breaking records in collection.

Sangh Parivar organizations had come forward against the movie Empuraan. Sangh Parivar organizations have criticized the film for distorting history in the Godhra incident and the Gujarat riots. Following strong pressure, the producers themselves intervened and made 24 cuts. The re-censored version, which removed some of the controversial parts, is now being shown in theaters.