Documents and ₹1.5 crore were seized from Gokulam Chits & Finance in Kodambakkam, Chennai, owned by prominent industrialist and producer Gokulam Gopalan.
The Enforcement Directorate (ED) conducted the raid based on alleged violations of the Prevention of Money Laundering Act (PMLA) and the Foreign Exchange Management Act (FEMA). The ED has found that Gokulam Group violated FEMA regulations. There are also indications that Gokulam Chits & Finance accepted money from NRIs in violation of financial norms. The ED is currently examining other financial dealings of the Gokulam Group as well. The investigation is part of a case registered by the Kochi unit of the ED in 2022.
In addition to the Chennai office, raids were also conducted on Friday at Gokulam Gopalan’s residence, the corporate office in Kozhikode, and Gokulam Mall. Gokulam Gopalan is also a co-producer of the much-discussed film Empuraan.
