Chennai: Sources from the Enforcement Directorate (ED) indicate that ₹1.5 crore was seized during inspections at the financial institutions of businessman Gokulam Gopalan. For the past two days, ED has been conducting raids at various Gokulam offices. Cash and documents were reportedly seized from Gopalan’s office.
In total, around ₹3 crore has been seized so far. Gokulam Gopalan was questioned by the ED today. The investigation is ongoing, with inspections shifting from the head offices yesterday to branch offices today.
The raids are based on violations of FEMA (Foreign Exchange Management Act) regulations. The ED revealed that Gokulam had been under surveillance for the past six months. Gopalan was also questioned yesterday by the ED in Kozhikode.
