Chit Fund Chicane: Gokulam Gopalan Under ED Lens

The Enforcement Directorate has conducted searches at multiple locations linked to Kerala businessman Gokulam Gopalan due to alleged Rs 1,000 crore FEMA violations. The probe involves Gopalan's chit fund company and analyses 'unauthorised' transactions, possibly under anti-money laundering laws. The controversy also involves the movie 'L2: Empuraan'.

The Enforcement Directorate has escalated its probe into the financial operations of Kerala businessman Gokulam Gopalan, focusing on alleged Rs 1,000 crore foreign exchange violations. Searches were conducted at several premises, including in Chennai and Kochi, under the Foreign Exchange Management Act (FEMA).

Authorities are scrutinising Gopalan's Sree Gopalan Chit and Finance Co Ltd, citing illegal FEMA activities involving certain NRIs and unauthorized transactions. Additionally, potential links to anti-money laundering infractions are being reviewed.

The case coincides with the release of 'L2: Empuraan', co-produced by Gopalan, stirring controversy for its critical depiction of right-wing politics. Director Prithviraj Sukumaran and actor Mohanlal have responded with edits to the film to quell backlash.

(With inputs from agencies.)