Kerala businessman and film producer Gokulam Gopalan appeared in the Enforcement Bureau (ED) Bureau on Monday (7 April 2025) as part of the agency’s investigation into alleged violations of the Forex Management Act (FEMA), involving his CHIT fund company in 1999.
Mr. Gopalan, made a controversial film L2: empuraan Starring Mohanlal, who appeared in the office around 12.40 pm, told Mediapersons that he “lacks any ideas about why he was called in front of an agency”.
He also rejected the ER claim that Ed seized Rs 1.5 crore in cash violation of FEMA after a search of his residence and office.
The agency’s High Intelligence Office released a release on Saturday (5 April 2025), saying the search was held at a location in Kozhikode, Kerala on April 4 and 5, and at two locations in Tamil Nadu, by Sree Gokulam Chits Chits and Finance Co Private Ltd.
The press release said the investigation was collected under specific intelligence collected “without proper permission from the competent authorities” and is collecting subscriptions to collect subscriptions to raise funds from people living outside India. In addition, their subscription amounts are collected in cash, violating regulations composed of the Reserve Bank of India (RBI).
“This resulted in violation of Article 4(b) of the Foreign Exchange Administration (Permised Capital Account Trading) Ordinance, 2000 R/W circular dated June 11, 2015, issued by the RBI.”
publishing – April 7, 2025 01:44 pm ist
