The Enforcement Directorate (ED) on Monday questioned Gokulam Gopalan, one of the producers of the recently released Malayalam film L2: Empuraan, at its Kochi office in connection with alleged violations under the Foreign Exchange Management Act (FEMA) by his chit fund company, Sree Gokulam Chits and Finance Co Pvt Ltd.
Sources revealed that the ED recorded Gopalan’s statement as part of its ongoing probe into unauthorized foreign exchange transactions. The federal agency had earlier searched multiple premises linked to the Kerala-based businessman in Kozhikode and Chennai, seizing ₹1.5 crore in cash from his company’s offices.
The ED alleged that Sree Gokulam Chits and Finance illegally collected chit fund subscriptions from individuals residing outside India, both in cash and via cheques, without the necessary authorisation from the Reserve Bank of India (RBI). The agency claimed the company had collected ₹3,71.80 crore in cash and ₹220.74 crore through cheques in violation of FEMA Regulation 4 and RBI guidelines issued in June 2015.
While Gopalan has not issued a public statement on the matter, the ED has maintained that the investigation is based on “specific intelligence” and that the collections from overseas were made in contravention of existing laws.
The development comes amid the ongoing controversy surrounding L2: Empuraan, a high-budget political thriller that has sparked debate over its portrayal of right-wing politics and references to the 2002 Gujarat riots. The film, directed by Prithviraj Sukumaran and starring superstar Mohanlal, was released on March 27 as the second installment of the Lucifer trilogy.
The movie, co-produced by Antony Perumbavoor and A Subaskaran under Aashirvad Cinemas and Lyca Productions, faced backlash soon after its release. In response, co-producer Perumbavoor confirmed that over two minutes of footage was removed following public criticism.
As investigations continue, the ED is expected to question more individuals connected to the company and scrutinize the financial dealings linked to overseas investors and subscribers.
Sources By Agencies
