The Enforcement Directorate (ED) has intensified its probe into alleged violations of the Foreign Exchange Management Act (FEMA) by the Gokulam Group, led by industrialist and film producer Gokulam Gopalan. After earlier summoning Gopalan for questioning and documentation, the agency allowed him to respond either in person or through a representative. This move follows a previous five-and-a-half-hour interrogation related to suspected irregularities in handling foreign funds.
Initial findings by the ED suggest the Gokulam Group received Rs 592.54 crore in foreign funds—Rs 370.80 crore in cash and Rs 220.74 crore via cheques—without complying with FEMA regulations. Authorities believe a portion of these funds may have been illegally transferred overseas and are now investigating the possibility of additional undisclosed transactions. Officials are also looking into how these funds were used within India and whether they were deployed for purposes that breach Indian financial laws.
The investigation has gained public attention, especially after Gokulam Gopalan’s film *Empuraan* achieved major box office success. ED had previously conducted raids at locations tied to Gopalan, including his homes and offices in Chennai and Kozhikode, as well as the Gokulam Mall. The agency is probing suspected illegal transactions totaling around Rs 1,000 crore through entities linked to the Gokulam Group and is scrutinizing Gopalan’s role in various firms. Past investigations by the Income Tax Department in 2017 and the ED in 2023 had also targeted Gopalan.
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