By A Staff Reporter
New Delhi, April 5 — The Enforcement Directorate (ED) has recovered ₹1.5 crore in cash following extensive searches conducted on April 4 across Tamil Nadu and Kerala in connection with a Foreign Exchange Management Act (FEMA) case involving Gokulam Gopalan and his firm, Sree Gopalan Chit and Finance Co Ltd.
In an official statement issued Friday, the ED confirmed that the searches were part of an ongoing investigation into alleged violations of foreign exchange regulations. The agency conducted coordinated raids at multiple premises linked to the company and its promoter across both states.
Gokulam Gopalan, a prominent businessman and film producer, is the chairman of the Sree Gokulam Group, which operates in various sectors including chit funds, finance, hospitality, and education. The company’s financial dealings have been under ED scrutiny for suspected irregularities related to foreign exchange transactions.
Officials said the ₹1.5 crore seized during the operation is believed to be linked to the FEMA violations being probed. The ED is expected to continue its investigation to trace further financial trails and identify any other potential breaches of the law.
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