ED raids Sree Gokulam Group's offices, questions Gokulam Gopalan

CHENNAI: Following raids at the Chennai and Kozhikode offices and residences of the Sree Gokulam Group, the Enforcement Directorate (ED) summoned and interrogated chairman Gokulam Gopalan in Chennai. Gopalan, who was in Kozhikode at the time, reached Chennai on Thursday night in response to the ED’s directive. The questioning began around 8:30 PM at the corporate office in Kodambakkam.

The raid conducted following the controversy related to Empuraan, a film in which Gokulam Gopalan was a production and distribution partner, has raised suspicions and allegations that it may have been politically motivated.

The raids took place at several locations, including the corporate office in Kodambakkam, nearby branches, Gopalan's residence in Neelankarai, Gokulam Grand Hotel in Kozhikode, and Gokulam Mall. The searches continued through the night in Chennai. In Kozhikode, the raid concluded at around 4 PM. Gokulam Gopalan, who had arrived in Kozhikode to attend a meeting of the group's board of directors, was questioned in detail by ED officials. Following the raid, he was urgently flown to Chennai along with ED officials.

Investigation focusing on Rs 1,107 crore
The ED is primarily investigating Rs 1,107 crore that the Gokulam Group received over the past five years in the form of foreign investments and other inflows. Sources indicate the investigation is an extension of proceedings initiated by the Income Tax Department in 2017, with the ED launching its inquiry in 2019. The agency is probing the origin of the suspected investment money and looking into possible violations of the Foreign Exchange Management Act (FEMA) and the Prevention of Money Laundering Act (PMLA). The ED's Chennai unit led the raids, with support from its Kochi and Kozhikode units.

The Sree Gokulam Group institutions were previously scrutinized by the Income Tax Department in 2017. The ED’s current investigation is based on a report submitted by the Income Tax Department. In 2023, the ED had recorded a statement from Gokulam Gopalan at its Kochi office.