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    ED raid on Gokulam chit fund offices in chennai
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    Gokulam Gopalan's chit fund office in Chennai, which is facing ED raids.

    FEMA case: ED raids Chennai, Kozhikode offices of Empuraan co-producer Gopalan

    ED team searches Gokulam Gopalan's chit fund office in Kozhikode, corporate office at Chennai's Kodambakkam, and farmhouse in Neelankarai

    Mahalingam Ponnusamy
    4 April 2025 8:20 AM

    A team from the Enforcement Directorate’s (ED) Kochi unit is questioning AM Gopalan, known as 'Gokulam Gopalan', at his office in Kozhikode, with a simultaneous raid on his properties in Chennai linked to his Sree Gokulam Chit & Finance Co Pvt Ltd.

    The Kerala-led operations swept through multiple locations, including a chit fund office in Kozhikode, the corporate office at Sree Gokulam Towers in Kodambakkam, Chennai, and a farmhouse in Neelankarai, Chennai. Gopalan, co-producer of the controversial film Empuraan, is facing ED scrutiny amid speculation of financial irregularities, with sources suggesting a possible Foreign Exchange Management Act (FEMA) case.

    Also read: ED raids home, offices of industrialist, Empuraan producer Gokulam Gopalan

    ED sources told The Federal that in Kerala, it is searching his residence at Vadakara, Gopalan’s hometown, and a key Gokulam Chit Fund office in Kozhikode. In Tamil Nadu, the agency hit the Kodambakkam office at No 66, Arcot Road — a hub for the company’s 480-plus branches — and the Neelankarai farmhouse, believed to be tied to Gopalan or his family, which includes his son Baiju Gopalan and son-in-law VC Praveen.

    The multi-state operation echoed the 2017 Income Tax raids that had uncovered ₹1,100 crore in tax evasion across 78 locations tied to the chit fund giant. Sources said the probe is being conducted on the grounds of potential financial misconduct, though the ED has not specified the predicate offence.

    'Empuraan' controversy

    It may be recalled that L2: Empuraan, co-produced by Gopalan, has raised much controversy.

    The Malayalam film was released on March 27, and raised right-wing ire due to its depiction of the 2002 Gujarat riots. It was perceived as a critique of right-wing politics.
    Directed by Prithviraj Sukumaran and starring Mohanlal, the film portrays a Hindutva-inspired antagonist orchestrating violence against Muslims, drawing ire from Hindu nationalist groups who label it as "anti-Hindu" and accuse the film of distorting history.
    The backlash, amplified by the RSS mouthpiece Organiser, led to calls for bans and cuts, with producers, including Gokulam Gopalan, agreeing to 24 voluntary edits despite initial clearance by the Censor Board.
    Meanwhile, Kerala's Left and Congress leaders have rallied in support, framing the row as an attack on artistic freedom, while the film continues its record-breaking box office run, grossing over ₹250 crore worldwide.

    Gokulam Chit Fund

    Founded in 1968, Gokulam Chit Fund posted a turnover exceeding ₹7,000 crore, with operations across Tamil Nadu, Kerala, Karnataka, and beyond. Gopalan, who hails from Vadakara, built his empire from Chennai, has ventured into entertainment.
    Empuraan's prominence has intensified scrutiny on the raids, which is being led by the Kerala ED unit.
    The raids have stirred reactions across both states. Some see them as a routine financial probe, while others hint at political motives, given the buzz and controversy surrounding Empuraan and Gopalan’s influence.
    Gokulam Group has offered no comment, and the ED has only acknowledged an ongoing investigation.
    With inputs from Rajeev Ramachandran in Kochi.
    KeralaEnforcement Directorate (ED)Chennaichit funds
    Mahalingam Ponnusamy
    About the AuthorMahalingam Ponnusamy
    Mahalingam Ponnusamy is Editor - Special Projects with The Federal.
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