Kochi/Chennai, April 5, 2025: The Enforcement Directorate (ED) on Friday launched a series of searches at premises linked to Kerala-based businessman and film producer Gokulam Gopalan in connection with an alleged Rs 1,000-crore violation under the Foreign Exchange Management Act (FEMA). Gopalan is one of the producers of L2: Empuraan, the recently released Malayalam political thriller that has stirred nationwide debate.
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According to ED sources, the searches were conducted by the agency’s Kochi office at five locations across multiple states, including Gopalan’s farmhouse in Neelankarai and his company office in Kodambakkam, Chennai. The raids also targeted premises in Kochi and other locations associated with Sree Gokulam Chit and Finance Co Ltd, a chit fund company headed by Gopalan. The ED is investigating alleged illegal foreign exchange transactions involving Non-Resident Indians (NRIs) and unauthorised dealings linked to Gopalan’s finance company. Officials indicated that the total value of FEMA violations under the scanner is approximately Rs 1,000 crore. Sources also mentioned that certain pending cheating cases against the company are being reviewed for potential prosecution under the Prevention of Money Laundering Act (PMLA).
The crackdown comes at a time when L2: Empuraan—the sequel to the 2019 blockbuster Lucifer—has been under fire for its political undertones. The film, which was released on March 27 in four languages, allegedly references the 2002 Gujarat riots and critiques right-wing politics, sparking widespread backlash from political groups.
Co-produced by Antony Perumbavoor, Subaskaran, and Gopalan under banners including Aashirvad Cinemas, Sree Gokulam Movies, and Lyca Productions, L2: Empuraan is among the most expensive films in Malayalam cinema history. Directed by Prithviraj Sukumaran and written by Murali Gopy, the movie features a star-studded cast including Mohanlal, Manju Warrier, Suraj Venjaramoodu, and international actors Jerome Flynn and Eriq Ebouaney. Following the uproar, actor Mohanlal expressed regret and confirmed that the controversial scenes would be removed. Producer Antony Perumbavoor revealed earlier this month that over two minutes of footage had already been deleted to address concerns.
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As the ED continues its probe, industry insiders say the raids could have a lasting impact on the financial networks within South India’s film production circles. Gopalan or his company has yet to issue an official statement in response to the ongoing investigation.