New Delhi. Mohanlal starrer film L2: Empuraan is performing well in terms of earnings. This Malayalam film has also given competition to the collection of Bollywood movies. Apart from the success of the film, its makers are in the news these days. On Friday, ED started raiding the makers’ property and issued a statement after it ended on Saturday.
The Enforcement Directorate (ED) raided the premises of Sri Gokulam Chits and Finance Company Private Limited, owned by Kerala businessman and Malayalam film L2: Empuraan co-producer Gokulam Gopalan, in an alleged violation of the Foreign Exchange Management Act (FEMA). The action started on Friday and ended on Saturday.
ED recovered 1.5 crores
According to a PTI report, ED issued a statement after the raid was over. It was informed that the raid was conducted at one residential and two commercial premises located in Kozhikode, Kerala and Chennai, Tamil Nadu. During the search, Rs 1.5 crore in cash along with several objectionable documents related to FEMA violations were seized.
ED also informed in its statement that they had received intelligence that the company was collecting subscription money for chit funds in cash from persons living outside India, which is a violation of Reserve Bank of India (RBI) guidelines. This collection was considered to be in violation of RBI Circular No. 107 of June 11, 2015 and FEMA Regulation 4 (B).
What is the allegation against the company?
According to ED, the company has so far collected Rs 3,71.80 crore in cash and Rs 220.74 crore through cheques from NRIs. Also, cash payments were also made to people living outside India, which is a clear violation of Section 3 (B) of FEMA.
At present, no official statement has been issued by Gokulam Gopalan or his company in this entire matter. The other producers of the film L2: Empuraan are Antony Perumbavoor (Aashirvaad Cinema) and Subaskaran (Lyca Productions). After all the controversies surrounding the film, two minutes of scenes have been removed. It is worth noting that no controversy is affecting the film’s earnings, as the collection graph is constantly going up.
