Kozhikode/Chennai, April 5:
The Enforcement Directorate (ED), Cochin Zonal Office, carried out search operations on April 4 and 5, 2025, under the provisions of the Foreign Exchange Management Act (FEMA), 1999. The searches were conducted at one location in Kozhikode, Kerala, and two locations in Chennai, Tamil Nadu, targeting the residential and business premises of M/s Sree Gokulam Chits and Finance Co Pvt Ltd.
According to official sources, the raids resulted in the seizure of Rs 1.50 crore in cash along with incriminating documents suggesting violations of FEMA provisions.
The ED’s action is part of an ongoing crackdown on financial irregularities and cross-border transactions in violation of regulatory norms. The documents seized are currently under scrutiny, and further investigation is underway to ascertain the full scope of violations and trace potential money laundering links.
Authorities have not ruled out additional searches or questioning of key individuals associated with the company.
