Ernakulam: Enforcement Directorate (ED) has seized Rs 1.5 crore in cash during a search operation at the offices of Gokulam Group and the residence of its Chairman, Gokulam Gopalan. The search, which concluded on Saturday, was part of an ongoing probe into alleged violations of the Foreign Exchange Management Act (FEMA).

The agency also found that the company had collected ₹371.80 crore in cash and ₹220.74 crore via cheque from NRIs. It was also revealed that significant amounts were paid back in cash to these individuals, violating Section 3(b) of FEMA, 1999.

According to the ED, the seizure of ₹1.5 crore cash followed search operations........

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