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The film, which has been both a commercial success and a topic of controversy, is the sole Malayalam title competing in the Best Film category.

The film, scripted by Murali Gopy, was released on March 27 to mixed reviews but saw a massive turnout in the initial days

While L2: Empuraan has built a reputation through the Lucifer franchise, Bazooka is trying to carve out its own unique space in the industry

The film, directed by Prithviraj Sukumaran, also set the record of the first Malayalam film to enter the Rs 100-crore club in 48 hours of release.

The search, which concluded on Saturday, was part of an ongoing probe into alleged violations of the Foreign Exchange Management Act (FEMA).

Despite the recent dip, L2: Empuraan has been a massive success.