Top
Begin typing your search above and press return to search.
exit_to_app
When those bound to protect cause misery
access_time 2021-04-23T11:33:22+05:30
Iran and the revival of JCPOA
access_time 2021-04-23T13:21:09+05:30
The future of Afghan peace talks
access_time 2021-04-21T11:13:53+05:30
When democracy becomes the first casualty
access_time 2021-04-19T11:55:07+05:30
DEEP READ
Iran and the revival of JCPOA
access_time 2021-04-23T13:21:09+05:30
A model mosque in Gujarat
access_time 2021-04-12T17:13:34+05:30
Towards a digital emergency?
access_time 2021-02-27T14:50:41+05:30
The slaughter of democracy in Puducherry
access_time 2021-02-24T11:27:21+05:30
Populist Fascism
access_time 2021-01-31T17:19:29+05:30
Media Freedom
access_time 2021-01-31T15:47:07+05:30
exit_to_app
Homechevron_rightEntertainmentchevron_rightShah Rukh gets second...

Shah Rukh gets second ED summons in six months

text_fields
bookmark_border
Shah Rukh gets second ED summons in six months
cancel

Mumbai: For the second time in six months, the Enforcement Directorate (ED) has slapped a notice summoning Bollywood superstar Shah Rukh Khan in connection with the valuation of shares of his co-owned IPL cricket team, Kolkata Knight Riders, sources said here on Tuesday.

The ED is investigating whether the shares of the team were allegedly undervalued as it could be violative of the provisions of Foreign Exchange Management Act (FEMA).

Earlier, the ED had served a notice to the team in May this year but Shah Rukh had not appeared before the agency.

Prior to that, Shah Rukh was quizzed in 2011 for allegations that KKR had received illegal money transferred from certain foreign tax havens.

The company Knight Riders Sports Pvt Ltd, which runs the KKR team, is jointly owned by Shah Rukh, actress Juhi Chawla and her husband Jay Mehta.

It is alleged that five million shares of KRSPL were sold to Mehta's company, Sea Islands Investments Ltd, based in Mauritius in 2008 and were reportedly undervalued.

Shah Rukh is away on a film shooting assignment and sought time to appear before the investigating agency which has not set any time-frame on the issue.

In 2011, Shah Rukh was directed to provide relevant documents including the purchase of players, revenues, advertising details and the team's shareholding pattern.

Show Full Article
TAGS:
Next Story