Enforcement directorate summons Shah Rukh Khan

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Wednesday, Oct 28, 2015

Enforcement directorate summons Shah Rukh Khan

The Enforcement directorate has again issued summons to Kolkata Knight Riders co-owner Shah Rukh Khan for allegedly violating Foreign Exchange Management Act (FEMA) norms,  on Tuesday.The ED had earlier sent a notice to Shah Rukh Khan in May 2015.

The Kolkata Knight Riders Sports Pvt Ltd, co-owned by Shah Rukh Khan, Juhi Chawla and her husband Jay Mehta, is suspected to have violated FEMA norms by undervaluing its shares in a transfer deal.

According to reports, it is alleged that five million shares of Knight Riders Sports Pvt Ltd were sold to Mr Mehta's company, Sea Islands Investments Ltd, based in 
Mauritius in 2008 and were reportedly undervalued. 

The actor is said to have sought more time to appear before the ED, citing that he is out of town for a few days.

 

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