Shah RukhShah Rukh Khan grilled for 3 hours over alleged FEMA violations Khan grilled for 3 hours over alleged FEMA violations
An ED officer said, “In spite of earning a profit in the first few IPL seasons, Shah Rukh failed to provide any satisfactory explanation for selling the equity shares within a year, that too to a company situated in a tax haven”.
Mumbai, November 11 (PTI): The Enforcement Directorate has recorded Shah Rukh Khan’s statement in connection with alleged irregularities in the sale of shares of Knight Riders Sports Pvt Ltd to a Mauritius-based company.
ED is probing allegations that shares sold to the Jay Mehta – eight undervalued owned Sea Island Investments to nine times. Ltd (KRSPL) to a Mauritius-based company.
It is true that a few activists and witnesses that troubled the BJP previously, started facing the heat after June 2014, but the case involving Shah Rukh, Juhi Chawla and her husband, dates back to 2008, while King Khan was also questioned by the ED in 2011.
This statement might find relevance in cases like that of activists like Teesta Setalvad and other environment protection NGOs but the Congress is alleging that superstar Shah Rukh Khan might just be the latest victim of vendetta politics.
Shah Rukh Khan owns the IPL team Kolkata Knight Riders and takes active interest in the cricket league. The ED is investigating whether the shares of the team were allegedly undervalued as it could be violative of the provisions of the Foreign Exchange Management Act (FEMA). KKR had issued equity share of the IPL team to SIIL on face value of Rs 10 per share, but an audit indicated that share value of per share could more than Rs 70. Officials said that Khan cooperated with them and has provided them with a few documents related to the transfer of shares.
