According to media reports, Bollywood superstar Shah Rukh Khan has been summoned by the Enforcement Directorate (ED) over alleged foreign exchange violations related to his ownership of the IPL team Kolkata Knight Riders.
A notice has been issued by ED over alleged irregularities in the valuation of shares of Knight Riders Sports Limited that were transferred to Mauritius-based Sea Island Investment Limited. As per reports, Shah Rukh has been asked to appear for questioning by the month-end.
The actor was questioned once before on money from foreign tax havens allegedly being invested in the multi-crore Indian Premier League (IPL).
In the month of March, a leading daily had reported that the ED had stumbled on audit findings indicating forex violations of around Rs 100 crore related to the Kolkata Knight Riders.
The leading daily had quoted its sources saying that an audit done by Choksi & Choksi for the ED concluded that the transfer of shares between Knight Riders Sports Pvt Ltd and Jay Mehta-owned Sea Island Investment was undervalued by the entities involved.