Shah Rukh Khan in Trouble Again

Bollywood star and Kolkata Knight Riders owner Shah Rukh Khan has been summoned by the Enforcement Directorate over alleged violation of foreign exchange rules in connection with the Indian Premier League.

Reports say a summon has been issued to Shah Rukh and other promoters of the Kolkata Knight Riders team. The matter is related to undervaluation of shares of KKR and forex violation. A recent audit had indicated that shares sold to a private company based in Mauritius had been undervalued. Audit has also found that the company of Shah Rukh did a forex violation of around Rs 100 crore.

Earlier last month, ED had summoned SRK questioning him about the violation, during the inquiry of IPL cricket teams which violated several rules of money transaction. An audit by ED concluded that Kolkata Knight Riders’ shares were undervalued during one such transfer transaction.

During the second season of IPL, SRK was similarly questioned on money illegally flowing into the multi-million dollar cricket league from foreign tax havens. Following which, the actor was then asked to submit documents relating to the buying of players, advertising, revenue and the share holding pattern of his franchise.

Now its left to see what consequences SRK will have to face this time. Keep watching this space for more updates!

Bollywood actor, Shahrukh Khan and Team shares of KKR have been found undervalued.

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