Enforcement Directorate summoned Shah Rukh Khan on July 23, in connection with Kolkata Knight Riders Foreign Exchange Management Act (FEMA) case.
Kolkata Knight Riders co-owner Shah Rukh Khan was issued a personal hearing notice by the Enforcement Directorate in the case pertaining to the Indian Premier League. The agency has sought Bollywood superstar for personal hearing on July 23.
The ED said it has also issued a notice to Knight Riders Sports Private Limited (KRSPL), a franchise owned by Khan’s company Red Chillies Entertainment, which owns the IPL team of KKR.
The summon is in connection with the case pertaining to the sale of some shares of KRSPL to a Mauritius-based firm at a cost lower than their actual value. The sale has resulted in a loss of Rs 73.6 crore.
Also, earlier this year, Shah Rukh Khan, wife Gauri Khan, actress Juhi Chawla and others, was sent show cause notice by ED for “contravention of provisions of the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000 made under the FEMA.”
While Gauri is a director at KRSPL, Shah Rukh and Juhi are co-owners of two-time IPL champions KKR.
The case against the Shah Rukh Khan is an old one as he has been summoned twice earlier for the same. Now the penalty to be charged against SRK will be decided by adjudicating authority of the agency.