Shah Rukh Khan summoned for IPL financial irregularities
news Wednesday, May 13, 2015 - 05:30
Bollywood actor Shah Rukh Khan has been summoned for questioning by the Enforcement Directorate (ED) for irregularities in connection with the Indian Premier League (IPL). According to an NDTV report, the 49-year-old star who owns the Kolkata Knight Riders franchise in the IPL has been asked to appear before the ED by the end of May. Khan had earlier been examined during the second season of the IPL with regard to foreign investment into the IPL from tax havens. The actor had been questioned four years ago in Mumbai. Sources tell the TV channel that Khan was asked to submit documents related to buying of players, advertising, revenue and the share-holding pattern of his franchise. A DNA report mentions that the ED had come across a Rs 100-crore forex violation during audit findings. The audit had reportedly found an undervaluation of shares during their transfer between Knight Riders Sports Pvt Ltd (KRSPL) and Jay Mehta-owned Sea Island Investment (SIIL). The ED had said earlier that the valuation of the shares were inconsistent with the pricing guidelines.