ED summons Shah Rukh Khan over sale of IPL team

ED summons Shah Rukh Khan over sale of IPL team
Tuesday, October 27, 2015 12:07 IST
By Santa Banta News Network
The Enforcement directorate has again issued summons to Kolkata Knight Riders co-owner Shah Rukh Khan for allegedly violating Foreign Exchange Management Act (FEMA) norms.

The ED had earlier sent a notice to Shah Rukh Khan in May 2015.

The Kolkata Knight Riders Sports Pvt Ltd, co-owned by Shah Rukh Khan, Juhi Chawla and her husband Jay Mehta, is suspected to have violated FEMA norms by undervaluing its shares in a transfer deal.

According to reports, the ED believes that the KKR shares sold to a Mauritius company in 2008 were undervalued.

The actor is said to have sought more time to appear before the ED, citing that he is out of town for a few days.
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