Shah Rukh Khan summoned by ED over share valuation of Knight Riders Sports
Bollywood superstar Shah Rukh Khan has been summoned by Enforcement Directorate over alleged foreign exchange violations. Reports suggest that the forex violations actually seem to be related to the ownership of the Indian Premier League (IPL) team, Kolkata Knight Riders.
But thus far the Enforcement Director hasnâ€™t made it clear as to why it has issued summons for Bollywood superstar Shah Rukh Khan.
There is no denying the fact that one of the biggest names in the Indian film industry, Shah Rukh Khan movies always do well with most of his films making on the list of top grosser almost every year.
The actor who will turn fifty later this year has reportedly been issued a notice by the ED over alleged irregularities in the valuation of shares of Knight Riders Sports Limited that were transferred to Mauritius-based Sea Island Investment Limited. Khan has been asked to appear for questioning by the month-end, the reports said.
This is not the first time that one of the highest income tax payee in the country will be questioned by taxmen. He was questioned once before on money from foreign tax havens allegedly being invested in the multi-crore Indian Premier League (IPL). Sometimes ago a leading Mumbai daily, The DNA had reported that the ED had stumbled on audit findings indicating forex violations of around Rs 100 crore related to the Kolkata Knight Riders.