Shah Rukh Khan is the co-owner of IPL team Kolkata Knight Riders. (File Photo)
The Enforcement directorate (ED) has issued notice to Bollywood superstar and IPL team owner Shah Rukh Khan. ED served this notice on Shah Rukh Khan in connection with the selling of Kolkata Knight Riders’ share. Khan has been asked to appear by month-end over irregularities in valuing shares.
According to media reports, ED has found some audit findings indicating forex violation of around Rs 100 crore. The audit has arrived at a conclusion that the transfer of shares between Knight Riders Sports Pvt Ltd (KRSPL) and Jay Mehta-owned Sea Island Investment (SIIL) was undervalued by the entities involved.
The ED has surmised that the value of shares issued to the Mauritius-based entity SIIL appears to be inconsistent with the pricing guidelines.