Superstar Shah Rukh Khan has been no stranger to controversies and hindrances. From his shocking scuffle in Wankhede to jumping into the intolerance bandwagon to being ridiculed for the illegal ramp outside his bungalow Mannat, SRK has been consistently in the news for reasons besides his films and other ventures. Sadly, the superstar is yet again in news for the wrong reasons.
The Enforcement Directorate today summoned the superstar and has asked for him to appear personally in front of them in connection with the FEMA (Foreign Exchange Management Act) Case of his IPL cricket team, Kolkata Knight Riders.
This summon is in connection with the case pertaining to the sale of some shares of Knight Riders Sports Private Limited (KRSPL), which owns Kolkata Knight Riders, to a Mauritius based firm at a lower cost than the actual value. This sale resulted in a loss of Rs 73.60 crores. A show case notice regarding the same was sent to Shah Rukh Khan, wife Gauri Khan and Kolkata Knight Riders co-owner Juhi Chawla.
As per the report filed by Enforcement Directorate, Shah Rukh Khan’s company Red Chillies Enterprises Private Limited is a wholly-owned subsidiary of Red Chillies International Limited. Red Chillies owns KRSPL and they had 9,900 shares in 2008. The price of each share was estimated between Rs 70-86 and yet, these shares were issued at a price of Rs. 10 each.
Click HERE to read the original article.