ED summons Shah Rukh over IPL probe again
The Enforcement Directorate (ED) has once again summoned actor Shah Rukh Khan, the owner of the Kolkata Knight Riders franchise, in connection with the ongoing investigations into irregularities in the Indian Premier League (IPL).
Khan had been summoned in May too, but he had sought time to appear before the investigating agency. Neither Khan nor any KKR official could not be reached for comment. The actor is currently out of town shooting for Rohit Shetty’s movie, Dilwale.
Shah Rukh Khan summoned by Enforcement Directorate in connection with ongoing IPL investigation
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The ED is investigating two separate sales of shares by the KKR in 2009 and 2010 to Sea Island Investment Ltd, a Mauritius-based company.
The agency has alleged that the shares were undervalued. The allegations are based on a report submitted by chartered accountancy firm, Chokshi & Chokshi LLP.
According to sources, Chokshi & Chokshi was appointed to audit the value of the equity shares of certain IPL franchises to arrive at the
correct valuation of the sales of shares.
A major contention of some of the IPL franchises is that sale of shares in the early days of the IPL was at a time when there was little in terms of valuations, with controversy surrounding the league.
