ED summons SRK over KKR shares row

Nearly after five months, the agency issued its third summon to Shah Rukh Khan, who is busy in shooting at Hyderabad. He is required to be present before the agency by first week of November, ‘ a source reportedly said.

ED said Shah Rukh being a huge personality should have not of such things for sure.

The Enforcement Directorate has issued fresh summons to Shah Rukh Khan for violating Foreign Exchange Management Act (FEMA) rules over a deal of Kolkata Knight Riders. According to the latest update, SRK has received a summon from Enforcement Directorate (ED).

The agency has already recorded the statements of Chawla and Mehta.

The last time the ED had issued notices to a member of the management in connection with the case. Even today, we are expecting a Red Corner Notice (RCN) from Interpol against Modi by the end of October. “But Khan could not make it till now, as he is busy shooting”, said the ED official. An e-mail sent to KKR remained unanswered.

The case is from 2008, when KRSPL sold shares to Mehta-owned Sea Island Investment for 8-9 times below their original value.

The audit report stated that when equity shares of KRSPL were issued to SIIL, the fair value of KRSPL shares should have been between Rs 70 to Rs 86 per share.

“To get answers on these information/details, the questioning of SRK is very crucial”.