Shah Rukh Khan questioned for Kolkata Knight Riders financial irregularities

The Congress today wondered whether the star was being hounded for speaking up against intolerance.

According to details released by Indian media, the Enforcement Directorate probed Shah Rukh in relation to alleged financial irregularities pertaining to IPL.

ED has slapped a notice summoning Shah Rukh in October, the second summon in six months.

I don’t think if this country is not going to be secular… the youngsters are not going to stand for it. This is the only advice I can give at 50.

He supported the artistes who were returning their awards and said symbolically, he would return his awards too.

Sources said the actor was questioned for nearly 3 hours and added that the actor denied any irregularities on his side.

The share transfer which is referred to here had happened in 2008-09, and probing has been taking place since 2010 under Foreign Exchange Management Act (FEMA).

Bollywood actress Juhi Chawla, her husband Jay Mehta and Shah Rukh Khan are co-owners of the KRSPL.

But the ED department insisted that shares sold to the Jay Mehta-owned Sea Island Investments were undervalued by eight to nine times.

The actor was quizzed for hours about the alleged undervaluation of the KKR company shares when they were sold in 2008. The valuation report, made by the ED’s external agency a year ago, said that when the equity shares of KRSPL were issued to Sea Island Investments, the fair value per share of KRSPL should have been between Rs 70 and Rs 86.

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