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Enforcement Directorate questions SRK on alleged forex violation

News Agencies | Updated on: 13 February 2017, 8:30 IST

Actor Shah Rukh Khan was questioned by Enforcement Directorate (ED) officers for about four hours on 10 November in connection with a foreign exchange (FOREX) violation case.

According to reports, the questioning took place at the ED's regional headquarters, which is located at Ballard Estate in South Mumbai.

ED officers reportedly questioned Khan about sale of Kolkata Knight Riders (KKR) team shares at lower prices to a Mauritius based company in 2009. Khan reportedly told the officials that in 2009, the IPL and KKR were not profit making ventures and accordingly they evaluated the share prices at that point of time.

He denied any wrongdoing in the process and stated that valuation of shares increased afterwards.

The ED had registered a case against KKR and three other IPL teams under Foreign Exchange Management Act (FEMA) and summoned Khan twice in the past to record his statement, but the actor was busy with his film schedules and couldn't visit the ED to record his statement.

The Mauritius-based company, Sea Island Investment (SIIL), was owned by Jay Mehta, husband of actor and KKR promoter Juhi Chawla. KKR had issued equity share of the IPL team to SIIL on face value of Rs 10 per share, but an audit indicated that share value of per share could more than Rs 70.


First published: 12 November 2015, 8:50 IST