IPL FEMA probe: ED records SRK statement; final notice soon

November 12, 2015 14:29

With the Enforcement Directorate recording statement of Bollywood actor Shah Rukh Khan in a foreign exchange violations case, investigations into a major case of alleged financial irregularities in T-20 cricket tournament IPL is set to complete soon.

Khan is being probed on a specific charge of irregularities in the sale of shares of Knight Riders Sports Pvt Ltd (KRSPL), a franchise owned by his company Red Chillies Entertainment, to a Mauritius-based company.

Sources said the agency, after this questioning, is expected to issue a final show-cause notice by December or early next year under FEMA in the probe involving Kolkata Knight Riders (KKR) and related entities.

The sources said the recent questioning happened when the actor reached the agency's office in Ballard Estate in Mumbai on the evening of November 10 and spent over three hours with the investigators probing the case under provisions of the Foreign Exchange Management Act.

Khan could not be reached for comments.

The case, dating back to 2008-09, pertains to the share sale of KRSPL, co-owned by Khan and his co-actor and friend Juhi Chawla and her husband Jay Mehta, to a Mauritius-based company owned by Mehta.

« Back to LIVE

TOP STORIES

Russia to deliver 2 more S-400 missile system regiments to India next year

According to the original timeline, the ships were to be delivered by 2022, they said, attributing the delays in the delivery to Russia's war in Ukraine.

Will Nilesh Kumbhani join BJP? Cong says lost contact with him

Local Congress workers, led by city unit's working president Dinesh Savalia, staged a protest outside Kumbhani's locked house in Puna Gam area, calling him traitor and accusing him of giving a walkover to the BJP.

UPA govt took no military action after 26/11 because...: Jaishankar

Describing India as a voice of the 'Global South' (comprising about 125 countries), he said the countries of the Global South trust India to take up their cause and positions in the world.

X user booked over deepfake video of Ranveer Singh

Ranveer Singh never said this, and he does not have any relation with any political party, his father said in the complaint.

Military strength, capabilities must to prevent wars: Army chief

Addressing an event in New Delhi, Gen Pande also said the recent global developments have underscored that the security of the nation can neither be outsourced nor be dependent on the largesse of others.