Enforcement Directorate (ED) has issued notices for adjudication to actor Shah Rukh Khan and some others in connection with a FEMA case for alleged loss of Rs 73.6 crore foreign exchange related to the IPL T-20 cricket league. Officials said that the actor has been asked to be present before the adjudicating authority of the case in Mumbai on 23rd next month. The authority, in this case, is a special director-rank officer of the agency.<br/><br/>Officials said, the notice has also been issued against few others involved in the case, where the Enforcement Directorate had issued a show cause notice under the Foreign Exchange Management Act (FEMA) in March. The case pertains to the show cause notice where the central probe agency had issued notices to Khan, his wife Gauri, actor-friend Juhi Chawla and Knight Riders Sports Private Limited (KRSPL), which owns the Indian Premier League (IPL) team of Kolkata Knight Riders (KKR).<br/><br/>The show cause notice had been issued for the sale of some shares of KRSPL to a Mauritius-based firm at a cost lower than their "actual value", resulting in loss of foreign exchange to the extent of Rs 73.6 crore. While Gauri is a director of KRSPL, Shahrukh Khan and Juhi Chawla are the owners of the IPL team KKR.
News On AIR | July 21, 2017 7:55 AM
ED issues notices for adjudication to Shah Rukh Khan in connection with FEMA case