Indian actor Shah Rukh Khan has been questioned by investigation officials for three hours over allegation of irregularities in the finances of his IPL team Kolkata Knight Riders, Indian media reported on Wednesday.
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After actor Shah Rukh Khan being grilled by ED on Diwali-eve, Congress today wondered whether the superstar has faced the wrath of the authorities for speaking up on the issue of intolerance.
“We recorded Khan’s statement yesterday in connection with the violation of Foreign Exchange Management Act”, ED sources here said.
On Tuesday, Shah Rukh responded to the second summons in six months issued by the ED in mid-October pertaining to the probe into the alleged irregularities in the sale of shares of Knight Riders Sports Pvt.
Shah Rukh denied devaluating the shares during the questioning.
Reports say that Khan co-operated with the officials and provided them with a few documents.
The ED has already recorded statement from Chawla and Mehta.
At the time of incorporation in 2008, Red Chillies had 9900 shares of KRSPL.
The valuation report, made by ED’s external agency previous year, said that when the equity shares of KRSPL were issued to Sea Island Investments, the fair value per equity share of KRSPL should be between Rs 70-86.
If undervalued, it would be a violation of the Foreign Exchange Management Act.
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Khan was formerly questioned in 2011 over allegations that funds were received by his team illegally from foreign tax havens. 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.
