Bollywood star and Kolkata Knight Riders owner Shah Rukh Khan has been summoned by the Enforcement Directorate over alleged violation of foreign exchange rules in connection with the Indian Premier League.
Reports say a summon has been issued to Shah Rukh and other promoters of the Kolkata Knight Riders team. The matter is related to undervaluation of shares of KKR and forex violation.
A recent audit had indicated that shares sold to a private company based in Mauritius had been undervalued. Audit has also found that the company of Shah Rukh did a forex violation of around Rs 100 crore.
The issue has been under investigation by ED since 2010-11.
Shah Rukh, who is the owner of IPL franchise KKR, has been asked to appear by the month-end before the ED in Mumbai.
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