Shahrukh Khan, Juhi Chawla summoned by ED for forex violation

Bollywood actors Shahrukh Khan and Juhi Chawla have been asked to appear before the Enforcement Directorate (ED) in a case related to Foreign Exchange Management Act (FEMA) by the end of May. The agency has also summoned Juhi’s entrepreneur husband Jay Mehta for an interrogation for an alleged violation of FEMA norms. The trio are co-owners of Kolkata Knight Riders IPL team.

ED officials suspect that Shahrukh’s KKR Sports Pvt Limited has violated the FEMA norms by undervaluing its shares in a transfer deal with Sea Island Investments Limited, an overseas company owned by Juhi’s husband.  

The agency had earlier sent a notice in March to them with regard to the forex violation.

However, Shahrukh’s office denied the reports saying the actor has not received any summon notices so far. They further added that in such cases, the notice would go to KKR Sports Pvt Ltd and not to any individual; as such the actor cannot be summoned. None of the trio has reacted to the reports so far.

Earlier in 2011, King Khan was asked to submit papers related to the buying of players, advertisement of the team, revenue and share-holding pattern of his IPL franchise. It was also alleged that his KKR team received money illegally from elsewhere during the second season of the tournament, and SRK was called for an interrogation.

The Indian Premier League or IPL is an annual cricket tournament founded in 2008.

Besides, Shahrukh, actresses Shilpa Shetty Kundra and Priety Zinta are also co-owners of teams Rajasthan Royals and Kings XI Punjab respectively.