ED issues summons to Shah Rukh Khan and other IPL team owners

ED issues summons to Shah Rukh Khan and other IPL team owners: The Enforcement Directorate (ED) of India has issued summons to Kolkata Knight Riders (KKR) team co-owner Shah Rukh Khan and other Indian Premier League (IPL) team owners and management. Reports emerging in a certain section of the media suggested that the summons were for alleged violation of the forex policy.

An audit report by the ED had found that the team and its shares were undervalued while carrying out a transfer. Following which the Directorate issued notice to SRK along with co-owner and promoters Juhi Chawla and Jay Mehta over allegations of there being irregularities in the manner in which the shares of Knight Riders Sports Limited were valued and transferred to Sea Island Investment Limited a Mauritius based company.

Several raids were carried out in major cities across the country, which led the ED to unearth betting racket in the IPL along with several other money laundering cases and since then it has been keeping a constant eye on all the transactions and dealing carried on by the teams as well.

The department has asked the Bollywood actor to be present before it by the end of the month for interrogation.

Along with those of the KKR, the ED is also investigating the allegations of several IPL teams opting to undervalue their shares to make gains, which led to foreign exchange violations.