ED summons King Shahrukh Khan

shahrukhShah Rukh Khan, the king of Bollywood, the heart throb of India, the actor who is ruling Indian cinemas for more than a decade, needs no formal introduction. The king of Bollywood is also the owner of KKR, a cricket club playing in the IPL.  Recently the Enforcement Directorate (ED) has summoned King Khan for the second time due to the ongoing investigations into the irregularities in IPL.

ED had summoned Khan previously on May and he appeared also, but now neither he nor any of his officials from KKR could be reached for comment. Khan is currently busy for the shooting of Dilwale.

Currently ED is investigating KKR’s two separate sales of shares in 2009 and in 2010 to a Mauritius based company, Sea Island Investment LTD.

According to the ED these shares were alleged to be undervalued and the allegations are based on a report submitted by Choskhi and Choskhi LLD, a chartered accountancy firm.

This chartered accountancy firm was appointed to audit the value of the equality shares of various IPL teams and franchises, so that they arrive at a correct valuation for sales and shares.

A lot of controversy is surrounding throughout the entire league as many incorrect valuations have been found regarding the entire league.

About the author

After completing his MBA in Financial Management, he decided to shift to writing and took it as his full time career. Being the Editor-in-chief of this web magazine, he has got diverse interest in the field of politics and business related matters.