Actor Shah Rukh Khan was questioned by the Enforcement Directorate for around 3 hours on Tuesday regarding the alleged undervaluation of the shares of the company that runs the IPL team Kolkata Knight Riders. This was the third time he was questioned in the case.
It is alleged that five million shares of Knight Riders Sports Private Limited were sold to Jay Mehta’s company, Sea Islands Investments Ltd, in 2008 and were allegedly undervalued. “KKR is suspected to have violated FEMA (Foreign Exchange Management Act) norms,” according to reports.
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