Shah Rukh to be questioned by ED for undervaluing KKR shares

Bollywood actor and co-owner of Indian Premier League franchise Kolkata Knight Riders, Shah Rukh Khan has been summoned by the Enforcement Directorate for forex violation.

Shah Rukh has been asked to appear by the month-end before the ED in Mumbai.

The matter is related to undervaluation of shares of KKR and forex violation.

According to reports, a recent audit had indicated that shares sold to a Mauritius based private firm had been undervalued and that the company of Shah Rukh was involved in a forex violation of around Rs 100 crore.

The issue has been under investigation by ED since 2010-11.

Image: Shah Rukh Khan

Photograph: Chirag Wakaskar-IPL 2010/IPL via Getty Images