ED questions Shah Rukh Khan over sale of Knight Riders shares

November 11, 2015

Mumbai, Nov 11: The Enforcement Directorate has recorded the statement of Bollywood actor Shah Rukh Khan in a matter of alleged irregularities in the sale of shares of Knight Riders Sports Pvt Ltd (KRSPL) to a Mauritius-based company.

sharukh"We recorded Khan's statement yesterday in connection with the violation of Foreign Exchange Management Act," ED sources here said.

The case, dating back to 2008-09, pertains to the share sale of KRSPL, owned by Khan's Red Chillies along with Juhi Chawla and her husband, to a Mauritius-based company owned by Chawla's husband Jay Mehta.

ED is probing allegations that shares sold to the Jay Mehta-owned Sea Island Investments were undervalued by eight to nine times.

Khan had faced ED once in 2011 when he was questioned about alleged foreign exchange violation of around Rs 100 crore.

At the time of incorporation in 2008, Red Chillies had 9,900 shares of KRSPL. The valuation report, made by ED's external agency last year, said that when the equity shares of KRSPL were issued to Sea Island Investments, the fair value per equity share of KRSPL should have been between Rs 70-86. However, the shares were issued at a value of Rs 10 each.

According to the Foreign Exchange Management Act (FEMA), the price of shares issued to persons residing outside India should not be lower than the price worked out under the guidelines set by stock market regulator SEBI in case of a listed company, or on the basis of fair valuation of shares by a chartered accountant as per guidelines of the erstwhile Controller of Capital Issues (CCI).

Officials said that Khan cooperated with them and has provided them with some documents related to the transfer of shares.

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News Network
April 12,2020

Los Angeles, Apr 12: Pop star Rihanna has asked her fans, who are demanding her to release her new album soon, to back off as her prime focus right now is doing her bit in saving the world from the coronavirus pandemic.

The Grammy winner was one of the first Hollywood personalities who pledged support towards the relief efforts in fighting the COVID-19 outbreak.

Rihanna has been teasing new for quite some time now and eager admirers got an earful from her during an Instagram Live. Her last studio album was 'Anti' which was released in 2016.

Taking a swipe at US President Donald Trump, the Barbadian singer said, "If one of y'all ask me about the album one more time when I'm tryna save the world, unlike y'all president....on sight."

Rihanna's non-profit organisation Clara Lionel Foundation (CLF) and Twitter CEO Jack Dorsey recently donated USD 2.1 million each to help victims of domestic violence in Los Angeles during the COVID-19 stay-at-home order.

Also CLF and and rapper Jay-Z's Shawn Carter Foundation donated USD 2 million to support undocumented workers, the incarcerated, homeless and elderly populations, and children of frontline healthcare workers in Los Angeles and New York City amid the coronavirus pandemic.

Earlier, Rihanna, through CLF, also donated USD 5 million to support Direct Relief, Partners In Health, Feeding America, the International Rescue Committee and World Health Organization's COVID-19 Solidarity Response Fund as they continue to fight the pandemic in the US, the Caribbean and Africa.

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News Network
February 19,2020

Washington, Feb 19: Popular Indian-American stand-up comedian Hasan Minhaj, who has been critical of both US President Donald Trump and Prime Minister Narendra Modi, would perform at the annual dinner of the White House Correspondents Association.

Hasan Minhaj, whose parents come from Aligarh in Uttar Pradesh, will serve as the entertainer at the event.

Kenan Thompson, the actor, and longest-tenured Saturday Night Live cast-member will serve as the host for the annual White House Correspondents Association's (WHCA) dinner on April 25.

"Hasan Minhaj, the Peabody award-winning host of Netflix's Patriot Act with Hasan Minhaj, will return to the dinner as featured entertainer," the WHCA announced.

"Kenan and Hasan are two of the most engaged and engaging entertainers in America. I'm thrilled they'll help us celebrate the role of a free press in our democracy," said Jonathan Karl, Chief White House Correspondent for ABC News and president of the WHCA.

"We're looking forward to a lively evening honouring the most important political journalism of the past year," he said.

President Trump who has skipped the WHCA dinner for the last three years is unlikely to attend this time as well.

Hasan Minhaj has hosted his Netflix show since 2018, drawing critics' raves, including a Peabody award in 2019, for his humorous and informed examination of issues of domestic and global import.

He was the entertainer at the 2017 WHCA Dinner when he was a senior correspondent on The Daily Show. His one-hour Netflix comedy special Hasan Minhaj: Homecoming King was released in 2017, for which he won his first Peabody Award in 2018.

Kenan Thompson began his career as a member of Nickelodeon's sketch series All That. Kenan Thompson is currently in his 17th season on SNL where he has set a record for the most celebrity impressions performed on the show.

In 2018, he received an Emmy Award for Outstanding Original Music and Lyrics and a nomination for Outstanding Supporting Actor in a Comedy Series.

At its annual dinner, WHCA will be presenting two new awards at the 2020 dinner: The Katharine Graham Award for Courage and Accountability and the Award for Excellence in Presidential News Coverage by Visual Journalists.

These are in addition to the longstanding Aldo Beckman Award for Overall Excellence in White House Coverage and Merriman Smith Award for Excellence in Presidential News Coverage Under Deadline Pressure.

This year's dinner will also include the inaugural presentation of the Collier Prize for State Government Accountability, administered by the University of Florida''s College of Journalism and Communications to recognize outstanding statehouse reporting.

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News Network
January 9,2020

Mumbai, Jan 9: Actor Juhi Chawla on Wednesday said instead of constantly criticising the government, one should reflect on own conduct and talk about uniting rather than dividing.

The actor attended an event which aimed to counter "Free Kashmir (narrative), anti-India slogans, false propaganda and clear the misconception."

Juhi said as artistes, it's unfair to be questioned about incidents "just for a reaction" when they should be given time to truly understand the situation.

"We are going to work, thinking how to execute our task, then some incident happens somewhere and suddenly the media asks, 'what do you think about this?' We haven't understood the matter, people haven't understood the matter but you need a reaction.

"Let people understand, whether it's NRC or CAA, and what's is it about, why is this being talked about," Juhi told reporters.

The actor said it is sad that people talk about division more than unity.

"Everyone is quick to talk about dividing. Why don't we talk about uniting? Why does everyone say 'what is the government doing, why is it doing this?' but I say if you point one finger there then three fingers are at you.

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