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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Agencies
July 30,2020

New Delhi, Jul 30: On his 47th birthday on Thursday, actor Sonu Sood announced three lakh jobs for migrant labourers on the job portal 'Pravasi Rojgar' that he had launched earlier this month.

The 'Dabangg' actor who has launched several initiatives for helping migrant labourers of the country made the announcement about the additional three lakh jobs on his Instagram account.

Sood posted two flyers of the employment application and shared that the jobs came with additional benefits like PF and ESI.

"On my birthday a small initiative from my side...3 lakh jobs tied up for Pravasirojgar.com. All these will provide good wages, PF, ESI, and other benefits," he wrote in the caption.

He further went on to thank the organisations that had partnered with him for the initiative.
"Thank you AEPC, CITI, Trident, Quesscorp, Amazon, Sodex, Urban Co, Portea, and all others for creating these opportunities with me. #AbIndiaBanegaKamyaab @pravasirojgar," he wrote.

Hailed as the 'messiah' of migrant labourers, Sood has helped hundreds of thousands of migrants to reach their native places amid the coronavirus induced lockdown when many like them were walking back to their homes.

Besides labourers, he has also helped students and other people stranded in different parts of the country amid the lockdown. 

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News Network
January 24,2020

Paris, Jan 24: Rahul Mishra and Imane Ayissi made history on Thursday by becoming the first Indian and black African designers to show their clothes on the elite Paris haute couture catwalk.

Only a little more than a dozen of the world's most prestigious luxury labels -- including Dior, Chanel and Givenchy -- have a right to call their clothes haute couture.

All the clothes must be handmade -- and go on to sell for tens of thousands of euros (dollars) to some of the richest and most famous women in the world.

Mishra, an advocate of ethical "slow fashion" who blames mechanisation for much of the world's ills, said "it felt amazing and very surreal to be the first Indian to be chosen." "They see a great future for us -- which will make us push ourselves even harder," the 40-year-old told AFP after his debut show was cheered by fashionistas.

Both Mishra and Cameroon-born Ayissi, 51, are champions of traditional fabrics and techniques from their homelands and are famous for their classy lines.

Ayissi said his selection was "immense" both for Africa and himself.

"I am so proud that I can show my work and showcase real African fabrics and African heritage," he told AFP backstage as celebrities, including the chic head of Unesco, Audrey Azoulay, congratulated him.

Mishra broke through on the Paris ready-to-wear scene after winning the International Woolmark Prize in 2014, the top award that also launched the careers of such greats as Karl Lagerfeld and Yves Saint Laurent.

The purity of his often white creations with their detailed but understated embroidery has won him many fans, including Vogue's legendary critic Suzy Menkes.

The doyenne of fashion's front row called him an Indian "national treasure".

But this time, Mishra turned up the colour palette somewhat with dresses that subtly evoked the jungle paradises and pristine underwater world off the Maldives he worries that one day we might lose.

Appalled by the smoke and pollution that meant he had to keep his four-year-old daughter indoors in Delhi for nearly 20 days in November, Mishra said he imagined a "pure virginal and untamed planet... with ecosystems crafted out of embroidered flora and fauna".

"I am very emotional about it. Sometimes it makes me cry. All our children should be growing up in a better world," he added.

"When I take Aarna (his daughter) to the foothills of the Himalayas and the sky turns blue, she is so happy.

"Once, when she saw the River Ganges, she said: 'Can you please clean it for us so can go for a swim?'"

Mishra said he was reducing the quantity of clothes he was producing while at the same time increasing their quality, with humming birds, koalas and other animals hidden in the hundreds of hand worked embroidered leaves and flowers of his "jungle dresses".

The designer has won ethical and sustainability awards for his work supporting local crafts people in rural India.

"My objective is to create jobs which help people in their own villages," Mishra said.

"If villages are stronger, you will have a stronger country, a stronger nation, and a stronger world," he added.

Ayissi takes a similar stand, refusing to use wax prints popular in West Africa which he dismisses as "colonial".

Dutch mills flooded Africa with cotton printed with colourful patterns borrowed from Indonesian batik in the 19th century, and still dominate the market.

"When we talk about African fashion, it's always wax, which is a real pity," he told AFP, "because it's killing our own African heritage."

Ayissi, a former dancer who worked with singers such as Sting and Seal, told AFP he wanted to open up "a new path for Africa" and find an "alternative way of doing luxury fashion".

He has gone back to using prestigious local materials, like the strip fabric kente woven by the Akan people of Ghana and the Ivory Coast, which was originally worn only by nobles.

The son of an undefeated African boxing champ and a former Miss Cameroon, he also uses appliqued techniques from Benin and Ghana.

Haute couture shows only take place in Paris and the criteria to enter and remain in fashion's elite club are strictly enforced by French law.

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News Network
January 30,2020

Mumbai, Jan 30: A day after a woman filed a complaint against Ganesh Acharya alleging that he had forced her to watch pornography, actor Tanushree Dutta said Bollywood should boycott the choreographer.

A 33-year-old woman, an assistant choreographer, has written to the National Commission for Women (NCW) alleging that Acharya used to make her watch porn videos whenever she visited his office in suburban Andheri.

She also alleged that Acharya and two women assaulted her during a function of the Indian Film and Television Choreographers Association (IFTCA) held in suburban Andheri on Sunday. A complaint has been filed in this regard with Amboli police.

"It's time Bollywood and the other Indian film industries boycott choreographer Ganesh Acharya completely. Hiding behind the male superstars who work with this despicable man, he has been abusing his power and position to harass, bully and take advantage of vulnerable young newcomers to the industry," Dutta said in a statement here.

Dutta had alleged that her co-star Nana Patekar harassed and misbehaved with her while shooting for a song for their 2008 film "Horn Ok Pleasss", and Acharya, who was the choreographer, introduced new steps which were "intimate".

Recalling the trauma she faced, Tanushree said even though Acharya was party to all the harassment she faced on the 'Horn ok Pleasss" set, he went on to spoil her name and reputation.

"Nobody had any regard for me and how much I had suffered psychologically and financially because of the turmoil I went though due to these people. I left the industry because I was so scared and hurt over the atrocious treatment meted out to me on 'Horn ok Pleasss' set.

"I had worked very sincerely to get to where I got in life and so went in shock for many years, over the whole episode on that set almost 12 years ago, that led to an attack on my car. They didn't just break my car, they broke my spirit that day," Dutta said, in reference to the attack on her car in 2008.

She expressed her displeasure over how "leading men" and "heroes" of Bollywood continued working with Acharya, whose most recent work includes "Simmba", "Zero", "Sanju" among others.

"Even after all the information of fraud, non payment of dues, sexual harassment of dancers, bullying and intimidation and even physical abuse of dancers is coming out about Ganesh Acharya in the media, if the actors, directors and producers still work with him, it would mean that they themselves are engaging in such acts also.

"It's a warning to the film industry to stay the hell away from Ganesh Acharya otherwise your own reputation will be joined to his character. I'm sure many more girls and boys will come out about his misbehaviour and shady business, opening floodgates in the future," she added.

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