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 21,2020

Mumbai, Apr 21: While the whole country continues to struggle against the COVID-19 crisis, filmmaker Rohit Shetty's name has been added to the list of renowned personalities who have come forward to give the frontline workers a boost to help them in their battle against the deadly infection.

Rohit Shetty has facilitated eight hotels across the city for the on-duty corona warriors to rest, shower and change with arrangements for breakfast and dinner. The Mumbai Police thanked Shetty for this kind gesture in keeping Mumbai safe and tweeted," #RohitShetty has facilitated eight hotels across the city for our on-duty #CovidWarriors to rest, shower & change with arrangements for breakfast & dinner. We thank him for this kind gesture and for helping us in #TakingOnCorona and keeping Mumbai safe."

Meanwhile, scores of celebrities have stepped forward in the fight against coronavirus by supporting different initiatives to help the ones going through the difficult situation due to coronavirus outbreak.

India's count of positive coronavirus cases reached 18,985 after 1,329 new cases were reported in the last 24 hours, the Ministry of Health and Family Welfare said on Tuesday.
Out of the total cases, 15,122 are active cases, 3,259 have been cured and discharged and one has migrated. With 44 new deaths reported in the last 24 hours, the toll stands at 603.

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News Network
June 19,2020

Mumbai, Jun 19: The Mumbai Police, probing the   case of alleged suicide of Bollywood actor Sushant Singh Rajput, has sent a letter to Yash Raj Films, seeking details of the contracts it had signed with him, an official said on Friday.

Rajput, 34, known for films like Kai Po Che!, MS Dhoni: The Untold Story, Chhichhore, was found hanging in his Bandra apartment on Sunday, sending shockwaves in the film industry and elsewhere.

"Police are investigating various angles, including that of professional rivalry, in the case," the official said. So far, Bandra police have recorded the statements of over 13 people, including Rajput's family members and close friends like actor Rhea Chakraborty and casting director Mukesh Chhabra.

 "Keeping in view the professional angle, police have started calling some prominent production houses for inquiry. As part of that, police on Thursday sent a letter to Yash Raj Films, seeking details of all the contracts it had signed with the deceased actor," a senior police officer said.

"We have also asked for the copies of the contracts that Yash Raj Films had signed with the actor," he added.

In the next few days, police may also call those people, who had played a role in signing of contracts between the actor and the production houses for their projects, the officer said.

 Rajput had worked in two Yash Raj Films movies - Shuddh Desi Romance (2013) directed by Maneesh Sharma and in director Dibakar Banerjee directed Detective Byomkesh Bakshy! (2015).

His third film with the banner was supposed to be Paani, directed by Shekhar Kapur. However, YRF had reportedly backed out of the project later.

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News Network
April 11,2020

New Delhi, Apr 11: Actor Hema Malini on Saturday expressed concern over the health workers, who are being treated badly and are restricted to enter their own building.

The 71-year-old actor took to Instagram and shared a video where she expressed concern over the situation the health workers are going through. "Friends, I have seen this in various news channels and I am very sad that the health workers are being treated very badly. They are being restricted to enter their own building," she said.

The 'Baghban' actor further said: "Just think, in such times, they are our safeguards amid such situation (coronavirus outbreak). They are the ones who are going to ground level and are finding out the patients suffering from the disease."

She went on to add that "they do so, to save you. Remember, opposing them is to play with the safety of the country and every citizen. That is why we should honour them. Jai Hind."

In the post accompanying the video, she wrote, "Some of you might have watched the following interview on India TV where I have spoken about how I spend a typical day during this lockdown and social distancing period. This is for those of you who might have missed it!"

The post garnered more than 1.3k views within 35 minutes of being posted on the photo-sharing platform.

Just like other celebrities, Hema Malini is also practicing self-isolation amid the 21-day government-imposed lockdown in view of coronavirus outbreak.

India's total cases of coronavirus on Saturday climbed to 7,529 including 242 deaths and 652 people, who have either been cured or discharged, said the Union Ministry of Health and Family Welfare on Saturday. 

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