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 6,2020

New Delhi, April 6: Acknowledging on being scared and talking of not seeing his family for three weeks, actor Salman Khan along with nephew Nirvaan on Sunday shared their lockdown experience in a video message.

The 54-year-old star, without disclosing where the actor actually is, shared a video message on Twitter along with his brother Sohail Khan's son, Nirvaan.

Salman began the one-minute and 26-seconds long video, by saying: "We came here for a few days and now we're stuck and scared"

The 'Bharat' actor then introduced Nirvaan and asked him "How long has it been since you saw your father?", to which Nirvaan replied, "It must have been three weeks."

"I have not seen my father for three weeks. We are here and he is alone at home," Salman added.

The 'Sultan' actor then asks the boy: "You remember the film dialogue, 'the one who got scared, died.' It does not apply here in this situation. We are scared and bravely we admit that we are scared. Please don't be brave in this situation."

Nirvaan also further requested everybody to stay safe and maintain social-distance.

"I think it's better for everyone to stay home, avoid contact and I think the longer we stay indoors the faster this ends," he added.

The 'Bajrangi Bhaijaan' star concluded the video by saying: "The one who got afraid saved himself and lives of others around him. Moral of the story, 'We're all scared'."

Urging people to take the government's advisory of self-isolation seriously amid the rising cases of coronavirus in the country, the megastar had earlier shared a video message for fans. 

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News Network
January 27,2020

Los Angeles, Jan 27: Pop-rock innovator Billie Eilish on Sunday bested a packed field to win the Grammy for Song of the Year -- which honors songwriters -- for her hit "Bad Guy."

The 18-year-old beat veteran acts Lady Gaga, Taylor Swift and Lana Del Rey along with newcomers Lewis Capaldi and Lizzo to take home the coveted honor.

She shares the prize with her older brother Finneas O'Connell, her primary creative collaborator.

The pair were gracious onstage, with Eilish telling her fellow nominees: "I grew up watching all of you."

"We just make music in a bedroom together," said O'Connell. "We still do that and they let us do that. (...) This is to all of the kids making music in your bedrooms today -- you're going to get one of these."

Eilish was among this year's most nominated artists with six nods, and is the youngest person ever nominated in all four of the top categories.

Best song was her second award of the night. She won earlier for best pop vocal album for "when we all fall asleep, where do we go?"

Before she released the album in March 2019, Eilish had already assembled a fervent online following for her bold, often haunting pop sound.

In August, Eilish became the first musician born in the 2000s to top the Billboard Hot 100, when she dethroned Lil Nas X, who spent a record-breaking 19 weeks at the top with viral hit "Old Town Road."

The artist named Billboard's 2019 Woman of the Year has also written and will perform the theme song for the upcoming James Bond film "No Time To Die."

"I feel like I'm not supposed to be here," she told E! television on the red carpet before the gala. "Life is weird."

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News Network
January 14,2020

Indore, Jan 14: Yoga guru Ramdev has said that Deepika Padukone should hire persons like him for offering correct advice, days after the actress had visited Jawaharlal Nehru University in Delhi following the violence at the campus earlier this month.

"Deepika Padukone needs to study about political, social and cultural issues. She should understand more about our country. Only after gaining knowledge, she should take decisions. I feel she should have persons like Swami Ramdev for correct advice," Ramdev said at an event here on Monday.

On January 7, Padukone joined the protest at JNU after a masked mob entered the varsity campus and attacked the students and teachers with sticks and rods on January 5.

Several BJP leaders questioned the support extended by Padukone. On the other hand, the Congress threw their weight behind the actress for her stand.

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