IPL FEMA probe: ED records SRK statement; final notice soon

November 12, 2015

Mumbai, Nov 12: With the Enforcement Directorate recording statement of Bollywood actor Shah Rukh Khan in a foreign exchange violations case, investigations into a major case of alleged financial irregularities in T-20 cricket tournament IPL is set to complete soon.shah-rukh-khan

Khan is being probed on a specific charge of irregularities in the sale of shares of Knight Riders Sports Pvt Ltd (KRSPL), a franchise owned by his company Red Chillies Entertainment, to a Mauritius-based company.

Sources said the agency, after this questioning, is expected to issue a final show-cause notice by December or early next year under FEMA in the probe involving Kolkata Knight Riders (KKR) and related entities.

The sources said the recent questioning happened when the actor reached the agency's office in Ballard Estate here on the evening of November 10 and spent over three hours with the investigators probing the case under provisions of the Foreign Exchange Management Act (FEMA).

Khan could not be reached for comments.

The case, dating back to 2008-09, pertains to the share sale of KRSPL, co-owned by Khan and his co-actor and friend Juhi Chawla and her husband Jay Mehta, to a Mauritius-based company owned by Mehta.

The central agency is probing allegations that shares sold to the Mehta-owned Sea Island Investments were allegedly undervalued by eight to nine times by Khan's business end.
The actor had been questioned by the ED in this case earlier in 2011 apart from the business dealings of Kolkata Knight Riders, the IPL team co-owned by the actor.

They said during the latest round of questioning, Khan "cooperated" with the investigators and handed them over some relevant documents.

"He has assured that his legal and Chartered Accountancy firms will be in active touch with the agency so that the probe could be completed soon," they said.

They added that all the aspects of investigation on this IPL probe case are more or less complete and the final notice will now be served.

Under this case, at the time of incorporation in 2008, Red Chillies had 9,900 shares of KRSPL.

The valuation report, made by an external agency on commission from ED last year, said 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 FEMA rules, 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).

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Agencies
June 26,2020

Los Angeles, Jun 26: Warner Bros has moved its Christopher Nolan-directed espionage thriller Tenet from July 31 to August 12.

It's the second delay for the highly-anticipated movie, which was originally scheduled to release on July 17 but was postponed to July 31 due to coronavirus pandemic.

Warner Bros. is committed to bringing Tenet' to audiences in theaters, on the big screen, when exhibitors are ready and public health officials say it's time. In this moment what we need to be is flexible, and we are not treating this as a traditional movie release.

We are choosing to open the movie mid-week to allow audiences to discover the film in their own time, and we plan to play longer, over an extended play period far beyond the norm, to develop a very different yet successful release strategy, a Warner Bros spokesperson said in a statement to Deadline.

The studio has also delayed the US re-release of Nolan's sci-fi blockbuster Inception, in honour of the film's 10th anniversary, to July 31.

Tenet features John David Washington, Robert Pattinson, Elizabeth Debicki, Kenneth Branagh, Aaron Taylor-Johnson, Michael Caine, Clemence Poesy, Dimple Kapadia and Himesh Patel.

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Agencies
August 2,2020

Mumbai, Aug 2: Oscar-winning director Alfonso Cuaron has come aboard as an executive producer on filmmaker Chaitanya Tamhane's movie The Disciple. The Marathi feature is set to represent India at the 77th edition of the Venice Film Festival. It will be screened in the Competition section of the prestigious film gala.

The movie, which is Tamhane's follow-up to his National Award-winning feature Court, has also been selected for 2020 Toronto International Film Festival's official line-up.

"I met Chaitanya through a mentorship program where I had the opportunity to watch his very superb debut film, Court  I was immediately impressed by his sense of cinema and fearless confidence to tell stories.

"He was part of most of Roma's process and I jumped to the opportunity to be part of the process of his second film The Disciple. I believe Chaitanya is one of the most important new voices of contemporary cinema," Cuaron said in a statement.

Tamhane said he is honoured to have Cuaron aboard the film.

"It’s a bit surreal and an incredible honour for me to have one of the most recognised and acclaimed filmmakers in the world be part of 'The Disciple'. In some ways, this validation from Alfonso Cuaron is even more," he added.

The Disciple, a 127-minute long feature, stars Aditya Modak, Arun Dravid, Sumitra Bhave, and Kiran Yadnyopavit. It has been produced by “Sir” actor Vivek Gomber through his Zoo Entertainment Pvt. Ltd.

The Disciple marks Tamhane’s return to Venice after he won the Best Film - Orizzonti and Lion of the Future award for Court in 2014.

Court, a poignant commentary on India's judicial system, also won the National Film Award for Best Feature Film in 2015 and was India's official entry for the Best Foreign Film at the 2016 Oscars.

Endeavor Content will sell North American rights and New Europe Film Sales boards the film as an international sales agent.

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News Network
January 24,2020

Jaipur, Jan 24: Actor Sonali Bendre has said that she came into the movies to make money but fell in love with the profession where she discovered herself and found her family and friends. The 45-year-old actor said she owed a lot to Bollywood which is the most wonderful place to be, both mentally as well as creatively.

"I came into movies to make money and I fell in love with the profession. It was the most wonderful place to be, mentally and creatively," she said.

"I found myself there, found my friends and family over there. I owe a lot to Bollywood. It was one of the most wonderful things that happened to me," Sonali said here on Thursday.

The actor said her entry into movies by purely because she happened to be at the right place and at the right time.

Sonali added when acting offers came her way she knew that in no other field could she have made as much money, and as quickly, as she did in movies.

"Basically, I got into this because it was great money," she said.

The actor was speaking at the Jaipur Literature Festival and also talked about books and how her book club named ‘Sonali's Book Club' came into being.

Sonali, who has been convalescing after undergoing treatment for cancer in the US, said that books gave her strength and kept her afloat while she was going through one of the toughest phases of her life.

The actor was diagnosed with high grade cancer in July 2018 and underwent treatment for it in New York.

"Books were my friends other than my sisters while I was growing up. I'm nowhere remotely connected to movies. I have a very middle class Maharashtrian upbringing. When I got into movies, it was like being on another planet. Again in this world where it was easy to feel the peer pressure and do certain things or not do certain things, or look a certain way, books kept me grounded," she said.

"'A Gentleman in Moscow' (a 2016 novel by Amor Towles) was uplifting and I got so much strength from that book during my treatment in New York," Sonali said.

The actor, who often shares posts about books and authors on social media, said one should stop feeling guilty about not completing a book.

"Sometimes you start judging yourself by not completing a book, but I have reached a stage where I understand that I'm a book-lover, but that doesn't mean I will like all the books. It's okay if you don't like a book," she said.

Sonali also said that nobody wanted to know about the intellectual capacity of Bollywood stars as it was not "entertainment enough or gossipy enough".

Earlier before her session, Sonali launched author Ashwin Sanghi's latest book ‘The Vault of Vishnu', the sixth book in the Bharat series, at the 13th edition of the festival.

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Advisor
 - 
Sunday, 26 Jan 2020

Please read the religious books once in your life time specially the QURAN which tells lot about this life and its journey and to recognize the true ONE GOD who has no partners and the creator of all that Exists . God asks us to use our intellect and find logical answers for many of our life's query which is a guidance to HUMANITY.  READ with a OPEN HEART without bias... Good LUCK

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