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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News Network
April 5,2020

New Delhi, April 5: Superstar Shah Rukh Khan on Sunday in a written message urged people to stay kind to each other and support each other in the testing times amid coronavirus crisis.
The message was shared by the actor's production company - Red Chillies Entertainment.

"At a time when the human race is facing an immense crisis, there can only be one true response: The expression of Humanity itself. This is a moment for all of us to come together in a collective effort to make each other kinder, stronger and braver to face the days ahead," said Khan.

The message from the megastar can be seen as an attempt to instill positivity and calm amidst the current situation of chaos.

"This crisis is not going to pass in a hurry, it will take its time and its toll on all of us. It will also show us that there isn't really a choice between looking out for ourselves and looking out for one another," he said.

"There's nothing more obvious in the spread of this pandemic than the fact that each one of us is inextricably connected to each other, without any distinction," he added.

He urged people to stay compassionate towards each other and also said that how we deal with this pandemic will define India as a Nation.

"So, while we do whatever we can to support each other in our own small ways, the compassion we show to those who are likely to face the most brutal brunt of both, the pandemic and its economic consequences will define us as a generation and as a Nation," the 'Kal Ho Na Ho' actor said.

"The scourge we are up against. is fearsome and unknown to us. Like all uncharted paths, our journey to overcome every new challenge it throws at us will be arduous. There will be times when the best intentions might yield the wrong results. There may also be times when we accidentally stumble upon important solutions," he added.

The 54-year-old actor urged people to confront each challenge with courage and said that he will do his best it.

"All we can really do is try our utmost to adapt and confront each challenge with courage. As a nation, and as a people, it is our duty to give it all we've got. I am going to try my best and I know each one of you will do so too. Only together we will able to fight through these difficult and unimaginable days. Together. we will overcome," he said.

He also added short poetry which said that a bright day follows this dark night and new beginnings of the day are awaiting.

"Raat ke baad naye diin ki sahar aayegi, Din nahi badlega, tareekh Badal jayegi..." read the message.

King Khan ended the message by urging people to ta maintain a physical distance with others.
"I pray for you and your families, please do the same for me. And follow Physical Distancing..........Physical Distancing.. Physical Distancing...PLEASE," said Shah Rukh Khan.
Earlier on Saturday, the Padma Shri awardee along with his wife Gauri Khan offered their personal office space in Mumbai for quarantine purpose for children, elderly and women.
The couple has also made donations to the PM CARES Fund and shared that his companies -- Kolkata Knight Riders, Red Chillies Entertainment, Meer Foundation, and Red Chillies VFX -- are taking several initiatives to support the relief efforts.

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Agencies
March 14,2020

Los Angeles, Mar 14: Hollywood superstar Tom Hanks and his wife Rita Wilson on Friday gave a health update from coronavirus quarantine, saying they are taking it "one day at a time".

The couple, who is in isolation at a hospital in the state of Queensland in Australia, said they are being well cared for.

"Hello folks. @ritawilson and I want to thank everyone here Down Under who are taking such good care of us. We have COVID-19 and are in isolation so we do not spread it to anyone else.

"There are those for whom it could lead to a very serious illness. We are taking it one-day-at-a-time.There are things we can all do to get through this by following the advice of experts and taking care of ourselves and each other, no?" Hanks posted on Instagram.

The post was accompanied by a photograph that showed the couple smiling.

Hanks announced on Thursday that he and his wife have been tested positive for the novel coronavirus.

The actor couple, who is currently in Australia to shoot for the pre-production of Baz Luhrmann's untitled Elvis Presley film, decided to get tested after they felt "a bit tired".

The deadly virus that first originated in the Chinese city of Wuhan in December last year has claimed over 4,200 lives and infected more than 117,330 people across 107 countries and territories, with the World Health Organisation on Wednesday describing the outbreak a pandemic.

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News Network
April 7,2020

New Delhi, Apr 7: Actor Disha Patani on Tuesday extended her warm wishes to legendary martial artist and actor Jackie Chan on his birthday.

The 'Baaghi 2' took to Instagram to share a throwback picture of herself with the Hong Kong-based actor and reminisced the times when she got the opportunity to work with him.

"Happiest b'day taguuu this was the first time I met you, I remember being so nervous but It turned out to be the best day of my life, getting an opportunity to work with my "superhero" is the best thing that has ever happened to me," she wrote in the caption.

"You teach people to be giving, loving and hardworking, thank you for blessing the world with your unreal performances and the most unforgettable life risking action sequences. Nobody can ever be "jackie chan" love you the most @jackiechan," she added.

Disha Patani and Jackie Chan worked together in a Chinese adventure comic film 'Kung Fu Yoga'.

The film was released worldwide in 2017 and it later became the highest-grossing film of Jackie Chan in China.

Besides Disha, the film also had two other Bollywood actors - Sonu Sood and Amyra Dastur.

Jackie Chan turned 66 today. He was many laurels to his name including the prestigious Oscar Award which was handed over to him in 2016 for his extraordinary achievements in the cinema industry.

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