Knight Rider Sports, Gauri Khan Show Caused

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New Delhi: The Enforcement Directorate on Friday issued show-cause notices to Knight Riders Sports Pvt Ltd and co-owners Shah Rukh Khan, his wife Gauri Khan and Juhi Chawla for violating foreign exchange rules.

The notices to the actors and the Indian Premier League franchise team were issued under the Foreign Exchange Management (Adjudication Proceedings and Appeal) Rules, 2000.

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The ED has been investigating Shah Rukh Khan on charges of irregularities in the sale of shares of Knight Riders Sports in 2008-09 to a Mauritius-based company owned by Chawla’s husband Jay Mehta. SRK’s company Red Chillies Entertainment, which he co-owns with Chawla, owns KKR. Mehta is also a co-owner of the IPL franchise team.

The agency believes that the KKR shares sold to the Mauritius company were undervalued. It has questioned the actor a number of times in connection with the case.

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