ED summons Shah Rukh Khan in IPL FEMA case

New Delhi: The Enforcement Directorate on Thursday issued summon to Shah Rukh Khan in connection with the Kolkata Knight Riders FEMA (Foreign Exchange Management Act) case.

The ED has ordered the superstar and his wife Gauri Khan to remain present in person before the Adjudicating Authority for the final hearing regarding the penalty to be imposed against Khan's IPL team Kolkata Knight Riders in the case dating back to 2008.

The ED has issued the summon in the case pertaining to the sale of some shares of Knight Riders Sports Private Limited (KRSPL), the company that owns Indian Premier League (IPL) franchise Kolkata Knight Riders (KKR), to a Mauritius-based firm at lower prices than the actual cost.

Khan had appeared twice before the ED in 2011 and 2015 to record his statement in the case in which the ED had alleged a loss of around Rs 73 crore in foreign exchange.

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It may be mentioned that the sale had allegedly resulted in a loss of Rs 73.6 crore.

Earlier in March this year, ED had issued a show-cause notice to Shah Rukh Khan, his wife Gauri Khan, actress Juhi Chawla and others for the alleged loss.

At the August 23 hearing, the Khan couple would be required to remain present with their legal and financial advisors before the Adjudicating Authority, headed by an ED Special Director.

After hearing his version, the further course of action would be decided on the penalties to be slapped on the actor.