Shahrukh Khan © Yogen Shah
Shahrukh Khan © Yogen Shah

Bollywood superstar Shahrukh Khan has been summoned by the Enforcement Directorate (ED), once again. The co-owner of the Indian Premier League (IPL) franchise Kolkata Knight Riders, who have won the tournament twice in 2012 and 2014 after a meek beginning in the Twenty cricket league, was last summoned by the ED in May 2015. The last time when Shahrukh was summoned by the ED, he had sought time to appear before the agency that has been conducting the ongoing investigations into the irregularities in the IPL. Both the actor and his IPL franchise Kolkata Knight Riders (KKR) remained unavailable for their comments on the development.

According to the Indian Express, Shahrukh is presently not in Mumbai as he is busy shooting for his upcoming film Dilwale with director Rohit Shetty. The ED is presently investigating two separate sales of the shares of Kolkata Knight Riders in 2009 and 2010 to a Mauritius-based company, Sea Island Investment Ltd.

The ED in its report has claimed that the shares of KKR team sold to the Sea Island Investment Ltd were undervalued. The allegation has been based on a report submitted by Chokshi & Chokshi LLP, which is a chartered accountancy firm.

Chokshi & Chokshi LLP was appointed to audit the value of the equity shares of a few IPL franchises, in order to arrive at the correct valuation of the sales of their shares. In their response, the IPL teams have asserted that the sale of the shares happened at a time in the early stages of the tournament, and especially at a time when there was less in terms of valuations.