The Enforcement Directorate has issued a show cause notice against SRK’s better half, Gauri Khan, and Knight Riders Sports Pvt Ltd (KRSPL). Given that Shah Rukh, Gauri, Juhi Chawla and her husband, Jay Mehta, all co-own Red Chillies Entertainment Pvt Ltd — which owns KRSPL — all these B-town biggies find themselves in something of a soup.
The notice has been issued in connection with the sale of KRSPL shares resulting in a loss of foreign exchange to the tune of 73 crore.
The agency has found discrepancies in the price at which the shares were sold to Sea Island Investment , a company owned by Jay Mehta. The findings reveal that shares were sold to Sea Island Investment at a ninth of their market value.
KRSPL has been under investigation under the Foreign Exchange Management Act (FEMA) since 2010 and a summons was issued to SRK, in 2015 and earlier.
Shah Rukh and Juhi are pillars of the film fraternity. Stalwarts who have rarely, if ever, been caught with their pants down. Here’s hoping delving into the business end of a sports deal doesn’t end up tarnishing two heroes. That would be tragic!