Wednesday, February 05, 2020 13:36 IST
Earlier yesterday the news was that SRK firm had been in a flimflam scam. The Enforcement Directorate had attached properties worth 70 crores in the Rose Valley ponzi scam case and an interesting name that had come up here is SRK's Kolkata Knight Riders that is owned by his wife Gauri Khan Enforcement. ED has seized Kolkata Knight Riders Sports Pvt.Ltd, Multiple Resorts Pvt Ltd, and St. Xavier's College, Kolkata in connection to the Rose Valley scam as these firms have received funds from Rose Valley group. A charge sheet was also filed by the ED on Monday in Bhubaneshwar (Kolkata) court regarding this case.
The Kolkata Knight Riders Sports Pvt.Ltd is owned by actor Shah Rukh Khan, his wife Gauri Khan and actress Juhi Chawla's husband Jay Mehta. The Enforcement Directorate has attached a provisional Seize Prevention in Money Laundering (PMLA) Act 2020. Since Kolkata Knight Riders Sports Pvt. Ltd owns the Indian Premier League (IPL) team Kolkata Knight Riders (KKR) which is promoted by Shah Rukh Khan, the actor is also under PMLA investigation. He has been accused and questioned by the officials to have been selling shares of KKRS Pvt.Ltd worth 5 crores to Jay Mehta at an undervalued rate.
Further development on the news is that KKR clarified today that Rose Valley Hotels was one of KKR's IPL jersey sponsors for IPL seasons 2012 & 2013. Rose Valley had paid KKR an approx. amount of Rs. 11.87 Crores as sponsorship fees. KKR had no other dealings with the Rose Valley Group including Rose Valley's microfinance business.
In [July 2019], KRSPL (Knight Rider Sports Pvt Ltd), received a witness summons from the ED, in connection with an investigation relating to the Rose Valley Group, particularly Rose Valley's microfinance business. The ED continues the investigation of Rose Valley. KKR continues to cooperate with the authorities in all respects. As part of the investigative process, sometime in October 2019, the ED placed a lien on the said amount earlier paid by Rose Valley to KKR. KKR expects this matter to be resolved by the ED in an expeditious manner.
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