A shocking news has surfaced this evening. As Shahrukh & Gauri Khan are issued a show-cause notice by the Enforcement Directorare.
This notice is issued in the evening only, convicting Bollywood Badshah Shahrukh Khan with his Begham Gauri Khan, followed by the share-holder of M/s Knight Riders Sports Pvt. Ltd Juhi Chawla. The notices is issued under Rule 4(1) of Foreign Exchange Management ( Adjudication Proceedings & Appeal rules), 2000.
Along with Shahrukh khan, several top actors and their spouses have received this notice in Bollywood.
This notice has been issued regarding various Offshore-investments that they or their organization have made. It is just to verify that the transactions are fulfilling the rule & regulations of FEMA (foreign exchange management act) or not.
Same thing happened during the leaks of Panama, when various names of Bollywood were popped out of it. That was exactly same to this, as they both are filed under the violation of rule 4(1) of FEMA. At the time of “Panama” names like Amitabh Bacchan, Aishwarya Rai we surfaced for the frod. But this time the notices has reached to the gates of King Khan & Juhi Chawla.
This scenario can b clearly related to the IPL playing team Kolkata Knight Riders as the owners & shareholders of the team has received the notice from the Enforcement Directorate.
The Enforcement Directorate has provided a couple of weeks to the notice receivers, to submit the documents of investments, fund management, and offshore entities they have linked up with the team.
Will the stars be able to provide the suitable documents and information asked by ED, only time will tell.
But, this is sure, that the KKR owners and share holders are in big trouble ight now, just before the IPL.