Shah Rukh Khan Owned IPL Team Kolkata Knight Riders In Legal Soup, Clarify Their Stance

Shah Rukh Khan may not be coming up with any movie, but the actor manages to grab eyeballs for some reason or the other. Be it dancing with wife Gauri Khan at Armaan Jain’s wedding bash, or his production ventures like Bob Biswas, he’s all over. However, this time it’s not a very appealing reason as his IPL owned Kolkata Knight Riders (KKR) is in a legal soup.

For the unversed, Shah Rukh Khan’s Knight Riders Sports Pvt Ltd had been called by the legal authorities over connection with an investigation to the Rose Valley Group, over some business mishappenings. Now, the officials are coming forward to clarify their side.

An official statement by the team read, “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,” the statement further read.

Android & IOS users, download our mobile app for faster than ever Bollywood & Box Office updates!