SRK and Wife Gauri, Owners of IPL Franchise ‘KKR' Get Show-Cause Notices

NEW DELHI: Actor Shah Rukh Khan and his wife Gauri, who promote IPL franchise ‘Kolkata Kinght Riders’, and Jaipur IPL Cricket that promotes ‘Rajasthan Royals’ have been issued showcause notices for alleged violation of the Companies Act.

Shah Rukh Khan and wife Gauri Khan in Trouble.

“After expiry of notice period, criminal proceedings will be filed against the companies and the directors,” the Registrar of Companies (RoC), Mumbai, informed the Ministry of Corporate Affairs (MCA).

The notices were issued to the companies and their promoters and directors for not filing mandatory yearly returns.

The MCA, on last Wednesday, had directed the RoC to collect within a week all details on IPL franchisees, including the bidding process, sweat equity and memorandum of association.

“My ministry is merely collecting information that we should have in the normal course of those companies that are franchisee companies,” Corporate Affairs Minister Salman Khurshid had told reporters on Monday, clarifying that this was not a probe.

The RoC-Mumbai, which in quiredinto the details of Red Chillies Entertainment and Knight Riders Sports, and Jaipur IPL Cricket, in a communication to the Ministry of Corporate Affairs on April 22, said that “after expiry of the notice period, criminal proceeding will be filed against the companies and their directors.” The RoC said that these companies have not been filing balance sheets and annual returns.

According to an official sources, the companies have been given 15 days to respond to the notices given RoC-Mumbai.

E-mails sent to Red Chillies Entertainments and Knight Riders Sports remained unanswered, while the Jaipur IPL Cricket remained silent on the RoC notice.

Red Chillies Entertainment, promoted Rukh Khan and Gauri, which hold 55 per cent stake in Knight Riders Sports, has been charged for not filing balance sheet for 200607 with the RoC as required under the Companies Act, 1956.

Knight Rider Sports has not filed annual returns for the period up to September 2008 and September 2009. As regards Jaipur IPL Cricket, its directors too have been issued notices.

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