Home / News / Income Tax sleuths reach KKR’s office for a detailed check

Income Tax sleuths reach KKR’s office for a detailed check

Kolkata: The Income Tax Department sleuths have reached the office of the Indian Premier League (IPL) team Kolkata Knight Riders (KKR) located within the Cricket Association of Bengal (CAB) headquarters to conduct a detailed check on the financial transactions of the team.

There are reports that the officials have reached the office of Shah Rukh Khan”s Red Chillies to conduct a thorough probe.

The Enforcement Department (ED) has filed a report against all eight Indian Premier League (IPL) teams for violation of key sections of the Foreign Exchange Management Act (FEMA).

The ED is probing the investment of foreign money in the IPL.

The report was filed under the Section Three of the FEMA.

Earlier, Jaipur IPL Cricket Private Ltd, the owner of Rajasthan Royals, resubmitted a proposal before the Foreign Investment Promotion Board (FIPB), the key body responsible for foreign investments, to issue a 32.41 percent stake to Mohan Badale.

In October 2009, its application was rejected by the FIPB.

On Tuesday, a section of the media reported that the both MSM and WSG had paid 80 million dollars as”” facilitation fee.”

Leave a Reply

Your email address will not be published. Required fields are marked *


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>