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04-30-2010, 11:51 AM #1
Shahrukh and Gauri given show cause notices
Shahrukh Khan and his wife Gauri, who promote IPL franchise ‘KKR’, and Jaipur IPL Cricket that promotes ‘Rajasthan Royals’ have been issued show-cause notices for alleged violation of the Companies Act.“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 Company Affairs.The notices were issued to the companies and their promoters, directors for not filing obligatory annual returns.
The MCA, on Wednesday last, had directed the RoC to collect within a week all facts on IPL franchisees, including the request process, sweat equity and memorandum of association. According to news, the companies have been given 15 days to respond to the notices given by.The RoC Mumbai e-mails sent to Red Chillies Entertainments and Knight Riders Sports remained unrequited, while the Jaipur IPL Cricket remained silent on the RoC notice. Red Chillies Entertainments, promoted by Shahrukh Khan and Gauri, holds 55 per cent stake in Knight Riders Sports has been charged for not filing balance sheet for 2006-07 with the RoC, as required under the Companies Act, 1956.
The directors of the Knight Rider Sports, which owns the Kolkata Knight Riders, include Gauri and Jay Mehta and Sanjiv Desraj Chawla (husband and brother of Bollywood actress Juhi Chawla respectively). Knight Rider Sports has not filed yearly returns for the period up to September 2008 and September 2009. As regards Jaipur IPL Cricket, its directors Raghuram Natrajan Iyer and Ranjit Rabindranath Barthukar, as named by the RoC, have been issued notices.