Taxmen seek fund details from Shahrukh Khan

The income tax authorities have asked Rajasthan Royals, Kolkata Knight Riders and Kings XI Punjab--the three IPL teams owned by cine stars Shilpa Shetty, Shahrukh Khan and Preity Zinta, respectively--for information on the sources of their funding and ownership details.

At the same time, the department has also approached authorities in tax havens such as Mauritius, the Bahamas, the Cayman Islands and the British Virgin Islands for details of registration and investments from there in these franchises, and also to ascertain whether illegal Indian funds were ploughed back to the country or not.

Communication seeking information, particularly relating to funding or stake-holding by foreign entities, were sent to them recently after the I-T authorities found the information provided by these as inadequate, a senior official said here.

In the case of the other seven franchises, mostly owned by industrial houses like Mukesh Ambani-led Reliance Industries, Vijay Mallya-promoted UB Group, GMR and Sahara Group, the department is satisfied and seeks to hold no further investigations, he said.