The Enforcement Directorate (ED), as part of its probe in the Rose Valley scam, on 3rd February attached bank deposits of Rs. 16.2 crore and other assets of Knight Riders Sports Pvt. Ltd. which owns the IPL franchise Kolkata Knight Riders (KKR), St. Xavier’s College (autonomous) and a company called Multiple Resorts Pvt. Ltd.
Knight Riders Sports Pvt. Ltd. is under the scanner for a sponsorship agreement with the Rose Valley Group. The Group is accused of running ponzi schemes that robbed thousands of their life’s earnings. Shah Rukh Khan, Gauri Khan and Jay Mehta (husband of Juhi Chawla) are directors of Knight Riders Sports Pvt. Ltd.
The properties attached are totally valued at Rs. 53.9 crore.
Rose Valley, which was KKR’s principal sponsor for seasons 5 and 6 of the IPL, paid KRSPL Rs. 11.8 crore in total during 2012 and 2013.