Shah Rukh Khan seems to be in a bit of realty trouble. The Income Tax department has attached SRK's Deja Vu Farms Pvt Ltd in Alibag, Maharashtra, and reports say a notice has been issued to the Badshah of Bollywood under the Prohibition of Benami Property Transactions Act (PBPT) in December.
If the investigating officer believes that the person is ‘benamidar’ (not worthy), he can issue a notice to the alleged person or beneficial owner (if identity is known), a source told Business Standard stating the issue under Section 24 of the Act. According to the I-T investigation report, the main allegations against SRK is that the actor, while purchasing the land, said in a written application that the land was to be used for farming. “The said transaction falls under the definition of ‘benami’ as per the Section 2 (9) of the PBPT Act, where Deja Vu Farms has acted as benamidar for the ultimate benefits of SRK. Thus, the actor is a beneficiary for the said under the prescribed law,” said the newspaper.
The report also claims that Deja Vu Farms was incorporated to buy the land and that Shah Rukh has given a loan of Rs 8 crore to this company without security. As the land was purchased for agricultural use, it had to be used for that very purpose for the initial three years. However, the reports show that the company has not yet shown any earnings from agriculture. It also claimed that Deja Vu bought the land from the money SRK loaned.
Recently, District Collector Vijay Suryavanshi’s office had sought legal opinion to take action under the violation of the Coastal Regulatory Zone (CRZ) on the 87 farmhouses with SRK’s house being one of them. As the investigation proceeded, it was disclosed that Deja Vu directors Ramesh Chhibba, Savita Chhibba and Namita Chhibba are related to SRK. An email on the same was sent to Shahrukh Khan's company, Red Chilies Entertainment and Kolkata Knight Riders CEO Venky Mysore on January 24, but was unable to elicit a response from them as yet. Read More