Indian Premier League franchise Rajasthan Royals on Friday distanced themselves from one of their co-owners, Mr Raj Kundra, following the Delhi police’s claim that he had confessed to betting in the cash-rich league.
A statement issued by the Royals on Friday said Mr Kundra has no involvement in running of the franchise and he would be suspended and his shares forfeit if he was found guilty in the case.
Mr Kundra on Friday claimed innocence and said he would be willing to forfeit his shares in the franchise if found guilty. “I was called by the Delhi police since I am a minority shareholder of Rajasthan Royals and a few questions were put to me to which I have satisfactorily answered,” Mr Kundra said in a statement. “I would like to reiterate that I am innocent and equally anxious to know as to what went wrong within the Rajasthan Royals. In case anything is established against me I shall be willing to forfeit my shares in Rajasthan Royals,” he said.
The development bears a striking resemblance to the way the Chennai Super Kings have termed team principal and owner Gurunath Meiyappan, under investigation for charges of alleged betting, as a “mere enthusiast” who “travelled with the team”.
“As a franchise, we have always been clear that the same rules apply to players, management or owners. As such, our actions will be consistent as in the case of the spot-fixing allegations with respect to our players,” Royals chairman Ranjit Barthakur and CEO Raghu Iyer said in a statement.
“Mr Raj Kundra is a minority (11.7 per cent) shareholder, and he has no involvement in the running of the franchise. We believe that Mr Kundra is a law-abiding citizen and would not act contrary to law. If however, he is proven guilty, or has breached any regulations,he will be suspended, and he will also forfeit his shares,” the statement added.
Both CSK and RR face the prospect of possible termination from the league due to the developments as such acts are in clear contravention of IPL rules, specifically Clause 11.3 (C) of the franchise agreement which states that a franchise can be terminated in the event of any of the owners bringing the game into disrepute.
The BCCI has already constituted a two-member committee to look into the CSK case which has also put the role of former BCCI president N. Srinivasan under the scanner. Mr Srinivasan had to “step aside” after increasing pressure from within the board on the row.
For RR, already reeling under the spot-fixing row involving three of their players, whether or not this action will bring any respite will only become clear after the emergent working committee of the BCCI here on Monday.
The Royals, however, stated they would continue to assist the authorities in the investigations. “In the last few days, various members of the RR management have been assisting the Delhi police in their investigation for a better appreciation and understanding of the matter. As we have stated before, we are cooperating with the authorities to ensure a thorough inquiry and will continue to share any such information that they may seek from us in the future. We are working hard as co-complainants to ensure that all information is made available to the authorities,” the statement said.
Kundra and his wife Shilpa Shetty jointly hold 11.7 per cent through Kuki Investment while Suresh Chellaram and family (Tresco International Ltd) own 44.2 per cent shares in the franchise. Manoj Badale (Emerging Media), with a 32.4 per share, and Lachlan Murdoch (Blue Water Estate Ltd), at 11.7 per cent, are the two other co-owners of the Jaipur-based team.