The long-standing dispute between Rajasthan Royals’ majority proprietor Manoj Badale and former co-owner Raj Kundra has erupted right into a high-profile authorized confrontation, with Badale accusing Kundra of blackmail in London’s Excessive Court docket. The case facilities round Kundra’s forfeited minority stake within the Indian Premier League (IPL) franchise, reigniting controversies which have shadowed the staff for the reason that 2015 betting scandal.
Background of the dispute between Manoj Badale and Raj Kundra
Manoj Badale, a London-based enterprise capitalist whose Rising Media Ventures holds a 65% stake in Rajasthan Royals, is suing Bollywood actress Shilpa Shetty’s husband Raj Kundra for allegedly breaching a confidential settlement settlement reached in 2019. Kundra, who was compelled to forfeit his 11.7% stake within the franchise after being discovered responsible of betting on IPL matches—a scandal that led to the Royals’ two-year suspension—claims he was misled and defrauded of the true worth of his shares.
Allegations of blackmail
The authorized proceedings took a dramatic flip after Badale’s authorized staff, led by Adam Speker, accused Kundra of trying to blackmail Badale by threatening to report critical allegations to Indian authorities. In accordance with court docket filings, Kundra despatched Badale an unsolicited electronic mail final month, alleging he had been “misled and defrauded of the rightful worth of my 11.7% stake” and stating he had already filed a criticism with Indian authorities. Kundra additional threatened to escalate the matter to the Board of Management for Cricket in India (BCCI) until a deal was reached for both the restoration of his unique fairness or compensation reflecting the present valuation of the franchise.
In the identical communication, Kundra instructed he was open to discussions involving monetary compensation, but additionally warned of releasing proof of alleged monetary misconduct and irregular transactions involving a key promoter of Rajasthan Royals. On social media, Kundra hinted at impending revelations relating to monetary malpractice and cash laundering by way of offshore constructions, intensifying the general public scrutiny on the franchise.
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Authorized proceedings and responses
Badale’s authorized staff swiftly responded by securing an interim injunction in opposition to Kundra on Might 30, barring him from breaching the 2019 settlement or making disparaging statements about Badale or the franchise. In court docket, Badale’s counsel characterised Kundra’s threats as a transparent try at blackmail, designed to coerce a beneficial settlement.
Kundra, represented by lawyer William McCormick, has denied any wrongdoing and asserted that he has been knowledgeable of sure details concerning the claimants. He maintains that if these details are unfaithful, “in the end it will likely be uncovered.” Kundra’s authorized staff has accepted that the injunction ought to stay in place till a full trial, however emphasised this doesn’t represent an act of contrition.
The case has reignited debate over the governance and transparency of IPL franchises, particularly given Rajasthan Royals’ turbulent historical past. The staff, which received the inaugural IPL in 2008 and has since change into one of many league’s most useful manufacturers, has confronted repeated controversies involving its possession construction and compliance with league laws.
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