Raj Kundra, Shilpa Shetty to sell Rajasthan Royals stake

The co-owner of IPL Rajasthan Royals, Raj Kundra and Shilpa Shetty have decided to sell their stake in the Indian Premier League team, Rajasthan Royals in the wake of Supreme Court finding Raj Kundra guilty of placing bets on IPL games. Shilpa’s dearest hubby in the morning tweeted about his decision of selling their stake. “Will be announcing something very sad tomorrow with a stone on my heart. Nevertheless My Integrity is more important.”

One and half years back, Supreme Court found Raj Kundra along with his actress Shilpa Shetty with BCCI chief’s son in law Gurunath Meiyappan guilty of match fixing and betting. The decision of SC is still pending but before that Raj has announced his decision of selling his stake.  

Investigation completed and Supreme Court finally gave clean chit to BCCI chief N Srinivasan but Kundra and Meiyappan were pronounced guilty.

Speculation is rife that Kundra will sell his stake not to a new buyer but to the existing buyers. The other owners of Rajasthan Royals are: Tresco International Ltd of Suresh Chellaram and family (44.2 per cent), Blue Water Estate Ltd of Lachlan Murdoch (11.7 per cent) and Emerging Media (IPL) Ltd of Manoj Badale (32.4 per cent). Kundra held his 11.7 in the team through Kuki Investments Ltd.

"I am not sure if the share transfer or surrender will have any influence on the punishment to be imposed on the teams," said a BCCI lawyer who was looking into the case from the very beginning.

With heavy heart, Raj Kundra the co-owner of RR made his decision public but before tweeting the sad news, Raj Kundra shared a picture of his and Shilpa enjoying their team’s victory and wrote, “Some moments just can’t be faked! Won on the last ball in Hyderabad #Epic match that was! I Love @rajasthanroyals.”