Rajasthan Royals in Hot Water? Former Co-owner Raj Kundra to Release Documents Alleging Financial Misconduct by a Key Promoter

On Thursday, May 29, Raj Kundra took to his official LinkedIn handle to declare his plans to release financial evidence alleging serious misconduct by a key promoter of Rajasthan Royals. He also mentioned revealing details about money laundering via offshore structures and hidden transactions, suggesting the promoter’s involvement in questionable financial dealings. To shed light on the matter, Raj Kundra announced that a press conference will be held on Monday, June 2. Is a possible suspension on the cards for Rajasthan Royals again?

Taking to LinkedIn, Raj Kundra wrote, “I will soon be releasing documented evidence exposing serious financial misconduct, money laundering through offshore structures and hidden transactions involving a key promoter of the Rajasthan Royals. This includes willful suppression of co-promoter rights and entitlements, pattern of deceit and manipulation in shareholder dealings. The truth will be shared soon, and the documents will speak for themselves.”

He also posted an image that read “Karma Bol” and tagged the Board of Control for Cricket in India (BCCI), bringing the cricketing body into the spotlight.

In 2009, Raj Kundra and his wife, actress Shilpa Shetty, acquired an 11.7% stake in Rajasthan Royals for an estimated $15.4 million. However, his association with the franchise ended in 2015.

While the full nature of the alleged misconduct is yet to be seen, Raj Kundra’s revelations have already sparked widespread curiosity and concern among cricket fans, stakeholders, and industry insiders.