Jun 26, 2025 01:25 PM IST
Manoj Badale’s Rising Media Ventures holds a 65 % stake in RR, they usually additionally acquired an interim injunction towards Raj Kundra on Might 30.
IPL franchise Rajasthan Royals have been put underneath the scanner as a consequence of an ongoing authorized tussle between majority proprietor Manoj Badale, and former co-owner Raj Kundra. London-based enterprise capitalist Badale has accused Kundra of attempting to blackmail him by alleging that he was defrauded out of his minority stake, and it’s a brech of their 2019 confidential settlemend settlement.
Badale’s lawyer Adam Speker accused Kundra of threatening to report severe allegations to the Indian authorities in a “blackmail try.”
In the meantime, Kundra has acknowledged that he has been instructed details about the claimants and his lawyer confirmed that it it isn’t true, then “in the end it will likely be uncovered.”
Kundra was discovered responsible of betting on IPL video games in 2015, in a scandal which rocked the nation and likewise noticed RR get suspended for 2 years. Kundra needed to forgeit his 11.7 % stake after being discovered responsible.
Badele’s lawyer added in courtroom proceedings that Kundra emailed his employer ‘out of the blue’ final month, alleging that he had been “misled and defrauded of the rightful worth of my 11.7 % stake.”
In the meantime, the e-mail additionally talked about that Kundra had filed a grievance to the Indian authorities and likewise alleged that he would make a report back to the BCCI. However he additionally added that he was keen to make a deal, which concerned the “restoration of my authentic fairness or compensation reflecting the true and present valuation of the Rajasthan Royals franchise.”
Badale’s lawyer additionally revealed that Kundra messaged IPL founder Lalit Modi, stating that Badale “didn’t realise dishonest me of the true worth would price him dearly.”
Badale’s Rising Media Ventures holds a 65 % stake in RR, they usually additionally acquired an interim injunction towards Kundra on Might 30, which avoids him from breaching the settlement settlement by making ant disparaging statements. Kundra’s lawyer revealed that he had accepted the injunction. Kundra’s lawyer stated, “It isn’t an admission that something improper has been accomplished ir is being threatened.”
