Distancing themselves from Raj Kundra, the majority stakeholders of Rajasthan Royals said that if he is found guilty, he will be suspended by the team.
Kundra, holding 11.7 per cent stake in Rajasthan Royals, on Thursday had admitted to betting in Indian Premier League tournaments. Already tainted by spot fixing allegations involving three players from Rajasthan Royals, Kundra’s confession further maligned the team’s image.
A statement issued by Rajasthan Royals Chairman Ranjit Barthakur and CEO Raghu Iyer said that as a franchise it was clear that same rules will apply to players, as well as management or owners.
According to the team’s statement in April 2010, the parent company of the team is EM Sporting Holdings Ltd. The parent company shareholders include Manoj Badale, who owns 32.4 per cent through Emerging Media (IPL) Ltd, while the Suresh Chellaram family owns 44.2 per cent through Tresco International Ltd. Other shareholders include Lachlan Murdoch, who owns 11.7 per cent through Blue Water Estate Ltd, while Raj Kundra and family own 11.7 per cent through Kuki Investments Ltd.
“Raj Kundra is a minority shareholder (11.7 per cent), and he has no involvement in the running of the franchise. We believe that 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. This is a strict governance procedure agreed to by all Rajasthan Royals shareholders, and it is consistent with our zero tolerance approach,” according to the statement.
This comes after the Board of Control for Cricket in India (BCCI) interim chief Jagmohan Dalmiya on Thursday said that the police’s allegation about Kundra will be discussed in its working committee meeting on Monday and strict action will be taken if required.
Rajasthan Royals said that they are co-operating with authorities to ensure a thorough inquiry and will continue to share information that may be sought from the management in the future. “We remain committed to our fans and sponsors, and we remain focused and fully committed to working with the authorities to complete their reviews,” it said.