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The long-standing dispute between Rajasthan Royals’ majority owner Manoj Badale and former co-owner Raj Kundra has erupted into a high-profile legal confrontation, with Badale accusing Kundra of blackmail in London’s High Court. The case centers around Kundra’s forfeited minority stake in the Indian Premier League (IPL) franchise, reigniting controversies that have shadowed the team since the 2015 betting scandal.
Background of the dispute between Manoj Badale and Raj Kundra
Manoj Badale, a London-based venture capitalist whose Emerging 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 agreement reached in 2019. Kundra, who was forced to forfeit his 11.7% stake in the franchise after being found guilty of betting on IPL matches—a scandal that led to the Royals’ two-year suspension—claims he was misled and defrauded of the true value of his shares.
Allegations of blackmail
The legal proceedings took a dramatic turn after Badale’s legal team, led by Adam Speker, accused Kundra of attempting to blackmail Badale by threatening to report serious allegations to Indian authorities. According to court filings, Kundra sent Badale an unsolicited email last month, alleging he had been “misled and defrauded of the rightful value of my 11.7% stake” and stating he had already filed a complaint with Indian authorities. Kundra further threatened to escalate the matter to the Board of Control for Cricket in India (BCCI) unless a deal was reached for either the restoration of his original equity or compensation reflecting the current valuation of the franchise.
In the same communication, Kundra suggested he was open to discussions involving financial compensation, but also warned of releasing evidence of alleged financial misconduct and irregular transactions involving a key promoter of Rajasthan Royals. On social media, Kundra hinted at impending revelations regarding financial malpractice and money laundering through offshore structures, intensifying the public scrutiny on the franchise.
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Legal proceedings and responses
Badale’s legal team swiftly responded by securing an interim injunction against Kundra on May 30, barring him from breaching the 2019 settlement or making disparaging statements about Badale or the franchise. In court, Badale’s counsel characterized Kundra’s threats as a clear attempt at blackmail, designed to coerce a favourable settlement.
Kundra, represented by lawyer William McCormick, has denied any wrongdoing and asserted that he has been informed of certain facts about the claimants. He maintains that if these facts are untrue, “in due course it will be exposed.” Kundra’s legal team has accepted that the injunction should remain in place until a full trial, but emphasized this does not constitute an admission of guilt.
The case has reignited debate over the governance and transparency of IPL franchises, especially given Rajasthan Royals’ turbulent history. The team, which won the inaugural IPL in 2008 and has since become one of the league’s most valuable brands, has faced repeated controversies involving its ownership structure and compliance with league regulations.
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