Mumbai: Raj Kundra – co-owner of Indian Premier League (IPL) franchise Rajasthan Royals – has decided to place his entire share of 11.7 per cent in the team in the custody of the Supreme Court.
“For the last one year, I have been subjected to allegations which have caused great amount of pain to my family and myself. Additionally, it caused severe reputationa damage to the team (Rajasthan Royals),” he said in a release.
“I hereby undertake to place my entire shareholding of 11.7 per cent in the franchise in the custody of the Honourable Supreme Court of India or any institution that they direct me to. I will only seek back these shares once I am exonerated of these allegations,” he added.
Kundra reiterated that the allegations were not true and his act of submitting his shares is not an act of guilt.
“I hope this gesture, from my part, will help in the effort to restore the faith in the great game fo cricket. I remain committed to Rajasthan Royals,” said Kundra.
