Raj Kundra : I have done no wrong

I have done no wrong; will forfeit shares, if proved wrong, says Rajasthan Royals co-owner Raj Kundra

The Rajasthan Royals IPL franchise has said if co-owner Raj Kundra is found guilty of betting, he will be suspended and will forfeit his shares in the team. A few hours later, Mr Kundra, who owns 11.7 per cent stake in the Royals along with wife and actor Shipa Shetty, issued a statement, saying he has done no wrong and will "unhesitatingly forfeit" his shares if he is proved guilty.  "Some misconception prevails in the minds of some people which is causing most undeserved embarrassment to me and my family. I wish to clarify by this statement that I have not committed any wrong and am myself extremely anxious to know the whole truth," Mr Kundra said today. (Full statement)

"As far as my alleged own act of commission or omission is concerned, I reiterate that I am totally innocent and in any event I wish to make it abundantly clear that if an iota of wrong doing is finally established against me I would unhesitatingly forfeit my share in the franchise," he added.  The Rajasthan Royals in its statement had said, "We have always been clear that the same rules apply to players, management or owners. As such, our actions will be consistent as in the case of the spot fixing allegations with respect to our players. Mr. Raj Kundra is a minority (11.7%) shareholder, and he has no involvement in the running of the franchise. We believe that Mr. Raj 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." (Read full statement)

The Delhi Police yesterday alleged that Mr Kundra has, during a 10-hour-long interrogation, admitted to placing bets worth Rs. 1 crore in the last three years on IPL matches. Gambling on all sports except horse-racing is illegal in India. The police's allegations against Mr Kundra will be discussed at an emergency meeting of the Board of Control for Cricket in India or BCCI on Monday. Rules say an IPL franchise can be terminated if a team- owner "acts in a way that brings the BCCI/IPL/game of cricket into disrepute."

Mr Kundra's wife and partner Shilpa Shetty has also denied reports that she also placed bets on one match, a claim made by Mr Kundra's business partner Umesh Goenka, according to the Delhi Police. Three Rajasthan Royals players, including Test bowler S Sreesanth, are currently in jail after they were arrested last month on allegations of spot-fixing.