Businessman Raj Kundra, husband of actress Shilpa Shetty and former co-owner of the Rajasthan Royals, has ignited a fresh controversy by alleging financial misconduct against a key promoter of the Indian Premier League (IPL) franchise. Kundra claims to possess documented evidence exposing serious irregularities, including money laundering through offshore accounts and hidden financial transactions.
Kundra took to LinkedIn on May 29, 2025, to announce his intentions, stating, "I will soon be releasing documented evidence exposing serious financial misconduct, money laundering through offshore structures, and hidden transactions involving a key promoter of the Rajasthan Royals." He further alleged "suppression of co-promoter rights" and "deceit and manipulation" in shareholder dealings, hinting at a broader pattern of malpractice within the franchise's ownership structure.
Adding a cryptic touch, Kundra shared an image with the words "Karma Bol" ("Karma Speaks"), tagging the Board of Control for Cricket in India (BCCI) in his post. This move suggests the gravity of his claims and potentially signals his intent to involve the governing body in the matter. He has further announced that he will be holding a press conference on Monday, June 2nd, where he plans to release the purported evidence. His PR team will disclose the exact venue on the morning of the conference.
These revelations have stirred significant interest among cricket enthusiasts and industry insiders, particularly given Kundra's own controversial history with the Rajasthan Royals. In 2009, Kundra and Shetty acquired an 11.7% stake in the team for a reported $15.4 million. However, his association with the franchise ended in 2015 when he received a lifetime ban from all cricket-related activities after being found guilty of involvement in the 2013 IPL betting scandal.
Kundra's past controversies add a layer of complexity to his present allegations. Following the 2013 scandal, a Supreme Court-appointed panel imposed the ban, and he subsequently sold his stake in the Rajasthan Royals. While he admitted to betting on IPL matches, he denied any involvement in match-fixing.
The Rajasthan Royals have faced scrutiny over the years, including unresolved questions surrounding ownership structures dating back to 2010. Kundra's accusations could potentially reopen old wounds and reignite debates about transparency and accountability within the IPL. If the allegations prove credible, the BCCI may face pressure to re-examine past clearances and launch an internal investigation.
The nature and extent of the alleged financial misconduct remain to be seen, but Kundra's announcement has already sparked curiosity and concern among cricket fans, stakeholders, and sports journalists. With a history of high-stakes drama, the IPL has often been subject to controversies, and Kundra's impending exposé could trigger another significant shift in how the league and its franchises are scrutinized. All eyes are now fixed on the promised evidence and the BCCI's subsequent actions.
