Latest news with #ManojBadale
India.com
41 minutes ago
- Business
- India.com
Bad news for Shilpa Shetty, RR owner takes BIG action, husband Raj Kundra been accused of...
Image credit: X (Formerly Twitter) Image credit: X (Formerly Twitter) Bollywood star Shilpa Shetty and Raj Kundra used to be co-owners of Rajasthan Royals team. Their team RR had won the inaugural IPL title in 2008. Image credit: X (Formerly Twitter) Raj Kundra and Shilpa Shetty had to sell their 11.7 per cent stake in RR team in 2015 after being found guilty of betting on IPL matches. Image credit: X (Formerly Twitter) Manoj Badale is currently majority share owner in Rajasthan Royals. Badale and his Emerging Media Ventures owns 65 per cent in Rajasthan Royals. Image credit: X (Formerly Twitter) Manoj Badale and his company have sued Raj Kundra for blackmail in UK High Court. Badale is alleging that Kundra wants to break terms of confidential agreement from 2015. Image credit: X (Formerly Twiitter) Manoj Badale says Raj Kundra is threatening to approach BCCI and Indian authorities. Badale claims he received mail from Kundra saying he was defrauded in regards to value of his 11.7 per cent shares. Shilpa Shetty's husband Raj Kundra claims Manoj Badale will be 'exposed'. Kundra said that he was willing to discuss a deal involving "the restoration of my original equity or compensation reflecting the true and current valuation of the Rajasthan Royals franchise". Image credit: X (Formerly Twitter) Manoj Badale has obtained interim injunction against Raj Kundra on May 30. It prevents Kundra from breaching the settlement agreement by making disparaging statements.
Reuters
20 hours ago
- Business
- Reuters
IPL's Royals owner accuses former co-owner of blackmail in UK court
LONDON, June 25 (Reuters) - Indian Premier League cricket franchise Rajasthan Royals' majority owner on Wednesday accused his former co-owner of trying to blackmail him by alleging he was defrauded out of his minority stake in the club. London-based venture capitalist Manoj Badale and his company Emerging Media Ventures are suing businessman Raj Kundra at London's High Court for allegedly breaching a 2019 confidential settlement agreement. The case centres on Kundra's former shares in Rajasthan Royals, winner of 2008's inaugural IPL which is now cricket's richest tournament with a brand value of $12 billion. Badale's lawyer Adam Speker said Kundra, who is married to Bollywood star Shilpa Shetty, had threatened to report serious allegations to Indian authorities in a "blackmail attempt". Kundra, however, says he has been told information about the claimants and his lawyer William McCormick that, if that is not true, "in due course it will be exposed". Kundra had to forfeit his 11.7% stake after being found guilty in 2015 of betting on IPL games in a scandal which led to the Rajasthan Royals being suspended for two years, Speker said. He added in court filings that Kundra emailed Badale "out of the blue" last month, alleging he had been "misled and defrauded of the rightful value of my 11.7% stake". The email to Badale said Kundra had filed a complaint with Indian authorities and threatened to make a report to India's Cricket Board (BCCI). Kundra added, however, that he was willing to discuss a deal involving "the restoration of my original equity or compensation reflecting the true and current valuation of the Rajasthan Royals franchise". Speker said Kundra also messaged disgraced IPL founder Lalit Modi this month, saying Badale "did not realise cheating me of the true value would cost him dearly". Badale and his Emerging Media Ventures, which holds a 65% stake in Rajasthan Royals, obtained an interim injunction against Kundra on May 30, preventing Kundra from breaching the settlement agreement by making disparaging statements. Kundra's lawyer McCormick said Kundra accepted the injunction should continue until a full trial of the lawsuit. "It is not an admission that anything improper has been done or is being threatened," McCormick said.
Yahoo
20 hours ago
- Business
- Yahoo
Cricket-IPL's Royals owner accuses former co-owner of blackmail in UK court
By Sam Tobin LONDON (Reuters) -Indian Premier League cricket franchise Rajasthan Royals' majority owner on Wednesday accused his former co-owner of trying to blackmail him by alleging he was defrauded out of his minority stake in the club. London-based venture capitalist Manoj Badale and his company Emerging Media Ventures are suing businessman Raj Kundra at London's High Court for allegedly breaching a 2019 confidential settlement agreement. The case centres on Kundra's former shares in Rajasthan Royals, winner of 2008's inaugural IPL which is now cricket's richest tournament with a brand value of $12 billion. Badale's lawyer Adam Speker said Kundra, who is married to Bollywood star Shilpa Shetty, had threatened to report serious allegations to Indian authorities in a "blackmail attempt". Kundra, however, says he has been told information about the claimants and his lawyer William McCormick that, if that is not true, "in due course it will be exposed". Kundra had to forfeit his 11.7% stake after being found guilty in 2015 of betting on IPL games in a scandal which led to the Rajasthan Royals being suspended for two years, Speker said. He added in court filings that Kundra emailed Badale "out of the blue" last month, alleging he had been "misled and defrauded of the rightful value of my 11.7% stake". The email to Badale said Kundra had filed a complaint with Indian authorities and threatened to make a report to India's Cricket Board (BCCI). Kundra added, however, that he was willing to discuss a deal involving "the restoration of my original equity or compensation reflecting the true and current valuation of the Rajasthan Royals franchise". Speker said Kundra also messaged disgraced IPL founder Lalit Modi this month, saying Badale "did not realise cheating me of the true value would cost him dearly". Badale and his Emerging Media Ventures, which holds a 65% stake in Rajasthan Royals, obtained an interim injunction against Kundra on May 30, preventing Kundra from breaching the settlement agreement by making disparaging statements. Kundra's lawyer McCormick said Kundra accepted the injunction should continue until a full trial of the lawsuit. "It is not an admission that anything improper has been done or is being threatened," McCormick said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
