THE BOMBAY HGH COURT has granted businessman Raj Kundra permission to challenge an anti-suit injunction issued by a UK court concerning his stake in Indian Premier League (IPL) franchise Rajasthan Royals, adding a fresh chapter to a long-running legal saga linked to the team’s ownership.
Justice Abhay Ahuja allowed Kundra to move forward with his plea by granting leave under Clause XII of the Letters Patent, enabling the suit to be filed on the court’s Original Side.
The dispute arises from an ex parte anti-suit injunction passed in January 2026 by the High Court of England and Wales, restraining Kundra and his firm, Kuki Investments, from pursuing proceedings before the National Company Law Tribunal (NCLT) or initiating action in India against Emerging Media Ventures.
Kundra’s proposed suit seeks a declaration that the UK court’s order is legally untenable, along with permanent, interim and ad-interim reliefs.
Entry and Exit
Kundra, along with his wife, actor Shilpa Shetty, had acquired an indirect stake in Rajasthan Royals in 2009 through offshore investment structures, becoming minority stakeholders in the IPL franchise, which was among the original teams when the league launched in 2008.
However, his association with the franchise came under scrutiny during the 2013 IPL betting scandal, where allegations of betting and spot-fixing surfaced across the league. Kundra was subsequently investigated by Indian authorities and later faced action from cricket administrators.
In 2015, the Supreme Court of India-appointed Lodha Committee found Kundra guilty of betting, leading to a life ban from cricket-related activities. The controversy also contributed to Rajasthan Royals being suspended from the IPL for two seasons (2016 and 2017).
Following these developments, Kundra exited the franchise, divesting his stake amid regulatory and reputational pressures. However, residual ownership structures and financial interests linked to his investment have continued to be the subject of legal disputes.
Ongoing Ownership Dispute
According to the current plea, Kuki Investments—a Bahamas-based entity owned by Kundra—retains an 11.7% stake in Royals Multisport Private Limited, the company that owns Rajasthan Royals. This stake is routed through EM Sporting Holdings Limited, a Mauritius-based vehicle controlled by Emerging Media Ventures.
In 2025, Kundra approached the NCLT in Mumbai alleging oppression and mismanagement by Emerging Media Ventures, citing issues such as alleged siphoning of funds, related-party transactions and lapses in statutory compliance.
While those proceedings were underway, Emerging Media secured the anti-suit injunction from the UK court on January 29, 2026.
Challenging the order before the Bombay High Court, Kundra argued that it was “non est, violative of principles of natural justice and unenforceable,” contending that it prevented his company from exercising remedies under Indian law.
On jurisdiction, Kundra maintained that key elements of the dispute are rooted in Mumbai, including his residence, the registered office of Royals Multisport, and the ongoing NCLT proceedings. The court accepted this position and permitted him to file a suit seeking to restrain enforcement of the UK court’s order within India.
