Raj co-owner of Royals: Shilpa

Raj co-owner of Royals: Shilpa

Raj co-owner of Royals: Shilpa

Shilpa made the clarification on Twitter after Board of Control for Cricket in India (BCCI) president Shashank Manohar said the shareholding document of Rajasthan Royals does neither have Kundra’s name as a shareholder, nor of Shilpa, although she is claiming to be the stakeholder of the RR.

One of the charges against the suspended IPL chairman and commissioner Lalit Modi is with regard to the initial bid of Rajasthan Royals, which won the inaugural edition in 2008.

Manohar said in his news conference earlier that regarding RR, shares of two persons were sold and transferred to certain individuals and companies. “There is a company called Tresco and Blue Water... nobody knows what is Blue Water and what is Tresco and all these things. I did not find in the shareholders’ register the name of Raj Kundra or Shilpa Shetty who claim to be the stakeholders,” Manohar, himself a leading lawyer, said.

“Woke up and heard on TV that we are not co-owners of Rajasthan Royals. Only want to say there is ‘NO DOUBT’ that RAJ is a stakeholder and I am the brand ambassador,” Shetty wrote on her Twitter page.

“This is the truth !Dunno (Don’t know) why all this confusion. Will have clarity on a lot of things by tomorrow,” she wrote in the next tweet.
On his part, Manohar pointed out that Shipla and Raj Kundra, who were reportedly sold 12.5 per cent of RR franchise stakes by the original owners –– Emerging Media of UK –– are not named as shareholders in the documents available with the BCCI.
Manohar also alleged that neither the permission of the IPL Governing Council was taken as required nor was the BCCI paid its due share of five per cent transaction fee for transferring shares.

“There was a company based in UK by the name of Emerging Media IPL. The company was owned by a single individual Manoj Badale. The company started four months earlier to the bid. His bid was accepted. However, the agreement is signed with the Jaipur IPL,” the board chief explained.
Manohar also said the agreement was signed by two other persons who were not part of the original bid.

“There is an interesting fact to be noted; this is a company wherein there were only two stakeholders at the time the agreement was signed. The two stakeholders were one Mr (Fraser) Castellino and Bal Thakur. Now the bid is given by A, the document signed by B, who had nothing to do with the bid. Then separate companies have come in who are registered in Mauritius,” he said.
None of the other IPL Governing Council members were aware of these things, Manohar claimed.
DH News Service