The Board of Control for Cricket in India has maintained the existing ban on businessman Raj Kundra, effectively disallowing him from any involvement in the Indian Premier League (IPL).
Sources told NDTV that Kundra recently wrote a formal letter to the BCCI, prompting the board's legal team to initiate a detailed review of the matter. The investigation will determine whether any further action or reconsideration is warranted.
BCCI sources clarified that no developments regarding Kundra's possible re-entry or association with IPL matters — particularly those linked to the Rajasthan franchise — will proceed until the legal review is completed.
The Bombay High Court on Monday allowed Raj Kundra to challenge an ex parte anti-suit injunction issued by the High Court of England and Wales concerning his 11.7% stake in Rajasthan Royals. Justice Abhay Ahuja granted leave under Clause XII of the Letters Patent, permitting Kundra to institute proceedings on the Original Side of the High Court. The proposed suit seeks a declaration that the UK court's anti-suit injunction is invalid in law, along with permanent, interim and ad-interim injunctions.
Rajasthan Royals was purchased by the Kal Somani-backed consortium for $1.63 billion for over Rs 15,000 crore this week, marking one of the most significant acquisitions in IPL team history. Somani is a US-based entrepreneur who has held a minority stake in Rajasthan Royals so far. He has now joined forces with Walton, who is the eldest son of Walmart founder Sam Walton and is among the richest individuals in the world.
Reports have suggested that former IPL chairman and founder, Lalit Modi, may have joined hands with Kal Somani's group to form a stronger bidding consortium.
ALSO READ: IPL Now A Playground For India Inc Next Gen | An Infographic Story
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.