Raj Kundra demands BCCI probe into Rajasthan Royals ownership, makes explosive Lalit Modi allegation

Former Rajasthan Royals co-owner Raj Kundra has reportedly written to the BCCI, calling for an investigation into alleged financial irregularities linked to the franchise’s ownership structure. Kundra claimed that the original ownership arrangement involved undisclosed transactions connected to Lalit Modi.

Kundra’s move comes as the inaugural IPL champions undergo a major ownership change. He challenged the recent multi-billion-dollar deals, arguing that his 11.7% stake in the franchise was never legally transferred following his 2015 suspension and that he still retains rights related to the shareholding.

Raj Kundra Alleges Hidden Payments Linked to Rajasthan Royals Ownership

Raj Kundra claimed that financial records point to transfers totaling USD 2.5 million into a bank account belonging to Manoj Badale. According to his allegations, the payments were connected to the funds used for Rajasthan Royals’ franchise acquisition from the BCCI in 2008.

In a letter to the BCCI, Kundra stated that the transactions raise serious questions about the franchise’s original ownership structure. He alleged that the undisclosed payments suggest that Lalit Modi may have held an unreported financial interest in Rajasthan Royals, which would be a violation of IPL and BCCI regulations.

“Based on information supported by eyewitness testimony and financial trails, I have reason to believe that on 18 January 2008: Lalit Modi, through Lalit Modi Sporting Ventures, transferred USD 1.5 million to the Citibank account of Manoj Badale; Suresh Chellaram, via Kabu Holdings, transferred USD 1 million to the same account. These funds appear to be linked to the USD 5 million payment made to the BCCI in relation to the franchise acquisition.”

🚨 BIG IPL BOMBSHELL 🚨

Raj Kundra has reportedly written to the BCCI alleging serious financial irregularities involving Lalit Modi and Rajasthan Royals’ original ownership structure.

According to the letter, financial trails indicate that $2.5 million was transferred in… pic.twitter.com/FxeFPno4u7

— The Analyzer (News Updates🗞️) (@Indian_Analyzer) June 19, 2026

Raj Kundra Warns BCCI of Legal Action Over Rajasthan Royals Ownership Allegations

Raj Kundra alleged that the transactions mentioned in his complaint were never properly disclosed to cricket authorities or regulators. He claimed that important banking records were withheld during previous investigations by the Enforcement Directorate.

In the letter, Kundra urged the BCCI to act on the information and warned that he is prepared to take the matter to legal and regulatory authorities if no action is taken. He also stated that he can provide additional evidence and eyewitness testimony to support a full investigation.

“Please note that failure to act on this information may compel me to seek remedies before appropriate legal and regulatory forums, including placing these facts before judicial authorities. I am prepared to submit supporting material and produce eyewitnesses to assist in a full and fair inquiry. The credibility of the IPL and the governance standards of the BCCI are at stake.”

Raj Kundra’s Rajasthan Royals Stake at the Center of Ownership Dispute

Raj Kundra acquired an 11.7% stake in Rajasthan Royals in 2009 alongside his wife, Shilpa Shetty. His involvement with the franchise ended after the 2013 IPL spot-fixing scandal, which resulted in a lifetime ban for Kundra and a two-year suspension for Rajasthan Royals.

Despite filing complaints with the National Company Law Tribunal (NCLT), Rajasthan Royals recently completed a major ownership deal. A consortium led by Lakshmi Niwas Mittal and Adar Poonawalla acquired a 93% stake in the franchise for $1.65 billion.

The BCCI’s lifetime ban on Kundra remains in place, preventing him from taking part in IPL ownership or administration. However, BCCI will review the allegations raised in his letter about Rajasthan Royals’ early ownership and financial transactions.