A statement issued by Ranjit Barthakur (Chairman) and Raghu Iyer (CEO) on Friday said: “We believe Mr. Raj Kundra is a law abiding citizen and would not act contrary to law. If however, he is proven guilty, or has breached any regulations, he will be suspended, and he will also forfeit his shares.” This is a strict governance procedure agreed to by all Rajasthan Royals shareholders, and it is consistent with our zero tolerance approach.”

On Thursday, Delhi Police had claimed that the 37-year-old confessed to betting on IPL matches, including a few which involved RR. Mr. Kundra, a British Indian businessman, is a minority shareholder and owns 11.7% shares in the team. The statement also claims Kundra “has no involvement in the running of the franchise.”

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