Businessman Raj Kundra has secured initial relief from the Bombay High Court after the court permitted him to challenge an ex parte anti-suit injunction issued by the High Court of England and Wales in connection with his 11.7 percent stake in Rajasthan Royals.
The order was passed by Justice Abhay Ahuja under Clause XII of the Letters Patent, allowing Kundra to institute a suit on the Original Side of the High Court. The development marks an early legal win for Kundra in an ongoing dispute concerning shareholding and governance issues linked to the IPL franchise’s holding structure.
According to the plea, Kuki Investments, a Bahamas-based entity owned by Kundra, holds 11.70 percent of the paid-up share capital of Royals Multisport Private Limited, the company that owns the Rajasthan Royals franchise. The stake is held through Mauritius-based EM Sporting Holdings Limited.
The dispute traces back to proceedings initiated by Kundra before the National Company Law Tribunal in Mumbai last year. In his company petition, Kundra alleged oppression and mismanagement by Emerging Media Ventures. The allegations included claims relating to siphoning of funds, related-party transactions and issues concerning statutory records.
Emerging Media Ventures subsequently approached the High Court of England and Wales and obtained an ex parte anti-suit injunction on January 29, 2026. The order restrained Kundra and Kuki Investments from continuing proceedings before the NCLT or initiating any legal action in India against the company.
Kundra then moved the Bombay High Court, arguing that the England court’s injunction was not enforceable and violated principles of natural justice. He contended that the order adversely affected his company’s ability to pursue statutory remedies available in India.
On the question of jurisdiction, Kundra submitted that a substantial part of the cause of action arose in Mumbai. He pointed out that he resides in the city, Royals Multisport Private Limited is …read more
Disclaimer : This story is auto-aggregated by a computer program and has not been created or edited by FilmyFriday. Source:: BollywoodHungama
