Rajasthan Royals: Shilpa-Raj stake is legitimate

<img border='0' align='left' title=' ' src='http://www.ndtv.com/convergence/images/thumbnail/ver1/s/shilpa-raj.jpg' class='caption'> A day after BCCI chief Shashank Manohar said there were irregularities in the bidding of two IPL teams, Rajasthan Royals has issued a clarification.

Updated: April 27, 2010 10:04 IST
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After questions were raised about why they're not mentioned in ownership documents for the Rajasthan Royals, Shilpa Shetty and husband Raj, along with their co-owners, have said they're legitimate stakeholders in the Jaipur team of the Indian Premier League (IPL). On Monday, Shashank Manohar, president of the Board of Control for Cricket in India (BCCI), said that the parentage of the Royals seems uncertain. "We are asking Modi, how can he sign an agreement with A when the bid came from B. Modi made a statement that the entire world knows who the shareholders are but the fact is that not even the Governing Council members know about Rajasthan Royals. I did not find the names of Shilpa Shetty and Raj Kundra in the papers and they claim to be stakeholders." An alarmed Shilpa Shetty tweeted on Monday "Woke up & heard on TV that we're not co-owners of RR! There's no doubt Raj is a stake holder & I'm the brand ambassador." Forty per cent of the Royals franchise is owned by Suresh Chellaram, Modi's wife's brother-in-law. The board says that if shares were transferred to Shilpa and her husband after they invested in the Royals, no transfer fee has been paid.

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