Fight for Rajasthan Royals stake: Bombay High Court allows Raj Kundra to challenge UK court order

The Bombay High Court on Monday permitted businessman Raj Kundra to challenge an ex parte anti-suit injunction granted by the High Court of England and Wales in relation to his 11.7% stake in IPL franchise Rajasthan Royals. [Kuki Investments Limited & Anr v. Emerging Media Ventures Ltd & Ors]

Justice Abhay Ahuja granted leave under Clause XII of the Letters Patent, thus allowing the institution of the suit on the Original Side of the High Court. 

The proposed suit seeks a declaration that the anti-suit injunction granted by the High Court of England and Wales is bad in law, along with permanent, interim and ad-interim injunctions.

The plea highlights that Kuki Investments, a Bahamas-based company owned by Kundra, beneficially holds 11.70% of the issued and paid-up share capital of Royals Multisport Private Limited, owner of the Rajasthan Royals IPL franchise. It holds the stake through EM Sporting Holdings Limited, an investment vehicle based in Mauritius. Emerging Media Ventures, an England-and-Wales incorporated company, controls EM Sporting. 

In 2025, Kundra approached the National Company Law Tribunal (NCLT) in Mumbai with a company petition alleging oppression and mismanagement against Emerging Media. The allegations included siphoning of funds, related-party transactions and non-maintenance or fabrication of statutory records. 

While the NCLT petition was pending, Emerging Media Ventures initiated proceedings in the High Court of England and Wales and obtained an ex-parte anti-suit injunction order on January 29, 2026. 

The order restrains Kundra and Kuki Investments from going ahead with NCLT proceedings or initiating any proceedings in India against Emerging Media. 

Kundra then approached the Bombay High Court under Clause XII of Letters Patent characterising the England order as "non est, violative of principles of natural justice and unenforceable". He further contended that the anti-suit injunction order was prejudicial to his company's interests as it prevented it from pursuing statutory remedies in India.

On jurisdiction, Kundra said that a substantial part of the cause of action arose in Mumbai, since he resides in Mumbai, Royals Multisport has its registered office in Mumbai, the alleged acts of oppression relate to that Indian company and the NCLT proceedings are pending in Mumbai. 

Justice Ahuja accepted the contention and granted leave to Kundra to file a suit seeking an anti-enforcement order against the operation of the English anti-suit injunction within India.

Advocates Nausher Kohli and Soham K, briefed by a team from S&T Legal including partner Akshay Gosavi and junior partner Ankit Pitti, appeared for Kuki Investments and Kundra. 

[Read order]