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Actor <keyword id="19915080" type="General" weightage="100" keywordseo="Shilpa-Shetty" source="keywords">Shilpa Shetty</keyword> and her businessman husband <keyword id="19895826" type="General" weightage="20" keywordseo="Raj-Kundra" source="keywords">Raj Kundra</keyword> have moved the <keyword id="19905533" type="General" weightage="20" keywordseo="Bombay-High-Court" source="keywords" meta.keywordsubtype="org" meta.entityname="Bombay High Court" meta.hostid="153" meta.entityid="Bombay High Court">Bombay High Court</keyword> challenging ED's notices directing them to vacate their house in Mumbai's <keyword id="19933318" type="General" weightage="20" keywordseo="Juhu" source="keywords">Juhu</keyword> area and a farmhouse in Pune in connection with a money-laundering case. The pleas came up for hearing on Wednesday before a division bench of Justices Revati Mohite Dere and Prithviraj Chavan. The court issued notice to the <keyword id="19895344" type="General" weightage="20" keywordseo="Enforcement-Directorate" source="keywords" meta.keywordsubtype="org" meta.entityname="Enforcement Directorate" meta.hostid="153" meta.entityid="Enforcement Directorate">Enforcement Directorate</keyword> (ED) and posted the matter for hearing on Thursday. Their petitions challenge ED notices dated September 27 issued to Shetty and Kundra directing them to evict their residential premises here and a farmhouse in Pune within ten days in connection with a money-laundering case linked to an alleged <keyword id="23486542" type="General" weightage="20" keywordseo="Bitcoin-fraud" source="keywords">Bitcoin fraud</keyword>. The couple's advocate Prashant Patil said that Shetty and Kundra received the <keyword id="20675198" type="General" weightage="20" keywordseo="eviction-notices" source="keywords">eviction notices</keyword> only on October 3. He termed the notices arbitrary and illegal and sought them to be quashed. According to the pleas, there is no grave urgency for the petitioners to vacate their premises and that the issuance of such eviction notices was uncalled for. "The petitioners are also seeking relief on humanitarian grounds as the premise in question is their residential premise in which they have been staying with their family of six members for almost two decades," the petitions said. The pleas also sought HC to stay the effect of the eviction notices. As per the pleas, the ED had in 2018 lodged a complaint against one <keyword id="21346793" type="General" weightage="20" keywordseo="amit-bhardwaj" source="keywords">Amit Bhardwaj</keyword> and others for an alleged Bitcoin fraud and on charges of <keyword id="19899231" type="General" weightage="20" keywordseo="money-laundering" source="keywords">money laundering</keyword>. Both Shetty and her husband have not been named as accused in the case. The ED, during its probe, had summoned Kundra for questioning on several occasions. Kundra had appeared before the agency after each summons, the pleas said. In April 2024, Shetty and Kundra received a notice based on an order passed by the ED provisionally attaching their assets including their residential premise in Juhu that had been purchased by Kundra's father in 2009. Both Shetty and Kundra submitted their response to the notice. "However, in contravention to the provisions of law, the adjudicating authority confirmed the provisional attachment order on September 18, 2024. This order clearly states that the attachment is confirmed only till the conclusion of trial and is subject to its outcome," the pleas said. "The petitioners (Shetty and Kundra) on October 3 received two notices dated September 27, 2024, directing them to vacate their residential premises and the farmhouse," the petitions said. The petitions said no eviction order/notice can be issued prior to conviction. The pleas added that their residential premise has no connection with the scheduled offence or any proceeds of crime. The petitions further claimed that Kundra had absolutely no connection with the alleged fraud.

Shilpa Shetty and Raj Kundra's money laundering case takes new turn as they challenge the ED's eviction notices

The <keyword id="6357808" type="General" weightage="20" keywordseo="enforcement-directorate" source="Orion">Enforcement Directorate</keyword> (ED) has attached immovable and movable properties worth Rs 97.79 crore belonging to Ripu Sudan Kundra aka <keyword id="18641" type="General" weightage="20" keywordseo="raj-kundra" source="Orion">Raj Kundra</keyword>, businessman, and husband of Bollywood actor <keyword id="6358615" type="General" weightage="20" keywordseo="shilpa-shetty" source="Orion">Shilpa Shetty</keyword>, under the provisions of Prevention of Money Laundering Act (PMLA), 2002. The attached properties include a residential flat in Juhu, which is in the name of Shilpa Shetty, another residential bungalow in Pune and equity shares in Raj Kundra's name. The financial probe agency had initiated an investigation based on multiple FIRs registered by Maharashtra Police and Delhi Police against Variable Tech Pte Ltd, Late Amit Bhardwaj, Ajay Bhardwaj, Vivek Bhardwaj, Simpy Bhardwaj, Mahender Bhardwaj and a number of MLM agents. It has been alleged that they had collected huge amounts of funds in the form of <keyword id="6395759" type="General" weightage="20" keywordseo="bitcoins" source="Orion">Bitcoins</keyword> (worth Rs 6,600 crore in 2017 itself) from the public with false promises of a 10 per cent per month return in the form of Bitcoins. The collected Bitcoins were supposed to be utilised for Bitcoin mining, and investors were to get huge returns in Crypto assets. "But the promoters cheated the investors and have been concealing the ill-gotten Bitcoins in obscure online wallets. The probe also revealed that Raj Kundra received 285 Bitcoins from the mastermind and promoter of Gain Bitcoin Ponzi Scam, Amit Bhardwaj, for setting up a Bitcoin mining farm in Ukraine," ED said in a statement issued on Thursday. The said Bitcoins were sourced out of proceeds of crime collected by Amit Bhardwaj from gullible investors. "Since the deal didn't materialise, Kundra is still in possession and enjoyment of 285 Bitcoins which are presently valued at more than Rs. 150 Crore," said the ED official. During the investigation, multiple search operations were carried out in this case and three persons were arrested. "Simpy Bhardwaj was arrested on December 17, 2023, Nitin Gaur on December 29, 2023, and Nikhil Mahajan on January 16, 2023. All of them are presently in judicial custody as of date," said the official. However, the main accused Ajay Bhardwaj and Mahendra Bhardwaj are still absconding. Earlier, ED had attached properties worth Rs 69 crore. The Prosecution Complaint in this was filed on June 11, 2019, and the Supplementary Prosecution Complaint on February 14, 2024. "The Special PMLA court has taken cognizance of the same. Further investigation is under progress," the official added.

Bitcoin scam case: ED attaches assets worth over Rs 97 cr of Raj Kundra, Shilpa Shetty

Businessman <keyword id="18641" type="General" weightage="20" keywordseo="raj-kundra" source="Orion">Raj Kundra</keyword>, who was arrested on the charges of producing pornogrpahic content, is all set for the release of his movie 'UT 69'. He shared how he wanted to relive the entire experience of his days in prison, adding that he wanted a closure. The trailer of the movie offers a perspective on Kundra's life, shedding light on the 63 days he spent at Mumbai's <keyword id="6363226" type="General" weightage="80" keywordseo="arthur-road-jail" source="Orion">Arthur Road Jail</keyword> while under trial. The film, a witty dark comedy, brilliantly captures the trials, challenges, and unexpected friendships that Raj struck during his time in jail. Speaking to IANS, Raj opened up on the toll it took on him while shooting the movie, the controversy and his acting debut. He said: "I had to relive it again and somewhere I wanted to relive it, because I wanted a closure on this, and I was not getting a closure. When I came out, I was disturbed, anxious, I wasn't feeling good about anything." "I was going to write a book and wanted the world to hear what I went through, and director Shahnawaz Ali sir thought that better than hearing what you went through, people should see what you went through. Visually it's always better. It's like Instagram versus Twitter. People prefer Instagram because photos and videos sell better I guess," he said. He further shared: "And when we made this film, I thought somewhere this chapter will close. It's not redemption yet until the clean chit comes, but somewhere I feel that with the story coming out, which is not just my story and everyone around me, maybe some good will come out of it, some help will come out of it. I don't know what will happen, but there's a lot that can happen." How did he adapted the controversy on the screen? Raj said: "We don't talk about the controversy. We speak about the time inside Arthur Road jail. From the time I entered the red gate to the time I left -63 days inside, the survival, how we managed in the toughest of circumstances in one of the most crowded jails in the world. That's the story." "We didn't touch upon the case at all, because the matter is subjudice and it is still in court. There is a legal battle going on. So there is nothing controversial around the case, but there are a lot of interesting, engaging, borderline controversial things that happened inside the jail," he said. Talking about his acting debut, Raj said: "I was happy producing behind the camera. I think it is Shahnawaz sir's conviction. He felt the true story should be told by the person who actually went through it. He said, 'you have gone through it Raj, you tell the story your way. Acting I will take out of you. It's you, you don't have to do makeup, or act like someone, it's just going to be about you.'" "I think it is the first time ever a true story is being told by the person with whom it has actually happened. For me I found that interesting. I love challenges, I have been through enough challenges in my life," he said. Raj added: "I tell people, forget the case for a minute, put the case aside, go watch it as a piece of content, you will fall in love with the film, it's so beautiful. When Shilpa saw the film she loved it, AA decided to be the presenters, then it gave us the confidence that a lot of people are getting attached to the film, and they are liking it. Content is king, and we have one hell of a story to tell." The flick is slated for a theatrical release on November 3.

Seeking closure by re-living prison days: Raj Kundra on debut movie 'UT 69'

The <a href="http://www.businessinsider.in/searchresult.cms?query=IPL">IPL </a>controversy memories may not have faded yet, but the man at the center of it - Mr <keyword id="18641" type="PERSON" weightage="100" keywordseo="Raj-Kundra">Raj Kundra</keyword> - has managed to sail through troubled waters to keep his prosperous business career flourishing. Yes, for this former <keyword id="13802" type="CITY" weightage="100" keywordseo="Rajasthan-Royals">Rajasthan Royals</keyword> co-owner, his IPL investment goes out of the window, but there are newer ones on the cards already. The launch of his new Viaan mobile smartphones is testimony to the fact that there has been no stopping him ever since Justice Lodha Committee read out that judgement over IPL betting a few months ago, pronouncing him guilty and banning him for life. 
 This sports enthusiast feels it was an unfair trial but life doesn’t stop for him there. It didn’t stop for him either when doors were slammed on his face at the beginning of his career as he tried to sell the Pashmina shawls he bought from Nepal, to fashion houses in London. He was persistent. Soon, he rose from being a small-time seller to becoming the largest buyer of Pashmina shawls. Business opportunities in Antwerp, Russia, Ukraine and UAE pushed him forward into various ventures and investments across the board from mining to <keyword id="6354553" type="COMPANY" weightage="100" keywordseo="real-estate">real estate</keyword> and renewable energy to entertainment and hospitality. That’s not all. Today, he owns Indian television home shopping channel - Best Deal TV Pvt Ltd and a construction company called Kundra Constructions Pvt Ltd. Married to one of the prettiest and fittest <keyword id="143" type="CITY" weightage="100" keywordseo="Bollywood">Bollywood</keyword> stars, <keyword id="6358615" type="PERSON" weightage="100" keywordseo="Shilpa-Shetty">Shilpa Shetty</keyword>, Raj has evolved as one of the most recognized faces in the biz world today, more so after his recent decision to plunge into the risky consumer electronics space with the launch of affordable smartphones in the name of his son Viaan. 
 At a time when the mobile market is flooded with all kinds of phones – affordable to premium to luxury – and <keyword id="6354504" type="UNKNOWN" weightage="100" keywordseo="Reliance-Jio">Reliance Jio</keyword> is bracing up to descend in the market with its affordable Lyf phones, how is this British businessmen really planning to work this out for himself? As he bets his money in yet another business prospect that he believes in, <a href="http://www.businessinsider.in/">Business Insider</a> chats with him to get you a sneak peek into his beginning days of struggle, journey to a successful career amid lows and highs, and his newest venture with his wife Shilpa Shetty. 
 
Q) We understand you dropped out of college to choose a career path of your choice. Take us back to the beginning of your journey when you sold Pashmina shawls. 
 
I was 17 when my father gave me six months’ ultimatum to either choose a career line or manage the family-run restaurant business in London. Running the restaurant was not something I was keen on doing. So, I backpacked and set off to discover something that I would want to do my entire life, well aware that I will have to return to London and run the restaurant in case nothing worked out in these six months. However, during my visit to Nepal, my eyes were fixated on the colourful Pashmina shawls that were hanging outside several shops in Kathmandu. As I learnt more about it from the shopkeepers, I felt the product was interesting for the cold climate conditions in London. A credit card with 2000 pound limit in it was all I had. I asked the shopkeeper if he had a factory. He said yes. I asked him to give me one piece of every colour assuring him that I’ll soon get him orders. I swiped my credit card and put all the money into these Pashminas, and took these to London with me. As I reached out to several companies to sell the idea, doors were slammed on my face. Nobody wanted to talk to me since I was a single-man army. Soon, a chance meeting with someone at the airport landed me with a whopping 10,000 crore order. There started my journey. Luck was on my side, and there has been no looking back ever since. 
 
Q) Amid your successful businesses is a low point you faced when Justice Lodha Committee pronounced you guilty in the IPL betting controversy in July this year. It brings your crucial IPL business investment to an end. How has that affected you? 
 
It was not an investment for us, but something Shipla and I were passionate about. We had nothing to sell neither any product to advertise, it was just for the love of the game. I don’t agree with the report. First time around, they said Raj is in the clear but we need to investigate a bit more. To my surprise, without showing me any evidence they suddenly called me guilty. This is huge violation of natural justice. All I know is whoever was guilty has been arrested. I was not once arrested or picked up by the cops. Even they agree that there is no evidence against me. It was an unfair trial. I am not guilty. There’s nothing I have done and I clearly mentioned that if an iota of wrongdoing is found on my part, I’ll forfeit my shares. In any case, it was a judgement that we cannot argue about, so we silently walked off. I don’t want to do anything where there is violation of natural justice. 
 
What brings you to the mobile segment now? 
 
After trading Pashmina shawls, I got into buying and selling mobile phones in UK. It led to me learn the business and eventually, I understood that space very well. Today, I look at India as having so much potential with the demands of nearly 500 billion middle class population residing in the country. I would often complain about certain handsets not working in a certain way. Sometimes you just want to pick your phone, hear a human voice and get your work done. The personal touch that is lost in this tech age is something I still like. And so, I thought not everyone likes to use an app to book their tickets and maybe we need someone to go back to the basics. 
 
What’s the USP? 
 
Our USP is V Assist - 24x7 personalized concierge service which will provide users details on best deals on products and services. With the cheapest entry level phone, you have got a personal secretary at your service to do everything. Just pick your phone, get details and ask our staff to do it for you. It is a free subscription for 1 year. Also with every handset, we are giving a 2 lakh accidental insurance. It’s a lovely add-on. The trivia is that India is known as the accident capital of the world. We cannot prevent these accidents, but a lot of it happens when you are busy on your mobile phones. At least, we can help in this way. We are going to be all about service. 
 
So are others. Don’t you feel that the entering the mobile market is a risky affair with the telecom giants innovating day by day. Soon, Reliance Jio’s Lyf phones which are again affordable phones like yours will hit the market. How do you aim to crush your competition? 
 
I think there is no dearth of demand. Look at the consumption. There are 2 crore handset requirements every month in India and it’s growing at 20-30 per cent every year. It’s a huge consumer market and an average consumer changes his phone twice in a year. With a billion people living in the country, one can imagine the actual consumption. Yes it’s cluttered and you need to create the brand, but it all goes down to service when it comes to a handset. You will provide the same features - camera, memory, speed etc. What different can you do? It is all going to be in the service you offer, the quality of your phone and the affordability factor. 
 
What are you expecting as returns from this new venture in the coming 2-3 years? 
 
We have tied up with a company in Ukraine and we have already launched in 7 CIS countries simultaneously. This one agent in Ukraine is going to look at the CIS turf. His projected business is $80 million a year. If I am taking $80 million internationally and I am doing the same kind of figure in India, you have done a business which is nearly $200 million in the first year itself. Success is assured. 
 
With several start-ups waiting to climb up the ladder of success, what would be your one advice to the newbies? 
 
You have to take risks if you want to run a business. As they say, with no risk comes no gain. However, you can minimize the perceived damage the decision can have of play safe if you take calculated risks. When you put money somewhere, just make sure you are able to see an exit option during unforeseen circumstances.

Raj Kundra- The shrewd
opportunist, with a never-say-die-attitude

The <keyword id="6354312" type="CITY" weightage="100" keywordseo="IPL">IPL</keyword> Governing Council members will soon be meeting to discuss the implications and the road ahead after the verdict by the <keyword id="2803450" type="UNKNOWN" weightage="100" keywordseo="Lodha-Committee">Lodha committee</keyword> banning Chennai Super Kings and <keyword id="13802" type="CITY" weightage="100" keywordseo="Rajasthan-Royals">Rajasthan Royals</keyword> for two yeras from the IPL besides imposing life suspensions on their tainted officials <keyword id="1682587" type="PERSON" weightage="100" keywordseo="Gurunath-Meiyappan">Gurunath Meiyappan</keyword> and <keyword id="18641" type="PERSON" weightage="100" keywordseo="Raj-Kundra">Raj Kundra</keyword>. "We were having some informal discussions once the verdict was announced. An emergent meeting is on the cards where the members will be apprised of the situation and the road ahead will be only chalked out after our legal team goes through entire contents of the copy of the verdict," a senior <keyword id="6354756" type="CITY" weightage="100" keywordseo="BCCI">BCCI</keyword> functionary and IPL Governing Council member member told PTI today. However, the three primary points that have emerged from the discussions between the senior functionaries are that of whether new companies will be allowed to bid for two vacant slots, whether all players or only the <keyword id="122828" type="COMPANY" weightage="100" keywordseo="CSK">CSK</keyword> and RR players will be going into auctions and also the case of the de-merger of the CSK from its parent company India Cements Limited. 

	"Since during our last GC meeting, we have forwarded the matter of CSK's de-merger and share valuation issue to the Working Committee, who will be taking legal opinion, we have to wait for it. Now current owners of CSK and Royals may be in a mood to sell their franchises to new owners but there are a few problems," another GC member explained the current situation.
 

	"The moment CSK or RR is sold off in its current state to a new owner, the existing legal liabilities will then be burden of the new owner. Plus both franchises have lost goodwill. In this existing scenario can they be sold off or new buyers will be interested?" he questioned.
 

	"Since Lodha committee has stated that the BCCI needs to look at it, we must be very careful about it and also keep the legal implications in mind," he said.
 

	The last crucial point is the case of new bids being invited by the BCCI to again make it an eight-team league but the case of Players' Auction is then closely related to the issue.
 

	"There are two options related to this matter. The BCCI invites tender for fresh bidding of two new IPL franchises. Since around 45-odd players from these two franchises will become free due to the verdict, a mini-auction is held and the two new franchises are allowed to pick from the existing pool of players.
 

	"But then the new owners might oppose the idea of getting to select players from a restricted pool. In that case, it needs to be decided whether a fresh auction may be called having all the players from all the teams back in the auction pool," said the source.
 

	A fresh auction was supposed to be held before the 2017 IPL but current situation may drive BCCI to have one before the scheduled time.
 The other aspect will be Srinivasan's fate as <keyword id="2949656" type="POSITION" weightage="100" keywordseo="BCCI-representative">BCCI representative</keyword> in ICC. While the issue is supposed to come up in September, the verdict will certainly make BCCI mandarins have a rethink on having him as their representative. 
	 
	(Image credits: Indiatimes)

Furore after Lodha committee verdict

The Supreme Court appointed high-level committee led by former Chief Justice RM Lodha on Tuesday found <keyword id="13886" type="ORGANIZATION" weightage="100" keywordseo="Chennai-Super-Kings">Chennai Super Kings</keyword> official <keyword id="1682587" type="PERSON" weightage="100" keywordseo="Gurunath-Meiyappan">Gurunath Meiyappan</keyword> guilty of betting during <keyword id="6354831" type="ORGANIZATION" weightage="100" keywordseo="Indian-Premier-League">Indian Premier League</keyword> season 6. 
 Pronouncing the verdict, Justice Lodha said Meiyappan was found guilty of betting, whereas co-owner of <keyword id="13802" type="CITY" weightage="100" keywordseo="Rajasthan-Royals">Rajasthan Royals</keyword>, <keyword id="18641" type="PERSON" weightage="100" keywordseo="Raj-Kundra">Raj Kundra</keyword>, was found guilty of misconduct. 
 
Both the teams, Rajasthan Royals (RR) and Chennai Super Kings (CSK), have been banned from the IPL for two years. 
 
While addressing mediapersons in New Delhi, Justice Lodha said that Meiyappan was an integral part of CSK and should not have indulged in corrupt practices. 
 
“He is found guilty of betting, his conduct affected the image of the BCCI, the league and the game,” said Justice Lodha. 
 
Meiyappan, son-in-law of former BCCI President N Srinivasan, has been banned for life from involvement in any type of cricket matches. 
 
Justice Lodha said that Kundra acted against contrary of the spirit of the game. 
 
“Mr Raj Kundra was placing bets through a known punter, was constantly in touch with bookies. Kundra didn't have true love for the game. He acted contrary to the spirit of the game. Kundra is declared ineligible in cricket participation for five years and suspended for life in any type of cricket matches,” said Justice Lodha. 
 
The committee also pulled up India Cements, owners of CSK, for not acting against Meiyappan. 
 
“The purity of the game has been affected by the actions of India Cements and CSK. Fans have been cheated. CSK or India Cements took no action against Meiyappan,” said the former CJI. 
 
The Supreme Court in January this year had held that betting allegations against Meiyappan and Kundra were proved. However, the apex court had dropped all charges against Srinivasan, as none of the allegations were proven against him. 
 
Meanwhile, the verdict was hailed by Jharkhand Cricket Association’s Subodhkant Sahay who termed it as a good and unprejudiced judgement. 
 
Bihar Cricket Association’s secretary Aditya Verma, who is the petitioner in the case, said justice had triumphed in the case. 
 
(Image: Indiatimes)

IPL Verdict: CSK, Rajasthan Royals banned for 2 years; Meiyappan, Kundra banned for life

The Supreme Court appointed high-level committee led by former Chief Justice RM Lodha on Tuesday found <keyword id="13886" type="ORGANIZATION" weightage="20" keywordseo="Chennai-Super-Kings">Chennai Super Kings</keyword> official <keyword id="1682587" type="PERSON" weightage="20" keywordseo="Gurunath-Meiyappan">Gurunath Meiyappan</keyword> guilty of betting during <keyword id="6354831" type="ORGANIZATION" weightage="20" keywordseo="Indian-Premier-League">Indian Premier League</keyword> season 6. 
 
Pronouncing the verdict, Justice Lodha said Meiyappan was found guilty of betting, whereas co-owner of <keyword id="13802" type="CITY" weightage="20" keywordseo="Rajasthan-Royals">Rajasthan Royals</keyword>, <keyword id="18641" type="PERSON" weightage="20" keywordseo="Raj-Kundra">Raj Kundra</keyword>, was found guilty of misconduct. 
 
Both the teams, Rajasthan Royals (RR) and Chennai Super Kings (CSK), have been banned from the <keyword id="6354312" type="CITY" weightage="20" keywordseo="IPL">IPL</keyword> for two years. 
 
It comes as a big decision because both CSK and RR are the top performing teams in the league and have won the tournament in past. Apart from the two team franchisees being banned from the tournament, the decision also affects all the stakeholders of the game including players, media, brands and sentiments of their loyal fans. Besides, the overall image of IPL as a tournament is also put under scanner. 
 
Sponsors? 
 
A large sum of money has been invested behind these teams, as brands have locked them in for sponsorships and media deals, for promotions across mediums. 
 
In 2015 alone, Rajasthan Royals grabbed 15 brand associations, of which three new brands came on board. It had had similar amount of brand associations during the last season. The new brands for Rajasthan Royals include Spice Mobiles, Kalasalingham University from Chennai and security firm CP Plus. Apart from this the team has 9 previous sponsors such as UltraTech, Rupa, Lawman Pg3, Mitashi, TCS, Kingfisher, Pepsi, Deakin University, ICE X and Kooh. 
 
On the other hand, Chennai Super Kings has been associated with brands such as India Cements, Aircel, Gulf Oil, Pepsi, Reebok and Usha. In 2015, FreeCharge and ShopClues.com also joined the brand wagon. 
 
Now, with the teams being taken off for a couple of years, what lies ahead for the brands? Saurabh Uboweja, CEO, Brands of Desire points out that the brands associated with the teams are at a lesser risk. "Sponsors will not be affected much and neither their equity will be diluted to a large extent as they have not done anything wrong. They have other options to endorse and will definitely go for other teams. While India Cements, that owns CSK, will be affected, but that too not in a large extent," adds Uboweja. 
 
To this, <keyword id="175362" type="PERSON" weightage="20" keywordseo="Harish-Bijoor">Harish Bijoor</keyword>, CEO, Harish Bijoor Consults finds that brands will be not be affected much. "It will be a short term loss for sponsors as their money to buy media will be affected, but not their brand equity. If not CSK or RR, they will be endorsing with someone else," adds Bijoor. 
 
A Tainted League? 
 
IPL is seen as the super bowl of India where brands partner with the teams to reach out to their target audience as the event cuts across the socio-economic categories. It is not the first time when the cases of corruption have come up in IPL. In past, players have been banned and teams have always been under scanner affecting IPL's image, so much so that in 2013, there were speculations that title sponsors Pepsi might walk out on the country's most lucrative sporting event. 
 
Now, as controversy strikes IPL back, how is the league going to maintain its equity? 
 
Bijoor finds that the decision will not affect IPL's equity as the tournament has been used to it. "IPL and controversy are no strangers. It all started with <keyword id="3257" type="PERSON" weightage="20" keywordseo="Lalit-Modi">Lalit Modi</keyword>, and has just paused at CSK and RR. The game and the tournament will not be affected," asserts Bijoor. 
 
Uboweja mentions that the decision is a bigger loss for IPL. "If instead some smaller teams would have been suspended, people would not have bothered but now they will again think IPL as tainted as it has completely lost its credibility," adds Uboweja. 
 
For the record, Indian Premier League viewership grew by 20% over the 2014 edition. The reach of the tournament also increased by 2% with first 45 matches having reached 182 million unique viewers this year.

You Searched For "raj kundra case" and got 7 results

Shilpa Shetty and Raj Kundra's money laundering case takes new turn as they challenge the ED's eviction notices

PTI

Bitcoin scam case: ED attaches assets worth over Rs 97 cr of Raj Kundra, Shilpa Shetty

IANS

Seeking closure by re-living prison days: Raj Kundra on debut movie 'UT 69'

IANS

Raj Kundra- The shrewd opportunist, with a never-say-die-attitude

Anushree Singh

Furore after Lodha committee verdict

BI India Bureau

IPL Verdict: CSK, Rajasthan Royals banned for 2 years; Meiyappan, Kundra banned for life

BI India Bureau

IPL Verdict: Do Tainted Franchisees Belittle their Brand Partners and the League?

AdAge

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