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What does Raj Kundra do: How legitimate are his business ventures and investments?

·4-min read

The morning of 19th July 2021 revealed a shocking piece of news. Well-known business person Raj Kundra, better known as Bollywood star Shilpa Shetty's husband, was arrested by the property cell of the Mumbai Crime Branch for allegedly being the key conspirator in creating and distributing pornographic content through mobile applications and websites.

Businessman Raj Kundra attends the press conference for Indias first celebrity driven 24/7 home shopping channel, in Mumbai on September 2, 2015.   AFP PHOTO        (Photo credit should read STR/AFP via Getty Images)
Businessman Raj Kundra attends the press conference for Indias first celebrity driven 24/7 home shopping channel, in Mumbai on September 2, 2015. AFP PHOTO (Photo credit should read STR/AFP via Getty Images)

After questioning him regarding the busted case, the police claimed they have sufficient evidence against the businessman. 

According to Mumbai Police sources, Raj Kundra had invested around ₹8-10 crores in this porn industry. Raj Kundra and his brother living in Britain together formed a company, named Kenrin. The videos were shot in India and then transferred to the UK via WeTransfer to Kenrin, a UK-based firm.

This isn't the first time that Raj Kundra and his wife Shilpa Shetty have come under the scanner for dubious business involvements. Kundra's name also appeared in an alleged bitcoin case where he was accused of money laundering and fraud. He was also accused of being involved with the Gainbitcoin company which was a part of a ₹2000 crore fraud case. 

Shilpa and Raj Kundra are ex-directors of Satyug Gold Pvt. Ltd, a gold trading company. They were named in an alleged scam concerning this trading company by a non-resident Indian businessman, Sachiin J Joshi, who claimed in a police complaint that he was reportedly lured and then cheated by SGPL's 'Satyug Gold Scheme', launched around 2014. 

Raj Kundra, the former Rajasthan Royals co-owner, was also involved in the infamous Indian Premier League (IPL) betting scandal, for which he was banned for life from cricket activities. However, Kundra in 2018 had filed a petition in Supreme Court after Delhi Police gave him a clean chit for the same.

But his arrest in the porn case opens a new can of worms leading to the belief that there is truth in all previous allegations. While further details are yet to be divulged through investigation, here is a look at all the legitimate businesses of Raj Kundra.

Raj Kundra's Business ventures and investments

Essential Sports and Media

As of 2013, Raj Kundra was associated with Essential Sports and Media, and Iconic Investments, a private fund trading in equity markets. Other ventures included Satyug Gold, Super Fight League, and more recently Bastian Hospitality, a famous restaurant chain in Mumbai.

Indian Premier League

In 2009, Raj and Shilpa invested in the Indian Premier League cricket team Rajasthan Royals using an offshore company based in Mauritius. The legality of the investment was questioned by Government of India. In June 2013, Kundra was questioned by Delhi Police with regard to the 2013 Indian Premier League spot-fixing case, which had involved the arrest of some Rajasthan Royals players. Later, the Delhi police gave a clean chit to Kundra in reply to a right to information (RTI) query. 

In July 2015 a panel appointed by the Supreme Court of India imposed a life ban from cricket-related activity on him. Further, Kundra denied the involvement and appeal to the Supreme Court of India. Umesh Goenka, a business partner of Raj Kundra, claimed in a court that he was forced to name him by the Delhi Police and did so to save himself from physical torture and from being booked under MCOCA Maharashtra Control of Organised Crime Act.

Super Fight League

Kundra and Bollywood star Sanjay Dutt launched India's first professional mixed martial arts fighting league, the Super Fight League, on 16 January 2012.

Best Deal TV

In 2015, Kundra was among the promoters of online and television broadcast platform Best Deal TV, an Indian television home shopping channel capitalising on celebrity endorsements. His co-promoter was Bollywood actor Akshay Kumar.

Viaan Industries

The company was started in 2014 which deals in Entertainment, Gaming, Licensing, Technology & Animation.

Match Indian Poker League

In 2017 Kundra entered into a partnership with the International Federation of Poker, to launch the world's first sports poker league, via his company Viaan Industries Ltd and announced that the winning team will represent India in the Nations Cup.

J L Stream India Pvt

Under the government of India’s Startup India initiative, Raj Kundra, CEO of J L Stream Pvt Ltd, launched India’s first live streaming social media app Jaldi Live Stream app which allows professionals as well as amateurs to showcase their talent by live streaming.

Raj Kundra was awarded Champions of Change Award in 2019, for his work in various facets of Swachh Bharat Mission. The award was conferred by former President of India Pranab Mukherjee at Vigyan Bhavan New Delhi on 20 January 2020.

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Inputs: Wikipedia

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