Game Over For Raj Kundra?

Raj Kundra

Poker in India may be mushrooming, but success has eluded many. One of those who seems to have hit rock bottom in the poker business is Raj Kundra, businessman, and husband of Bollywood actress Shilpa Shetty. The couple’s online poker venture celebritypoker.in has come to a stop with Kundra acknowledging that he has abandoned the idea. The news came to the fore after Shane Warne denied having any involvement with the website.

Kundra has been struggling in business over the past couple of years, beginning with a lifetime ban on cricketing activities by the Lodha Committee, for his role in the match-fixing scandal, with his co-ownership of the Rajasthan Royals. Subsequently, problems have been dogging the former London-based Kundra, who moved to India quite recently with his wife.

Celebritygames.in was released in September 2016 by the husband-wife duo’s company Satyug Gold Pvt Ltd and guaranteed users the chance to play with celebrities such as Shilpa Shetty, Harman Baweja, Shahid Kapoor, Rohan Gavaskar, Raj Kundra, Minisha Lamba and Shane Warne. The Australian legend denied having any association with the franchise.

Presently, the site is inaccessible, though Kundra continues to be stated as its owner. The site was floated by Kundra’s company Viaan Industries, which was originally known as Hindusthan Safety Glass Ltd. after he and Shilpa Shetty acquired it last year.

Moreover, Kundra is facing issues from shareholders of the company, who have questioned the fashion in which it was functioning. The company’s business has changed from glass safety to manufacturing mobiles to trading in domestic appliances to online games. The question being raised is if such quick changes were provided for by the company’s Memorandum of Association (MoA) or are mismanagement by Raj Kundra under company law.

He had earlier launched a real-money stock market-based gaming site called stockrace.in, but curtains were pulled on this venture in a few weeks.

Most recently, the couple’s home shopping channel Best Deal TV suspended its operations after demonetization was implemented in India. Vendors claim that dues amounting to INR 4.5 crores have not been paid. Kundra assured that his company would reimburse the vendors.

It is quite evident that Raj Kundra’s business endeavours are not gaining fruit at the moment.