It could be the biggest blow for Rajasthan Royals co-owner Raj Kundra as the Royals management on Friday sought to distance from him.

The franchise has made it clear that if he is found guilty of betting, he will be suspended and will forfeit his shares in the team.

Reacting to reports over Kundra's involvement in betting, the Rajasthan Royals said that he would also forfeit his shares in the franchise if he has breached any regulations.

"As a franchise, we have always been clear that the same rules apply to players, management or owners. As such, our actions will be consistent as in the case of the spot fixing allegations with respect to our players," Rajasthan Royals Chairman Ranjit Barthakur and CEO Raghu Iyer said in a statement.

"Mr. Raj Kundra is a minority (11.7%) shareholder, and he has no involvement in the running of the franchise. We believe that Mr. Raj Kundra is a law abiding citizen and would not act contrary to law.

(inputs from PTI)