Rajasthan Royals ownership detail ?

Rajasthan Royals ownership detail is finally made public after long drama and investigation. Rajasthan Royals has already been under the scanner for allegedly being partly owned by Lalit Modi. Allegations have been flying thick and fast that IPL commissioner Lalit Modi has a stake in IPL team Rajasthan Royals have been prevalent. The company that owns Rajasthan Royals - Jaipur IPL Cricket is 100% owned by 2 foreign companies - Emerging Media and EM Sportings Holdings. And since both are privately owned companies, there is no clarity on who owns these two companies.
Interestingly, the Foreign Investment Promotion Board (FIPB), whose approval is required for foreign investments into India, is yet to approve the investments of Emerging Media and EM Sportings in Rajasthan Royals. UK based businessman Raj Kundra and his wife Bollywood Actress Shilpa Shetty publicly announced last year that they bought a stake in the team. But the shareholding pattern of Jaipur IPL Cricket available with Bloomberg UTV, does not show any shareholders other than Emerging Media and EM Sportings Holdings. Jaipur IPL Pvt Ltd offloaded its shares funds through a bank to EN Sports.
Let's take a look now at who holds how much stake in EN Sports:
Tresco International Ltd - Modi's relative, Chellaram: 44.17%
Blue Water Estate - Shilpa Shetty's husband: 11.74%
Emerging Media: 32.41%