The Lodha panel, in a landmark decision yesterday, suspended Chennai Super Kings (CSK) and Rajasthan Royals from the Indian Premier League (IPL) for two years in the 2013 spot fixing and betting scandal.
"Today is a very depressing and sad day for me as my integrity has been questioned and my support in this investigation seems to have backfired," Kundra said in a statement.
Former CSK team principal Gurunath Meiyappan, who is the son-in-law of ICC Chairman N Srinivasan, and Kundra, both of whom were earlier found guilty of betting, were suspended for life from any cricketing activity undertaken by the BCCI.
"I have always assisted and helped the Mudgal committee from day one till now. It's disheartening that despite there being no evidence whatsoever against me, I was still deemed to be guilty. I have not received till date a copy of their final report in which sweeping conclusions were recorded against me."
"Even the fact that neither the Delhi police nor Rajasthan police found any actionable case against me (for the obvious reasons that there was no evidence or material against me) has been used to make insinuations regarding my guilt for an act I never did.
"I also find it very unfair that the full team, the other owners, the management team, the players and the fans of Rajasthan Royals have been so harshly treated due to the alleged actions of one. However, I am just a minority stakeholder of 11.7%," he concluded.