Karl Stefanovic has returned to his YouTube podcast after three weeks of unexplained absence. 

The ousted Today show host, who is locked in a legal battle with his former business partner, dropped a new episode of The Karl Stefanovic Show on Wednesday with minimal fanfare. 

Stefanovic launched into the video without addressing his break, sitting down for a chat with billionaire Adrian Portelli. 

In the 35-minute interview, the LMCT+ founder, who often goes by the moniker 'Lambo Guy', was drawn on a wide range of topics, which included Portelli's criticism of government policies that have affected his business. 

Portelli said he was 'packing up and moving' and had relocated much of his life and business to Dubai to circumvent issues he is facing in Australia. 

Karl's fans were delighted to see him back behind the wheel of the beleaguered podcast venture, with many sharing their support in the comments section on YouTube. 

'Good to see you back, Karl,' read the top comment, while another person said: 'Where have you been, Karl?'

'Forget the noise and focus on the show. Build your audience, do what you do best and let the lawyers deal with everything else,' wrote one fan. 

Someone else commented: 'Does this mean @thekarlstefanovicshow drought is over?' 

'Didn't believe I would miss this so much! You've really grown on me mate!' said another listener. 

It comes after Karl's podcast business partner launched urgent Supreme Court action to stop the former TV star from forcing her out of the venture they built together.

Keshnee Ibrahim filed an application in the Supreme Court on Monday seeking to prevent Karl from removing her as a director of 123 Podcast Pty Ltd, the parent company of The Karl Stefanovic Show, at a meeting scheduled for Friday.

Keshnee is also asking the court to order Karl to buy out her 45 per cent stake in the business at a reasonable market price.

The legal action marks a dramatic escalation in the breakdown between the pair, who launched The Karl Stefanovic Show podcast earlier this year.

The pair are joint major shareholders in the company, which was registered in February, with each holding an equal 45 per cent.

Anthony Bell, Karl's accountant and business adviser, holds the remaining 10 per cent. 

Sources say Keshnee had repeatedly proposed an independent valuation of the business ahead of a potential buyout, but negotiations stalled about a month ago. 

Karl's wife Jasmine and his former business partner Keshnee are childhood friends - but the relationship has fractured beyond repair.