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For a simpleton like myself, is this the 12m guarantee reimbursed and 12m released to us. Or is it all future spend too? Edit:: It's 2025 and I have the literal worlds knowledge in my pocket. Chat gpt summary below ### 🔹 Currency Conversion (approx.) The Court order mentions liabilities and securities in Indian Rupees (₹). Assuming **₹1 = £0.0095 (approx. rate in Sept 2025)**: * **Liability under complaint**: ₹92.6 crores = **£8.8 million** * **Securities already furnished**: ₹314 crores = **£29.8 million** --- ### 🔹 What Has Happened So Far 1. **Earlier Permission (May 2025):** * Venkateshwara Hatcheries (VHPL) was earlier allowed to remit **£4.85 million** to its UK subsidiary (*Venky’s London Ltd*) but only after providing a **50% bank guarantee** (i.e., \~£2.4 million). 2. **Now (Sept 2025 Order):** * VHPL requested permission to remit a much larger amount — **£12.6 million** — to its UK subsidiary. * The government (Enforcement Directorate) objected, saying a case is under adjudication (complaint filed). * However, the Court noted that VHPL has already provided securities worth **£29.8 million**, which is far more than its potential liability of **£8.8 million**. * Therefore, the Court **allowed the remittance of £12.6 million WITHOUT requiring any bank guarantee**. --- ### 🔹 In Simple Layman’s Terms * VHPL wants to send money to its UK subsidiary to meet financial obligations. * Normally, the government might ask for a bank guarantee before allowing big remittances (to safeguard in case of violations). * But here, VHPL has already deposited securities with the Enforcement Directorate worth **over 3x its maximum liability**. * Because of this, the Court said **“you don’t need to give any extra bank guarantee — go ahead and send the money (£12.6m)”**. --- ### 🔹 What May Happen Next 1. **Immediate:** * VHPL can now legally remit **£12.6 million** to Venky’s London Ltd without providing a bank guarantee. 2. **Ongoing Case:** * The **complaint filed by the ED is still under adjudication**. The Adjudicating Authority will decide if VHPL actually violated any law (like FEMA). * If VHPL is found liable, the already furnished securities (worth £29.8m) can cover that liability (which is at most £8.8m). 3. **Future Orders:** * This permission is **interim** — meaning the Court may issue further directions in the main petition depending on how the adjudication proceeds. --- ✅ **Bottom Line for VHPL:** * You’ve got the green light to send the £12.6m to your UK subsidiary without tying up extra funds in guarantees. * But, the bigger case about whether any FEMA violations happened is still open, and final liability will be decided later. * Since securities already exceed the possible liability, you’re in a relatively safe position financially.

I wonder how much this case has already cost them in legal fees...

Rude boi and friend ain't having no woman telling em what's what !

Sounds like bad news to me. They can now go back to plodding along, sending over the bare minimum in funding whenever required but taking no other interest in he club whatsoever. Venky's will see it as a problem solved but Pasha will continue to cut costs - that's his job. They will expect us all to be truly grateful and, sadly, a large proportion of the fan base will be.

Anyone able to bullet point this for me while I make tea 😃😊

If the fine is 7 mill the 12 mill to Rovers will suddenly become 5 million then it's on to the January sales.....

Just for clarity, this is the most it could be and, as the adjudication is yet to be made, there may be no fine at all.

Heard it was a woman whom would probably have been a very popular appointment but the RG neurotoxins maywell have killed the notion.

Carter, Pickering, Yuki if they all have a good first half of the season. Cantwell also.

There is no certainty the money held under guarantee will come to Rovers. I fear it will be needed to dig us out of relegation doodoo whereas when it was being deposited with the Courts it could have been used to get us into the Premier League. The 7.7m fine could have been far worse. I would imagine there was enormous relief in the Pune compound. Still remains ridiculous stupidity of people so wealthy getting themselves into such a stew back in 2010 .... Which includes buying the Rovers

Only 10 players I would be confident of being good enough to keep us in the Championship

Glad to see they registered Pears, hopefully we will use him as 2nd choice while we still pay him, even if they plan is to offload in January.

Linked to this maybe?? https://www.scottishfa.co.uk/news/young-players-given-greater-flexibility-to-move-during-key-development-stage-as-cooperation-system-launches-in-scotland/

Others have made the same point many times previously but (when allowed) it's always the same sort of amount despite numerous cost savings over the years isn't it?

It looks like the differences are mainly limited to SPL Clubs loaning 16-21 year olds to other Scottish "Partner" Clubs. (Whatever they are) I did also read something online saying Scottish Clubs could also loan players from England but I suspect that's several years out of date.

They sent £15 million in March ‘24 (without going to court).

So looks like there is £12million winging its way to rovers asap? Biggest chunk of money they have sent since the one end of 2023?

Grim reading. Only 23 players including a keeper completely out of favour and various sick notes.

Who's left to sell? Pears/ Tronstad?

Well at least there shouldn't be any pressing need to sell anyone else in Jan...... 🤔

Squad list announced: https://www.rovers.co.uk/news/2025/september/08/rovers-submit-2025-26-squad-list/

How’s this one sound?: One of the remaining conditions to them remitting money is the club’s auditor must issue an end use certificate within three working days so… Current auditor binned off towards end of December, new one not appointed until early February.

I agree. Incredibly convenient. And yet.....on the face of it the timing wasn't actually the owners fault unless they can influence the Court listing process. Wonder what the excuse will be for not spending in January? Should we start a sweepstake?

As it doesn’t happen very often I would like to play the I was right card 😁😁