I know you're getting very excited about the possibility the Indian Court will throw the book at Venky's but if anything the investigation against them seems to be tapering off not gaining teeth. The efforts of the ED to prevent funds being transferred have been over-ruled twice and the bond has been reduced from 100% to 50%. Not much to suggest anything other than the current state of affairs and after that their ownership dragging on fairly interminably.

I think this is stage 2. 18 months ago we were offering contracts. They were to players we knew would leave or deals that were representative of their true market value, but we were at least holding talks and putting a contract on the table. I believe Broughton on that front. Now we are openly avoiding negotiations. In Travis and Tronstad we have two players who have publicly stated that they would like to stay and that they've yet to hear anything. That's insane. Does their willingness to stay guarantee a deal? No. But it does mean that talks should have been held.

Fantastic. Such quality.

I have attached part of an article from an Indian publication, as that indicates, that they did not declare the real reason for the equity infusion into Venkys of London. If it’s 3 x the total amount, it’s game over, surely.

Probably! There’s a limit for how long you have to lodge an appeal but I don’t think there was one for it being heard (I’ve opened a bottle of wine since reading it 😁😁). I don’t know the answer re the blocker, sorry.

It would but I think it would only cover ‘dodgy’ funds. Lets hope they’ve found plenty.

Cheers. I assume an appeal process would be at absolute piss taking levels of time, so this would likely drag on for years? If they appeal it, would that still keep the blocker in place for funding the club? Or would that be removed regardless?

Funds transferred to buy the property are around £7m but what if it’s all funds transferred since 2011. Now that would be fun.

There’s a treaty between the UK and India which covers this. Still needs a UK court order but the UK judge would consider the said treaty in coming to their decision.

Up to 3x just relates to the funds transferred. Seizing the property (or sale proceeds) is on top of this. I assume the judge would have to justify adding the latter for there to be any chance of the court in England issuing the necessary order.

This thread is truly depressing. I've never known such disillusionment so early in a transfer window. Can't see any hope for optimism at all. Think Brittain and Travis already out of the door with Tronstad and Hyam scampering after them. Will be staggered if we avoid relegation this season.

there must have been someone going round every ground in the country that summer,there are loads of these on the net,from parkhead to plainmoor (torquay),fantastic imo

Brings back memories. Particularly nice to see the Darwen End roof before it's 'refurbishment' in 1982, courtesy of the six-fingered roofers.

The original purchase of the house was around £7 million from memory.

very apt for our upcoming belgain "superstar"😁

Just to clarify on this. Does the 3x penalty means the amount they transferred, plus the value of the property? That would equate to £28m which despite their wealth, is surely a kick in the teeth.

It looks to me like they have a low wage cap for home grown players that doesn't apply to buys, freebies and Prem loans. No wonder they get fed up and decide running their contract down is favourable to a small rise or a 2/3 yr contract with years option on the same money.

That blows a hole in some interpretations, as some have said, with it being a transaction in the UK the Indian government can’t get involved.

There’s an appeals process (either party can instigate). The appeal can also be appealed (again by either party) I think (and hope!!) that’s as far as things can go.

Assuming they give them, say x3 financial penalty (or any other punishment), is that the end of the court case completely?

Thanks, my most recent post reveals why whether it’s sold or not doesn’t matter (I should have read the law more carefully before asking the question!!)

Further little update… On top of the up to 3 x financial penalty: The Adjudicating Authority can also impose that any property related to the contravention be confiscated to the Indian Government. So if they’ve still got Alexander House this could be seized, and if they’ve sold it the proceeds of the sale could be seized. This would obviously require an English Court to issue an order to this effect. Personally I hope the Authority squeeze until the pips squeak.

No worries. I just checked on Twitter and Rory mentions Alexander house going on the market in April 2024. Not sure if it’s sold though.

No idea sorry. I’ve read the relevant law and it says the convening of the Adjudicating Authority will be announced in the Official Gazette. I’ve found the website for this but it doesn’t seem possible to search by ‘the accused’. I was prepared to read through the last few weeks to see if I could find Venkys but when I click on a file nothing happens.