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[Archived] Venky's Financial Arrangements

Kamy100

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Kamy100

Kamy100

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Surely good news for us, as its now secured against them, rather than just a sub company which is effectively Rovers only?

Is this not glimmer of hope they plan to make a success of it?

Need to get confirmation that they are secured against Venky's India rather than Venky's London Ltd.

There many many other issues that Venky's need to sort out before we can even start to think positively, until they do that my view will remain that we would be better of if they sold up, but the indications are that they are not planning to do that.

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perthblue02 World Cup

perthblue02

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Surely good news for us, as its now secured against them, rather than just a sub company which is effectively Rovers only?

Is this not glimmer of hope they plan to make a success of it?

I was under the impression Venky's London limited was for Rovers stuff only until about 6 months ago when they "invested" in other things, not sure whose money was used though.

With regards to the debt surely clearing it would man paying it off rather than transferring it to another bank?

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Mercer World Cup

Mercer

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This whole thing could be incredibly complicated now.

I wouldn't have though that Venky's are so naive in their general business dealings as not to ensure that they didn't take a pounding on their assets from any Rovers' issues. Believe me, there are ways and means but the more complicated financing and inter company stuff isn't one for this MB !

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yoda

yoda

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This whole thing could be incredibly complicated now.

I wouldn't have though that Venky's are so naive in their general business dealings as not to ensure that they didn't take a pounding on their assets from any Rovers' issues. Believe me, there are ways and means but the more complicated financing and inter company stuff isn't one for this MB !

why not?

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Hughesy World Cup

Hughesy

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Need to get confirmation that they are secured against Venky's India rather than Venky's London Ltd.

There many many other issues that Venky's need to sort out before we can even start to think positively, until they do that my view will remain that we would be better of if they sold up, but the indications are that they are not planning to do that.

They wont sell....that seems pretty clear for all to see. How does the banking arrangement in India differ?

Does it make it easier to move money into and out of the account?

They've just relegated us Hughesy!

Preparing the ground for a sale is the only glimmer of hope we have.

Sorry what has this got to do with them changing banks, to India?

And how does selling the ground help?? :blink:

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Paul World Cup

Paul

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This whole thing could be incredibly complicated now.

I wouldn't have though that Venky's are so naive in their general business dealings as not to ensure that they didn't take a pounding on their assets from any Rovers' issues. Believe me, there are ways and means but the more complicated financing and inter company stuff isn't one for this MB !

Why would that be, I'm sure we are capable of understanding them when clearly presented and argued? Just as many have enjoyed and been enlightened by Philip's annual analysis of the club accounts.

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Mattyblue World Cup

Mattyblue

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Sorry what has this got to do with them changing banks, to India?

And how does selling the ground help?? :blink:

'a glimmer of hope' you said, in a season in which they've sold our best players, kept Steve Kean and got us rleegated, them switching their banking to India doesn't give me a 'glimmer of hope that they want to make a success of it'.

'preparing the ground', it's a figure of speech Hughesy.

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Hughesy World Cup

Hughesy

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"Reports in the national press are allegeding that Venky’s have cleared their reported £20 million debt"

'a glimmer of hope' you said, in a season in which they've sold our best players, kept Steve Kean and got us rleegated, them switching their banking to India doesn't give me a 'glimmer of hope that they want to make a success of it'.

'preparing the ground', it's a figure of speech Hughesy.

Thats what a 'glimmer' is.....a small hope. Another 'glimmer of hope' would be firing Steve Kean.....

All the other stuff, your just stating the obvious, EVERYONE knows all that - but surely clearing the debt (which is all we know at the minute) is a good move....or not?????

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BRFCfor83 Championship

BRFCfor83

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I hate all this smoke and mirrors crap. Will someone just tell me what's happening to my club!!! Venkys say there not selling, there not investing, we are almost relegated, the finances are well n trutly out of the FD's hands. VENKYS, WHAT IS THE PLAN?

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47er

47er

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Surely good news for us, as its now secured against them, rather than just a sub company which is effectively Rovers only?

Is this not glimmer of hope they plan to make a success of it?

:rolleyes:

VENKYS, WHAT IS THE PLAN?

Paul knows--I'm waiting for him to tell me on another thread.

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rovers11 Champions League

rovers11

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I wouldn't read too much into the story. Barclays don't trust Venky's hence they played hard ball with them. Our bank loan was due to be paid off in June but has obviously been paid off early with the samba money so that Venky's can move banks. No other UK bank would touch Venky's so they have moved to an Indian bank.

This was always going to happen so don't read too much into it.

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philipl World Cup

philipl

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As of 5 minutes ago, the following facts were definitively true:

- the Barclays mortgages over the club's income and assets remain in place

- no new mortgages favouring the State Bank of India are registered against the club

- the Sky payment for the second half of the season is not due until the end of this month

- right now is the time of greatest cash stress on all clubs as the April wages have gone out and income is still awaited. Even if 5,000 Early Bird ST deals were sold, that only nets 25% of one month's wage bill.

- interest rates in India are 7.5% higher than in the UK

It almost certainly is the case that Venky's wish to rebank Rovers. To report the rebanking as factually having happened is yet another lie.

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