[Archived] 40 Venky's Premises raided by Indian Tax Officials

[Dunnfc]

Just now, PAFELL said:

Various bodies over here would have heard about the taxman raids in India - having heard that is it not possible people here have gone into Rovers to recoup what they are owed - or is accountants going into Ewood a part of what is going on in India.

Or could somebody be doing due diligence about the possibility of buying the club - because Venkys are being forced to sell. The fact it is accountants no longer used by the club or venkys, surely means others have sent them in.

The bank. Unconnected with tax case as they rocked up last week before Friday's big news.

itll be the bank valuing its assets so they can stick a charge on it to beat the parri passu football creditors rule and therefore claim as much back as possible.

[Manchester Blue]

2 minutes ago, arbitro said:

I read an article by Mowbray where he kind of intimated that all the out of contract players will not be offered a new deal. He said specifically that we need to keep all our contracted players which I read as there will be no new deals offered.

I take your point though that some of them could well be in limbo through a lack of leadership at Ewood.

I'd expect the majority of the out of contract players to simply be released, and it wouldn't be an issue, but if we don't make a contract offer to someone like Mahoney, we wouldn't be entitled to any compensation for him, so that could be an issue, unless of course the one already on the table counts for that purpose.

[Dunnfc]

Just now, RoversClitheroe said:

I feel like Ian knew this was going to happen this summer. 

I don't.  He ruled it out completely with Nixon. I think by end of next week will be in administration.

If they rocked up last Monday its been pre planned all along. I mean finding the cost of a relagation , as part of the cash flow forecasts Cheston would surely have planned a best worst most likely scenario based on that.

you don't send more than two accountants in an Phillip suggests without having it thought out. 

[broadsword]

7 minutes ago, blueboy3333 said:

I'll match your Corrie and raise you 10 minutes of Emmerdale

Nails, truly nails.

[Brian-Potter]

Venkys board meeting to sign off the last years accounts has been set for Monday 22nd May after it was postponed on Friday.

[Neal]

Just now, Manchester Blue said:

I'd expect the majority of the out of contract players to simply be released, and it wouldn't be an issue, but if we don't make a contract offer to someone like Mahoney, we wouldn't be entitled to any compensation for him, so that could be an issue, unless of course the one already on the table counts for that purpose.

 

Think about that.

[Dunnfc]

Mahoney has been offered a deal he turned it down, max compo is 150k given we actually bought him 3 years ago for 30k from accy 

[Brian-Potter]

I managed to have a brief chat with my colleague (referred to in previous posts) about the new date of the board meeting.

In summary his thoughts were:

The visit by I-T started on Friday morning and was expected to take up to 4 days. That would have concluded yesterday which ties in with announcement of the new date made today. The fact that the announcement has been made and the meeting is being held so soon COULD indicate that the raid has not uncovered anything of significance as he would expect if it had the signing off of any accounts would be delayed.

He still maintains his view that until official information is available we are drawing our own conclusions based on rumour not fact.

[chaddyrovers]

1 hour ago, Dunnfc said:

I don't.  He ruled it out completely with Nixon. I think by end of next week will be in administration.

If they rocked up last Monday its been pre planned all along. I mean finding the cost of a relagation , as part of the cash flow forecasts Cheston would surely have planned a best worst most likely scenario based on that.

you don't send more than two accountants in an Phillip suggests without having it thought out. 

I dont see Venkys putting the club into administration. 

Venkys clearly dont trust Cheston or anyone at Ewood Park anymore. 

 

[K-Hod]

I suspect like everyone else, I'm just utterly fed up (not usually like me, I'm a positive person by and large) of everything Rovers and just want this whole situation to come to an end. Hopefully this is the start of this happening. Karma would be them losing everything and ending up destitute, the same goes for JA and his cronies- the lamb shanker.

If that means Venky's suffer as well, that's a bonus, we've suffered more than enough over the last seven years, contemptible, arrogant, clueless, deluded @#/?.

I suspect that the FA in their infinite wisdom will do the standard and deduct us points and then apply a monetary fine to a club in loads of debt. They're useless as well.

If any of the above happens, it will benefit us in the long term and we can look to rebuild. At least then there will be hope. We probably won't even have Hope Akpan at the start of the season, never mind anything tangible.

Venky's Out.

P.S.- that rant felt good, but not as good as it will when Venky's ultimately do Foxtrot Oscar.

 

[Dunnfc]

Just now, chaddyrovers said:

I dont see Venkys putting the club into administration. 

Venkys clearly dont trust Cheston or anyone at Ewood Park anymore. 

 

Biggest thing wage bill is ran out of India and paid from over there so it's at there fingertips to review whilst babu the Venkys tax specialist accountant is at Ewood now and then so it's allot more than viewing the cost of relegation 

[PAFELL]

Just now, Dunnfc said:

Biggest thing wage bill is ran out of India and paid from over there so it's at there fingertips to review whilst babu the Venkys tax specialist accountant is at Ewood now and then so it's allot more than viewing the cost of relegation 

Could they be planning a sale of the club?

[gumboots]

We live in hope. Welcome back btw. Not seen you around much recently

 

[chaddyrovers]

13 hours ago, philipl said:

Nixon said so

... and this time he is right

And no this is not an audit.

Could this been sorting out all paperwork in order of a possible sale of the club? Or putting the club up for sale?

 

[AAK]

Just out of interest, not saying anyone is right or wrong, how do we know these accountants have been brought in?

[PAFELL]

Just now, gumboots said:

We live in hope. Welcome back btw. Not seen you around much recently

 

Thanks - work commitments here and in Belgium.

[tomphil]

By weekend there'll be a statement to drive fear into the hearts of most Rovers fans ' The owners remain committed to returning the club to the Premier league '

I've an awful feeling they wriggle out of everything.

[Clitherover]

Just now, tomphil said:

By weekend there'll be a statement to drive fear into the hearts of most Rovers fans ' The owners remain committed to returning the club to the Premier league '

I've an awful feeling they wriggle out of everything.

It's inevitable isn't it.

[47er]

If they were to say"We are as committed to returning the Club to the Premiership as we have ever been" I,for one, would believe them.

[Mike Graham]

2 hours ago, Brian-Potter said:

I managed to have a brief chat with my colleague (referred to in previous posts) about the new date of the board meeting.

In summary his thoughts were:

The visit by I-T started on Friday morning and was expected to take up to 4 days. That would have concluded yesterday which ties in with announcement of the new date made today. The fact that the announcement has been made and the meeting is being held so soon COULD indicate that the raid has not uncovered anything of significance as he would expect if it had the signing off of any accounts would be delayed.

He still maintains his view that until official information is available we are drawing our own conclusions based on rumour not fact.

We are all guessing Brian.

We are all hoping even more.

[perthblue02]

20 minutes ago, tomphil said:

By weekend there'll be a statement to drive fear into the hearts of most Rovers fans ' The owners remain committed to returning the club to the Premier league '

I've an awful feeling they wriggle out of everything.

PAY OFF their way

[broadsword]

They need to be committed. Buncha morphadites.

[Mike Graham]

Just now, perthblue02 said:

PAY OFF their way

The accountants have priced up the old Ewood Board table as £150 and the Premier League replica trophy at £55.

All the proceeds will go into the Venkys tax repayment fund.

An ITK told me so it must be true.

[ruggles1995]

this has probably been posted but I thought I would share this if people have yet to read it - http://punemirror.indiatimes.com/pune/civic/i-t-sleuths-search-40-premises-of-venkys/articleshow/58650075.cms

 

It says around 5 days investigation. I would imagine by Friday we should of heard some kind of update?...

[Mike Graham]

This is an Indian 5 days.....they are like Italian and Greek 5 days.....more like 5 weeks.