Venky’s, HMRC…The Plot Thickens ?

[JHRover]

Interesting but probably not good news despite how they are trying to spin it.

Quite why they feel the need to suddenly bring in their head of finance to the club suggests something isn't right or they aren't happy with things. Clearly this is linked to the 'geopolitical issues' they have been referring to this summer.

[lraC]

(19) Ch. Sreenivas | LinkedIn

[AllRoverAsia]

I still read the messageboard a lot but don't post much.

I compose a lot but don't publish.

I think that's one of my wiser decisions.

Oh, and Venkys and Swag etc you are fucking cunts.

[RoverDom]

I look forward to the enhanced communication  and better all round running of the club that this appointment will surely bring. 

[martonrover]

54 minutes ago, danger19_80 said:

Venkys finance guy been drafted onto the Board

Will be the guy who repeatedly says "no" to Broughton's requests.

[CheshireRover]

Fingers crossed he's the guy who turns around and says "fuck this" and they sell up on advice from a person they trust.

I can dream.

[47er]

1 hour ago, JHRover said:

Interesting but probably not good news despite how they are trying to spin it.

Quite why they feel the need to suddenly bring in their head of finance to the club suggests something isn't right or they aren't happy with things. Clearly this is linked to the 'geopolitical issues' they have been referring to this summer.

 

18 minutes ago, CheshireRover said:

Fingers crossed he's the guy who turns around and says "fuck this" and they sell up on advice from a person they trust.

I can dream.

There to find new ways of saving money? Seems the most likely knowing this lot.

[RoverDom]

3 minutes ago, 47er said:

 

There to find new ways of saving money? Seems the most likely knowing this lot.

Step 1 - replace Waggott with a cardboard cutout 

[RoversClitheroe]

Interested to hear @glen9mullan view of this new appointment? 

A positive step or just another move of nothing?

[Herbie6590]

My best guess is his remit will be to find out why the UK investment is costing so much & to try & do something about it. 

The answer may be.. "get rid" of course...

[glen9mullan]

31 minutes ago, RoversClitheroe said:

Interested to hear @glen9mullan view of this new appointment? 

A positive step or just another move of nothing?

Possibly an appointment to shadow Cheston, before he exits? Continuity planning?

Or an indication of getting their own man in before possible investment from elsewhere? (A new investor/part owner).

Or it could be a simple case of having a mother ship Venkys employee as a listed Director to give a comfort blanket to those currently in situ, given under UK law, the Directors carry the can.

The other names Gupta etc, do they actually work for Venkys the business? I'm not sure they do.

Another salary we could do without tbh unless someone is going to exit?

Will it be full time, or additional duties to his existing role?

 

Certainly some questions to pose as anything more than a paper exercise is certainly not a vote "in confidence" to those currently there, and a question for Waggott, when I see him

 

Edited September 12, 2023 by glen9mullan

[cesus]

After a summer in which its safe to say any additional spending has very much been limited. It would be hard to think this chap has been sent in as their trusted finance chap, to find ways of getting more money into the club.

As others have said, the hope is that his professional opinion is cut losses and sell. If they do that he will be my favourite ever Venkys appointment.

[Oldgregg86]

I’m not the brightest when it comes to all of this side of the club but enjoy reading other peoples input but an Indian man,  at a guess , would indicate limited or no football knowledge (as we no football is very different to any other kind of business)  and the surname rao is never a good sign with anything rovers related so from an uneducated stand point I’m going to go with a gut feeling of “oh shit”

[tomphil]

So he's going to work from India so not exactly hands on.

We already have a comms director for between here and India, we already have a Venkys finance director based in India so how many do you need ?

My guess is this is nothing more than window dressing to appease authorities.

Nothing will change except the new lesser budget will continue to be tightened.

[joey_big_nose]

6 minutes ago, tomphil said:

So he's going to work from India so not exactly hands on.

We already have a comms director for between here and India, we already have a Venkys finance director based in India so how many do you need ?

My guess is this is nothing more than window dressing to appease authorities.

Nothing will change except the new lesser budget will continue to be tightened.

We've had years of essentially very little happening at all, and a lot of recent changes - budget cut, the seizure of Venkys propoerty and new director joining. I reckon something significant is going on.

For me I am happy to see it. I would prefer either more engagement with the club by Venkys or a decision by them to sell the club over the continuing status quo of absentee landlordism.

[sharpysharps86]

Can't help but feel cynical about this. Don't believe for one second that it'll result in better communication...why would it? He's a financial guy not a comms guy. That's just a throwaway line in a statement to make fans think positively about the appointment.

Can't believe some people on Twitter are still so deluded over Venkys, thinking they're doing 'everything they can'. Look at where we were when they arrived and look at were we are now. The debate should end there. Yes they were badly advised initially, but ultimately they have been bad for this football club.

[Silas]

Feels like a head honcho from my investigations.

https://mycorporateinfo.com/director/mandava-sreenivasa-rao-1746955

Director of 1987 formed company Srivenk Investments and Finance Private Limited which has 3 directors:

 ANURADHA JITENDRA DESAI, JITENDRA MORESHWAR DESAI, MANDAVA SREENIVASA RAO

Guessing you don't end up in that select group unless you're someone pretty important. 

He wasn't appointed till 2016, but you don't generally put someone on a 30 Yr old company lightly. 

[RoverDom]

*DELETE*

I misread! 

Edited September 12, 2023 by RoverDom

[tomphil]

24 minutes ago, joey_big_nose said:

We've had years of essentially very little happening at all, and a lot of recent changes - budget cut, the seizure of Venkys propoerty and new director joining. I reckon something significant is going on.

For me I am happy to see it. I would prefer either more engagement with the club by Venkys or a decision by them to sell the club over the continuing status quo of absentee landlordism.

Nowt significantly good ever happens regardless of background noise.

Several years ago post relegation we had a full audit, the significant control names on companies house were altered from all 4 to the 2 brothers. And back in India quite a few of their offices were being raided by the authorities due to abnormal amounts of cash transactions. Then it all went quiet and we were left to drift again with budgets signed off but no spending money.

Agree there is a feeling of something brewing but it'll blow over, next big event will be another relegation before anything else.

[tomphil]

26 minutes ago, Silas said:

Feels like a head honcho from my investigations.

https://mycorporateinfo.com/director/mandava-sreenivasa-rao-1746955

Director of 1987 formed company Srivenk Investments and Finance Private Limited which has 3 directors:

 ANURADHA JITENDRA DESAI, JITENDRA MORESHWAR DESAI, MANDAVA SREENIVASA RAO

Guessing you don't end up in that select group unless you're someone pretty important. 

He wasn't appointed till 2016, but you don't generally put someone on a 30 Yr old company lightly. 

Property development ?

Hmmm...

[miqaayil]

This appointment can be for 2 things only ....

 

1) Expansion ( yea right)

2) Liquidation , Stripping and/or Selling (we fuked)

 

You don't put a financial butcher for better communication between home office and offshore company  

[DavidMailsTightPerm]

1 minute ago, miqaayil said:

This appointment can be for 2 things only ....

 

1) Expansion ( yea right)

2) Liquidation , Stripping and/or Selling (we fuked)

 

You don't put a financial butcher for better communication between home office and offshore company  

There is a 3rd option - to appease the Indian government. Though either of your options could be the eventual outcome even if brought in for the 3rd option.

[Leonard Venkhater]

1 hour ago, sharpysharps86 said:

Can't help but feel cynical about this. Don't believe for one second that it'll result in better communication...why would it? He's a financial guy not a comms guy. That's just a throwaway line in a statement to make fans think positively about the appointment.

Can't believe some people on Twitter are still so deluded over Venkys, thinking they're doing 'everything they can'. Look at where we were when they arrived and look at were we are now. The debate should end there. Yes they were badly advised initially, but ultimately they have been bad for this football club.

Yep. Better communication, my arse!

And as for the shite, uncritical Lancs Telegraph report, what an embarrassment!

[SIMON GARNERS 194]

3 hours ago, lraC said:

(19) Ch. Sreenivas | LinkedIn

Well fook me!...is the new boy suddenly going to tell the confused Raos their baby is not very well...🤔

[1864roverite]

I am pretty unsure as why he has been employed NOW! Furthermore I am unsure as to what he can bring to the game working from India.

My question would be what can he improve and how can he improve it?

If anything I see it perhaps weakening SW position and as GM alluded to replacing Cheston.

I keep reading these tax laws and overseas investments - it’s faff all to do with anything else other than Venkys have committed financial crime(s) in India - I cannot see any regulations preventing overseas investments unless they are fraudulent transactional activity. This is what is being investigated !