Venky’s, HMRC…The Plot Thickens ?

[tomphil]

From the looks of his cv his involvement with VH seems to be on the investment and property side of things.

That could be quite interesting.

Are we going to see the potential return to the push for a smaller once size fits all training facility on a cheap brownfield site in town.  Whilst cashing in on the remaining 2 of the  large 3 leafy countryside Brockhall sites ?

[broadsword]

I'm going to spend the rest of the day on a wishful thinking daydream. And if I get any comments that "oh, it's just an admin change, they'll be here for another seventy thousand years at least, get used to it, they'll be a titty statue to fat Barry soon, it's all for the best" I shall send a crack ninja squad of leprechauns to shit up your nose while you sleep.

If this is the end game for their misbegotten shitshow disastrofuck clown factory confusionfest ownership, then it's going to be party central. It'll be like the ewok rave up at the end of return of the jedi, but with jellies temazepam ketamine amphetamines and those soft chewy Refreshers that you can only seem to get online.

I don't even want to think that this is just business as usual, my poor heart just can't take that. Let's face it, they're up the shit. Otherwise why all the recent drama.

So yeah, here's a pineapple fat baz. Fucking ram it yer bloody wasteman

 

[Guest]

Thought I'd step out of the shadows.

This new guy is a deputy manager, so not necessarily a finance guy. And I can't remember if Cheston has ever been rumoured to be leaving any time soon.

But I'd suspect maybe this Rao is going to take over from Babu and not Mike?

[tomphil]

Isn't Cheston just basically the club accountant ?

So no guy in India finance or otherwise will have the first scooby about day to day accounts of a professional football club several thousand miles away. 

That was always a non starter and Waggot is just basically CEO in name only and just the day to day football club admin guy so he won't be going anywhere yet either.

[wilsdenrover]

1 hour ago, 1864roverite said:

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 ! 

The Indian Law in question forbids overseas investment unless permission is granted.

If permission is granted it comes with conditions attached.

It would appear buying Alexander House was a breach of these conditions.

Edited September 12, 2023 by wilsdenrover

[roverblue]

The last few months and then this appointment, feels like more cost cutting is coming our way....

[wilsdenrover]

36 minutes ago, tomphil said:

Isn't Cheston just basically the club accountant ?

So no guy in India finance or otherwise will have the first scooby about day to day accounts of a professional football club several thousand miles away. 

That was always a non starter and Waggot is just basically CEO in name only and just the day to day football club admin guy so he won't be going anywhere yet either.

From his Linkedin profile:

[speeeeeeedie]

Is anyone else having flashbacks to when Venkys brought in their Brazilian chicken supremo to lick the club into shape?

He didn't last long. 

Although this new bloke looks to be a lot closer to their inner circle. 

[tomphil]

18 minutes ago, wilsdenrover said:

From his Linkedin profile:

That's because he took over for 5 mins in that era before being put back in his lane.

Obviously forgot to alter his profile.....

[den]

Maybe he’s been appointed to oversee the sale of the club.

[tomphil]

Trouble is with that they'll liquidate everything they can first bit by bit so they don't have to put money in to keep it going. 

Come to think of it.....

[1864roverite]

1 hour ago, wilsdenrover said:

The Indian Law in question forbids overseas investment unless permission is granted.

If permission is granted it comes with conditions attached.

It would appear buying Alexander House was a breach of these conditions.

I read it slightly differently - investment worldwide is good for all countries. 
 

The fact that property has been seized suggests a fraud investigation is in full swing. Setting up a business with paperwork suggesting a business of mining and then purchasing a dwelling through it is clearly a fraudulent deal with intention of not paying corporation tax and all that goes with it.

I could be wrong but it does suggest massive wrongdoing on someone’s behalf 

 

[simongarnerisgod]

35 minutes ago, den said:

Maybe he’s been appointed to oversee the sale of the club.

we can dream

[wilsdenrover]

16 minutes ago, 1864roverite said:

I read it slightly differently - investment worldwide is good for all countries. 
 

The fact that property has been seized suggests a fraud investigation is in full swing. Setting up a business with paperwork suggesting a business of mining and then purchasing a dwelling through it is clearly a fraudulent deal with intention of not paying corporation tax and all that goes with it.

I could be wrong but it does suggest massive wrongdoing on someone’s behalf 

 

I agree with you about worldwide investment being a good thing but this Indian law definitely says it is forbidden unless approval is sought (and granted).

I also agree with your second and third paragraphs although I don’t know if this a ‘tax fiddle’ or something else entirely.

As with most (all?) things with the Venky’s, their motivations are as clear as mud.

[wilsdenrover]

46 minutes ago, den said:

Maybe he’s been appointed to oversee the sale of the club.

I hope you’re right but why would that necessitate him becoming a director?

[miqaayil]

3 minutes ago, wilsdenrover said:

I hope you’re right but why would that necessitate him becoming a director?

to liquidate watever possible to recoup money , then sell the skeleton brfc name brand club. In the meantime do whatever necessary so we don't get promoted

[bigbrandjohn]

6 hours ago, martonrover said:

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

Maybe they brought him in to avoid any more Raos😉

[Mashed Potatoes]

5 minutes ago, miqaayil said:

to liquidate watever possible to recoup money , then sell the skeleton brfc name brand club. In the meantime do whatever necessary so we don't get promoted

Given that the additional TV revenues that accrue from being in the Premier League are worth far more than any club assets that could be liquidated why would he want to prevent us being promoted if the objective is to recoup money ?

[simongarnerisgod]

3 minutes ago, Mashed Potatoes said:

Given that the additional TV revenues that accrue from being in the Premier League are worth far more than any club assets that could be liquidated why would he want to prevent us being promoted if the objective is to recoup money ?

because they are venkys,nothing they do connected with rovers makes any sense,never has

[bigbrandjohn]

With all this talk of trouble I went down the road less travelled to find some inspiration. 
I found it in John Cooper Clarke. Some interesting similarities 

 

Edited September 12, 2023 by bigbrandjohn
Spelling

[miqaayil]

1 hour ago, Mashed Potatoes said:

Given that the additional TV revenues that accrue from being in the Premier League are worth far more than any club assets that could be liquidated why would he want to prevent us being promoted if the objective is to recoup money ?

because PL teams accounts are far more scrutinized 

[Andy]

2 minutes ago, miqaayil said:

because PL teams accounts are far more scrutinized 

Based on the time we spent there under the incumbent owners, I'm not too sure about that.

If Venky's wanted to make coin from the club, promotion is by far and away their best option.

[Mashed Potatoes]

12 minutes ago, miqaayil said:

because PL teams accounts are far more scrutinized 

Why buy a PL team in the first place then ?

[tomphil]

15 minutes ago, Mashed Potatoes said:

Why buy a PL team in the first place then ?

To launch Venkys Express and multiple other European based ventures.

[Mashed Potatoes]

2 minutes ago, tomphil said:

To launch Venkys Express and multiple other European based ventures.

But wouldn't they be scrutinised ?