Venky’s, HMRC…The Plot Thickens ?

[Crimpshrine]

2 minutes ago, glen9mullan said:

You'd need to ask the trust , I'm sure like others they have alerts set up for when documents hit certain databases 

That's not the point. The club are obliged to disclose such things but they didn't 

[Mattyblue]

Nowt to worry about as it was only a threatened winding up order… oh but then an Indian court case, then a swinging budget cut, then a closed Blackburn End, then loaning out two senior players to ease cash flow, then another Indian court case.

Edited January 14 by Mattyblue

[Herbie6590]

12 minutes ago, glen9mullan said:

Because I quizzed  the muppet last year on it , so it's old news to me.

In business its common , you can get winding up notice for filing accounts late on a dormant company for example , until you come forward and state its not.

They did not get a winding up notice , that's the penalty had they not paid the bill. The club was late with the payment and it was then paid

 

 

 

[Herbie6590]

Just now, Mattyblue said:

Nowt to worry about as it’s only a threatened winding up order… before an Indian court case, before a swinging budget cut, before a closed Blackburn End, before loaning out the captain to reduce the wage bill, before another Indian court case.

Quite…Not paying HMRC on time is rarely good news. It only takes a judge in India to have a bad day & we are in deep brown sticky stuff. 

[glen9mullan]

2 minutes ago, Crimpshrine said:

That's not the point. The club are obliged to disclose such things but they didn't 

I don't know of they did or didn't as their meetings are not minuted.

I can't answer for the Trust but I'm sure one will answer this 

[Mattyblue]

1 minute ago, Herbie6590 said:

Quite…Not paying HMRC on time is rarely good news. It only takes a judge in India to have a bad day & we are in deep brown sticky stuff. 

Indeed, but it’s ok as it happens to sole traders and the like all the time.

[tomphil]

1 hour ago, 47er said:

The Final Countdown eh? Its been heading in the direction for over a decade but this season it seems to be very very close.

Everything we feared when Venkys took over is finally coming to pass.

We've no money, barely a squad and poor home support.

Worst of all we have piss poor owners who can be guaranteed to make the wrong decisions and take the Club down.

Don't forget we are one big fixed asset less now as well.

Which was predicted many times and as iv'e always maintained once they start it is the beginning of the end i don't care how they do it but there is rarely a road back when they start being sold off.

[glen9mullan]

3 minutes ago, Herbie6590 said:

Quite…Not paying HMRC on time is rarely good news. It only takes a judge in India to have a bad day & we are in deep brown sticky stuff. 

Of course its not good news, but it did get paid and we never got issued with a winding up notice.

These are the facts, 

I'm sorry the facts are an unpopular view, I've actually not put an opinion to it, just merely pointed out what was being suggested was factually incorrect.

Plenty meet with club,  yourself included, quiz them in your next discussion and report back 

[simongarnerisgod]

i don`t care if we start at the very bottom again,it`s a pointless existance with venkys

[tomphil]

44 minutes ago, den said:

Sounds to a financial know nothing like me, that Venkys owed c£3.5m pounds to the HMRC and the HMRC threatened to wind the club up if Venkys didn’t pay it. The Indian court agreed to allow that. 
 

No idea what the situation is now. 

Well HMRC would issue it to the club not Venkys directly but if they didn't send the money the club would have to liquidate some assets to pay it or be wound up. 

Now lets recap wasn't GB told he had to bring in about 5 mill from sales in summer ?

Now we know why,

[jim mk2]

If this story was in the public domain months ago as claimed unless I missed it why wasn't it more widely reported in the local media? 

I know local football journalism has gone downhill over the years but there's still one or two reporters who know a good story when they see one

Edited January 14 by jim mk2

[speedies gonna get ya.]

I'm surprised that people can be so confident that the courts will allow the next injection of funds at the end of the month. Just because they allowed it last time does not guarantee they will again. Its widely reported that the Raos are unpopular with the Indian government, they could really turn the heat up on them by not allowing more funds to leave the country. What then? 

Edited January 14 by speedies gonna get ya.

[den]

13 minutes ago, glen9mullan said:

Of course its not good news, but it did get paid and we never got issued with a winding up notice.

These are the facts, 

I'm sorry the facts are an unpopular view, I've actually not put an opinion to it, just merely pointed out what was being suggested was factually incorrect.

Plenty meet with club,  yourself included, quiz them in your next discussion and report back 

I think the difference here is not just that the club was late with payments, but the fact that because of changes to Indian Law the club could very well have gone into administration without a successful legal appeal in India. That must have been very much in the balance for some time. It wasn’t just a routine thing that happens all of the time Glen.

A few more detailed questions could rightly be asked of Waggott regarding the current and future situation.

Edited January 14 by den

[glen9mullan]

4 minutes ago, jim mk2 said:

If this story was in the public domain months ago as claimed unless I missed it why wasn't it more widely reported in the local media? 

I know local football journalism has gone downhill over the years but there's still one or two reporters who know a good story when they see one

Jim I reported, this on here last year june/July can't remember exactly when.

I was lambasted by certain posters, certain ITKs that appeared. 

I told everyone there was major cash flow issue , bills couldn't be paid including tax man and unless they got funds rapid then the club could cease..

Waggott did an interview stating no cash flow issue and the same posters took another swipe,,and continued to claim all these players were arriving

I'm sure there is posters who will remember this and I think it was in summer transfer thread.

I went against the grain throughout the summer,  and have been proven right on all accounts 

[glen9mullan]

5 minutes ago, speedies gonna get ya. said:

I'm surprised that people can be so confident that the courts will allow the next injection of funds at the end of the month. Just because they allowed it last time does not guarantee they will again. Its widely reported that the Raos are unpopular with the Indian government, they could really turn the heat up on them by not allowing more funds to leave the country. What then? 

The club is confident. I'm not confident this ends well

[wilsdenrover]

3 minutes ago, den said:

I think the difference here is not just that the club was late with payments, but the fact that because of changes to Indian Law the club could very well have gone into administration without a successful legal appeal in India. That must have been very much in the balance for some time. It wasn’t just a routine thing that happens all of the time Glen.

A few more detailed questions could rightly be asked of Waggott regarding the current and future situation.

I don’t think the law changed, I think the Indian authorities just realised Venkys had been breaking it.

[glen9mullan]

3 minutes ago, den said:

I think the difference here is not just that the club was late with payments, but the fact that because of changes to Indian Law the club could very well have gone into administration without a successful legal appeal in India. That must have been very much in the balance for some time. It wasn’t just a routine thing that happens all of the time Glen.

A few more detailed questions could rightly be asked of Waggott regarding the current and future situation.

I minuted these last time, and he was probed.

He said beyond short term he genuinely didn't know 

[wilsdenrover]

2 minutes ago, glen9mullan said:

The club is confident. I'm not confident this ends well

If it doesn’t end well does that mean no more Venkys?

[glen9mullan]

1 minute ago, wilsdenrover said:

If it doesn’t end well does that mean no more Venkys?

Let's hope so. Because that's a happy ending ,

Sadly. This strangulation is likely to set In further first imho

Edited January 14 by glen9mullan

[jim mk2]

7 minutes ago, glen9mullan said:

Jim I reported, this on here last year june/July can't remember exactly when.

I was lambasted by certain posters, certain ITKs that appeared. 

I told everyone there was major cash flow issue , bills couldn't be paid including tax man and unless they got funds rapid then the club could cease..

Waggott did an interview stating no cash flow issue and the same posters took another swipe,,and continued to claim all these players were arriving

I'm sure there is posters who will remember this and I think it was in summer transfer thread.

I went against the grain throughout the summer,  and have been proven right on all accounts 

 

Fair enough.... it's odd why it's resurfaced tonight and quite alot of regulars didn't know about it

[Mattyblue]

A few talked about serious cash flow issues early summer, probably was Glen, Andy was another. Maybe Booth too.

But a winding up order has not been mentioned anywhere until tonight (if it had we’d have been on O2G, K-Hod and the like to raise it in the FF for a start)- ergo why this thread (and Twitter) has got rather busy.

Edited January 14 by Mattyblue

[wilsdenrover]

1 minute ago, glen9mullan said:

Let's hope so. Because that's a happy ending ,

Sadly. This strangulation is likely to set In further first imho

Are you hoping the judge says no in a couple of weeks?

[glen9mullan]

4 minutes ago, Mattyblue said:

A few talked about serious cash flow issues early summer, probably was Glen, Andy was another. Maybe Booth too.

But a winding up order has not been mentioned anywhere until tonight - ergo why this thread (and Twitter) has got rather busy.

The direct quote below from, court documents.

It clearly states the penalty if HMRC are not paid.

This is consistent with what i reported in the summer , and also the line of questioning I took up with Waggott last year .

He stated this had been paid and the club had not defaulted since

.

Edited January 14 by glen9mullan

[Mercer]

6 minutes ago, jim mk2 said:

If this story was in the public domain months ago as claimed unless I missed it why wasn't it more widely reported in the local media? 

I know local football journalism has gone downhill over the years but there's still one or two reporters who know a good story when they see one

IMO, it stinks.

Either our local media are asleep at the wheel, which wouldn't be a surprise, or they have been asked not to report on this issue for obvious reasons.  Also, surprised at Glen's comments tonight as he would usually be banging the drum on an issue like this - I cannot recall a single posting on this MB on this issue since April last year.

Year end accounts (to 30 June 2023) for The Blackburn Rovers Football and Athletic Limited are due to be filed by 31 March 2024 - think the Auditors' Report, in particular their conclusions to going concern, will make fascinating reading given this issue from April 2023 which has now come to light and all the other ongoing stuff with the Indian courts / authorities.

[Mattyblue]

5 minutes ago, glen9mullan said:

 

I know, as I was saying that’s what was posted tonight to get the thread moving. News of winding up orders, be they threatened or otherwise have not surfaced until about an hour ago.

Think the reaction in this thread makes that clear.

Edited January 14 by Mattyblue