ABBEY Posted March 14 Share Posted March 14 1 hour ago, robbiethemole said: skyblue here, he screwed Charlton over and did the same for us, the man is a fraud and shouldn't be allowed near a football club I hope you can get rid of him asap. This twat needs porridge 2 Quote Link to comment Share on other sites More sharing options...
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AllRoverAsia Posted March 14 Share Posted March 14 35 minutes ago, tomphil said: I've been saying for years they funnel a bit of money out of the parent company every year using Rovers. All i got was don't be stupid why would they rob themselves ! The lack of understanding of how these things can work via loopholes is frustrating to those who know it can and it can all be above board when facilitated by expert accountants. Morally and tax wise it ain't exactly throwing straight dice though. We sing from the same him sheet. They are grifters and stupid too. 2 Quote Link to comment Share on other sites More sharing options...
bluebruce Posted March 14 Share Posted March 14 2 hours ago, miqaayil said: Guys this is not about funds leaving india... their instruments are from SBI , State Bank of INDIA and constant Loss in investment which affects the bank and economy. So the gov is suspecting some kind of funneling which is why they ask to put equivalent amount in pledge before sending out more of SBI monies, which they won't ...i'm not a financial forensics expert but from what i understand this is in nutshell , The gov is worried SBI will write it off as bad debt... and they afraid to open books in UK incase of a sale which they must. If that's true, the irony is that by withholding funding and thereby preventing any effective trading (as players get sold cheaply due to our weak position, we have no chance of ever buying a Szmodics/Armstrong etc again, and inevitably get relegated this or next season, potentially resulting in administration) hugely increases the chances of the SBI having to write it off as a bad debt. Quote Link to comment Share on other sites More sharing options...
47er Posted March 14 Share Posted March 14 (edited) 7 hours ago, BigUts said: Matt Smith on 5Live talking about the potential of buying Rovers (all very tongue-in-cheek sadly) It needs someone like him, famous and popular, to draw attention to what's been happening to Rover over the last 14 years and to possibly attract attention from people with real wealth. Any chance of the Trust or anyone else making contact? I know it sounds far-fetched but if you don't try you never find out. He seems passionate enough about the club. He could be the perfect figure-head if someone could get him involved. Media would be all over him! Edited March 14 by 47er 2 Quote Link to comment Share on other sites More sharing options...
tomphil Posted March 14 Author Share Posted March 14 They wouldn't send their lawyers into court armed with a pile of documents for what was just down as a box ticking exercise and risk the adjournment if they were so concerned about the club going bust. Seems to me they are very relaxed and probably under assurance from Waggot that there'll be enough in the pot and he'll rake some more in in summer and ensure further budget cuts to see us through. Nice wage justifying bonuses earning work there by their CEO ! Where that leaves the team/squad/club i doubt even enters the equation as long as the lights are still on. Quote Link to comment Share on other sites More sharing options...
Upside Down Posted March 14 Share Posted March 14 My reading of things, please correct me if I'm wrong. The law changed in India whereby if you want to send money overseas you need a certificate from the ED. The ED refused to grant that certificate due to the investigation. The court cases have been because of this, the judge saying that money can be sent as long as there is an equivalent bond paid to the ED. The ED are opposed to this but obviously have to abide by the court. Hopefully the outcome is that they are forbidden from sending over money in future. I had a feeling this would be postponed, they get postponed all the time. 1 Quote Link to comment Share on other sites More sharing options...
tomphil Posted March 14 Author Share Posted March 14 Surely once they sent 11 mill 6 months ago or whatever and 11 mill has gone into a govt holding account then once you have proved where those funds have gone in the last 6 months the bond is then released. Quote Link to comment Share on other sites More sharing options...
Upside Down Posted March 14 Share Posted March 14 5 minutes ago, tomphil said: Surely once they sent 11 mill 6 months ago or whatever and 11 mill has gone into a govt holding account then once you have proved where those funds have gone in the last 6 months the bond is then released. They had to give a detailed breakdown of what the funds were spent on. 1.8 million was for agents fees. Quote Link to comment Share on other sites More sharing options...
tomphil Posted March 14 Author Share Posted March 14 43 minutes ago, Upside Down said: They had to give a detailed breakdown of what the funds were spent on. 1.8 million was for agents fees. So once they've provided a breakdown and receipts that the money has all been used as intended they they should get their other 11 million back. Maybe that's where the issues with this latest postponement lie. Quote Link to comment Share on other sites More sharing options...
broadsword Posted March 14 Share Posted March 14 2 hours ago, ABBEY said: This twat needs porridge Needs a shellacking upside the grid from the three bears first Quote Link to comment Share on other sites More sharing options...
broadsword Posted March 14 Share Posted March 14 2 hours ago, Mercer said: Notwithstanding the court's decision/ruling in August, there will probably be enough available money from Wharton's sale, Raya's move to Arsenal (and our cut of that) and the sale of SS, and Carter, Travis etc, if need be, to get Rovers through the next 16 months. Sadly, I think our owners and CEO will be unchanged 12 months down the line from now. IMO, we are a club hopelessly drifting along in a sea of shyte, and, at some point, the contamination will become too severe and that will be the end of Rovers. Maybe that's the game plan, run us into the ground, liquidate the club and bury the paper trail 1 Quote Link to comment Share on other sites More sharing options...
tomphil Posted March 14 Author Share Posted March 14 Some might say they are very slowly tactically withdrawing bit by bit. Quote Link to comment Share on other sites More sharing options...
Penwortham Blue Posted March 15 Share Posted March 15 11 hours ago, Miller11 said: Apologies, I think I may have jumped the gun on the above. Didn’t read Josh’s posts in full. For every pound they have sent so far, they have had to guarantee with equivalent. But they can’t send money without permission. The case that is ongoing is not directly linked to Rovers or VLL, which probably goes a long way to explaining the silence from the club. If anyone at Rovers was even aware of how the case had gone (or hadn’t) before it became public record, I expect they’d have been forbidden from commenting on it. I suppose now we will see what Venky’s appetite to keep funding is, as there will no doubt be ways around it. Without a No Objection Certificate, or a one off exemption, VENKATESHWARA HATCHERIES PRIVATE LIMITED can’t send remittance overseas. The purpose of this hearing wasn’t just to get that agreed, but it would’ve been one desired outcome. I’m speculating here, but I don’t see why they couldn’t get money over from elsewhere, or apply for the certificate directly to the enforcement agency away from the ongoing court proceedings. As I understand it, they could send funds without restriction as long as from the personal pockets of the Mrs Desai and hubby and the two stooges. Quote Link to comment Share on other sites More sharing options...
Upside Down Posted March 15 Share Posted March 15 6 hours ago, tomphil said: So once they've provided a breakdown and receipts that the money has all been used as intended they they should get their other 11 million back. Maybe that's where the issues with this latest postponement lie. They had to provide that breakdown before sending the money. Again £1.8 million was allocated to "agent fees" Quote Link to comment Share on other sites More sharing options...
ABBEY Posted March 15 Share Posted March 15 AH THE DARK LORD WORKS IN MYSTERIOUS WAYS Quote Link to comment Share on other sites More sharing options...
Herbie6590 Posted March 15 Share Posted March 15 7 hours ago, Penwortham Blue said: As I understand it, they could send funds without restriction as long as from the personal pockets of the Mrs Desai and hubby and the two stooges. Not sure about that…🤔 Quote Link to comment Share on other sites More sharing options...
martonrover Posted March 15 Share Posted March 15 Seriously, why don't they at least attempt to sell us? The only innocent explanation is pride, but that really isn't the likely reason. 2 Quote Link to comment Share on other sites More sharing options...
Popular Post lraC Posted March 15 Popular Post Share Posted March 15 6 minutes ago, martonrover said: Seriously, why don't they at least attempt to sell us? The only innocent explanation is pride, but that really isn't the likely reason. More likely to be fraud. 12 Quote Link to comment Share on other sites More sharing options...
tomphil Posted March 15 Author Share Posted March 15 I've never bought the pride line as the primary driving force as to why they carry on owning Rovers although i do get the 'look at us we are so wealthy we can chuck 20 million a year away on a whim' vibe. Even that is out the window now though there is no pride to be had owning a struggling club that has now exposed some dodgy dealings. And whatever happens in court - who'd be surprised if it's pushed back again - the whole 15/20 million a year is gone for good even if they got approval they'd be paying 20% in tax instead of avoiding it. Games up, for them and us. 3 Quote Link to comment Share on other sites More sharing options...
ABBEY Posted March 15 Share Posted March 15 100% not pride...its about keeping the tax and interpol at harms length allegedly 4 Quote Link to comment Share on other sites More sharing options...
tomphil Posted March 15 Author Share Posted March 15 4 hours ago, Upside Down said: They had to provide that breakdown before sending the money. Again £1.8 million was allocated to "agent fees" That's before then there is after i.e the Indian govt will want proof the money was used for what it was allocated for and nothing else. That's the centre of this whole issue. Then surely once that is confirmed as legit and signed off then the 11 million equivalent should be released back to Vs or obviously held if the same amount is allowed to be sent again. It can't be as if they have to keep giving the govt equal amounts as security and they just keep hold of it as has been mentioned. Quote Link to comment Share on other sites More sharing options...
RoverDom Posted March 15 Share Posted March 15 39 minutes ago, tomphil said: That's before then there is after i.e the Indian govt will want proof the money was used for what it was allocated for and nothing else. That's the centre of this whole issue. Then surely once that is confirmed as legit and signed off then the 11 million equivalent should be released back to Vs or obviously held if the same amount is allowed to be sent again. It can't be as if they have to keep giving the govt equal amounts as security and they just keep hold of it as has been mentioned. Admittedly I hadn't given it much thought but I'd thought it was that they put the money in a bond and then it would be released after the investigation had ended but what you said makes me sense. Quote Link to comment Share on other sites More sharing options...
Upside Down Posted March 15 Share Posted March 15 Well it's a bond. I don't know the terms of said bond but it's a bond. Quote Link to comment Share on other sites More sharing options...
joey_big_nose Posted March 15 Share Posted March 15 2 hours ago, tomphil said: I've never bought the pride line as the primary driving force as to why they carry on owning Rovers although i do get the 'look at us we are so wealthy we can chuck 20 million a year away on a whim' vibe. Even that is out the window now though there is no pride to be had owning a struggling club that has now exposed some dodgy dealings. And whatever happens in court - who'd be surprised if it's pushed back again - the whole 15/20 million a year is gone for good even if they got approval they'd be paying 20% in tax instead of avoiding it. Games up, for them and us. Yeah this is it - irrespective of outcome of the court case the basic maths of money and effort to keep the show on the road has changed for them significantly. That's why I think we're in the end game. What was barely sustainable has become definitively unsustainable. It's a matter of time before something significant breaks, its really imperative that plans are put in place now for new owners and the club on a sustainable footing. Who and how that is done I am not really sure (but very willing to pitch in and help) but probably have 6 months to get something credible together. I am sure some interested people must already be on the move somewhere with a plan? 1 Quote Link to comment Share on other sites More sharing options...
Hasta Posted March 15 Share Posted March 15 12 hours ago, tomphil said: Some might say they are very slowly tactically withdrawing bit by bit. Some might say we will find a brighter day. 5 Quote Link to comment Share on other sites More sharing options...
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