Venky’s, HMRC…The Plot Thickens ?

[Leonard Venkhater]

12 minutes ago, jim mk2 said:

Take them to Huntingdon. They'll love it

Cromwell's Bridge in Great Mitton was bad enough!

[47er]

47 minutes ago, Leonard Venkhater said:

Careful!...To my Irish in-laws he is a 17th century Hitler!

One of many!

[47er]

4 hours ago, JHRover said:

Not sure many were saying "anyone is better than the Walker trust" although they needed to go

I don't remember many saying that either. Its clear we were stagnating under them, they wouldn't finance Hughes" moderate plans when we were on the up.

So shortsighted when he had us finishing 6th. Supporting him properly would have seen us attracting more buyers and them getting more money.

But they wanted what they could get "now" and didn't care who from.

[JHRover]

51 minutes ago, 47er said:

I don't remember many saying that either. Its clear we were stagnating under them, they wouldn't finance Hughes" moderate plans when we were on the up.

So shortsighted when he had us finishing 6th. Supporting him properly would have seen us attracting more buyers and them getting more money.

But they wanted what they could get "now" and didn't care who from.

At the end of the day they were reluctant disinterested owners who didn't want to be here and hadn't for a number of years before they eventually sold. The fact they entertained Ali Syed and then sold to Venkys tells us all we need to know about the previous owners, their interest in this club and how desperate they were to cash in on it.

So in my book they had to go. There's no place in football for owners, managers, CEOs, players who don't want to be involved and be successful. 

Unfortunately for us they found terrible people to replace them and that decision may yet be the death of the club. 

Yet still a sizeable portion of the fanbase yearn for the Walker trust and fiercely defend Venkys. I despise them both for their ownership and decision making.

[dingles staying down 4ever]

15 hours ago, philipl said:

You don't need Jerome to find them a buyer.

I know of two potential buyers.

But you wouldn't want them at Rovers because the club would just be a feeder in an international stable of clubs.

But is that not what we are now in all but name? Wharton and Philips transfers case in point. 

[philipl]

If an Indian Court is warning this might take a long time....

[Crimpshrine]

35 minutes ago, philipl said:

If an Indian Court is warning this might take a long time....

https://www.nytimes.com/2024/01/13/world/asia/india-judicial-backlog.html

300 year backlog apparently!

Edited March 16 by Crimpshrine

[Ozz]

11 hours ago, Exiled_Rover said:

Red Bull Blackburn?

John Bull Blackburn!

[tomphil]

15 hours ago, miqaayil said:

I'm sorry guys ...i don't see us being sold unless someone with serious financial and political clout steps in and make them an offer through political channels which they can't refuse for the sake of the parent company. 

If i was in their shoes the only exit i see is liquidation .. not even Administration as both administration and sale will open the books over 10 years minimum. For that the EFL needs to step in , who's fit and proper test these guys cleared. Its a total mess which is why i'm still praying for a sovereign wealth fund like the BAHRAINI or Brunei or some royalty to get interested in us for their public image 

I've already called it they are gradually and tactically withdrawing.

All blame will go onto the Indian govt when we go down skint and having sold everyone and everything, this season or next. Then a few years in league 1 'poor old Blackburn the owners want to fund the club to the Prem but aren't allowed'  then we get forgotten about.

Sit in the corner of their portfolio now costing less than 10 mill a year including levies, fixed assets off the books then punted to one of Balaji's son's mates in 2028.

Indian govt is the new FFP.

[broadsword]

57 minutes ago, tomphil said:

I've already called it they are gradually and tactically withdrawing.

All blame will go onto the Indian govt when we go down skint and having sold everyone and everything, this season or next. Then a few years in league 1 'poor old Blackburn the owners want to fund the club to the Prem but aren't allowed'  then we get forgotten about.

Sit in the corner of their portfolio now costing less than 10 mill a year including levies, fixed assets off the books then punted to one of Balaji's son's mates in 2028.

Indian govt is the new FFP.

I think it's only fat Bazza who wants to keep us, Madame I'm sure would be happy to be rid of us, but only if there's no comebacks.

Then they can happily fuck off and nawse up their next misbegotten vanity project

[Old Codger]

2 hours ago, Ozz said:

John Bull Blackburn!

Sponsored by Holly Tree Chippy! Come on Mick Rose, you know you want to..!!

[SIMON GARNERS 194]

5 minutes ago, Old Codger said:

Sponsored by Holly Tree Chippy! Come on Mick Rose, you know you want to..!!

Come on Mick you've been rumbled!

[funny-old-game]

18 minutes ago, SIMON GARNERS 194 said:

Come on Mick you've been rumbled!

Is that Mick Ross that went to St Mary's college with Mark (Rammy) Ramsden

[miqaayil]

19 hours ago, Exiled_Rover said:

Who has to see the books in a sale? Just the buyer's legal / finance team, right? What are the legalities here?

Hypothetically speaking - if they did sell it to someone (dreamland being a local business owner), could they not simply come to a gentleman's agreement that whatever they find in said books isn't released to the public / government? i.e. "yes, you've used Rovers to siphon money out of the parent company with your incredibly dodgy, flat, £20m 'debt' every year, but we won't tell anyone 'cos we're desperate to buy the club and get you gone".

 

Nope if found out after the sale ...its aiding and abetting 

[miqaayil]

6 hours ago, tomphil said:

I've already called it they are gradually and tactically withdrawing.

All blame will go onto the Indian govt when we go down skint and having sold everyone and everything, this season or next. Then a few years in league 1 'poor old Blackburn the owners want to fund the club to the Prem but aren't allowed'  then we get forgotten about.

Sit in the corner of their portfolio now costing less than 10 mill a year including levies, fixed assets off the books then punted to one of Balaji's son's mates in 2028.

Indian govt is the new FFP.

No on this i disagree ...they are spending SBI's money not their own on a misrun failing business ..Why would the indian government step in ? They smell something rotten and V's might be backers of the opposing regime. They are on course to liquidation unless a miracle happens

[Norbert Rassragr]

There has to be some funny business going on, as who'd want to run a very public part of their portfolio so badly? Rich people love saving money with tax avoidance and suchlike not throw £20m+ down the toilet and run something to the ground.

[tomphil]

1 minute ago, miqaayil said:

No on this i disagree ...they are spending SBI's money not their own on a misrun failing business ..Why would the indian government step in ? They smell something rotten and V's might be backers of the opposing regime. They are on course to liquidation unless a miracle happens

The SBI debt will be secured and under pinned by Venky assets/land in India so they'll be risking that being seized if they default.

The way it seems structured is the VH group bank account pays Rovers losses from its vast turnover and as for the Indian govt they've already stepped in obviously and i'm talking about how it'll be portrayed in the media and by some of our delusional fans in order to defend Venkys.

[miqaayil]

5 minutes ago, tomphil said:

The SBI debt will be secured and under pinned by Venky assets/land in India so they'll be risking that being seized if they default.

The way it seems structured is the VH group bank account pays Rovers losses from its vast turnover and as for the Indian govt they've already stepped in obviously and i'm talking about how it'll be portrayed in the media and by some of our delusional fans in order to defend Venkys.

If it's secured and underpinned , the judge won't order you to put an equivalent deposit before sending over. 

 

The loss itself is questionable and nothing has been paid back as SBI has not called it.So from my study of situation Venkys have never funded us and never will and the assets of Rovers is being stripped. 

 

The local residents need to pressure the MP for loss of revenue due to mismanagement of club and mention in parliament the mismanagement by an INDIAN business , this will hit home harder under current political climate (don't want to explain) 

[tomphil]

14 minutes ago, miqaayil said:

If it's secured and underpinned , the judge won't order you to put an equivalent deposit before sending over. 

 

The loss itself is questionable and nothing has been paid back as SBI has not called it.So from my study of situation Venkys have never funded us and never will and the assets of Rovers is being stripped. 

 

The local residents need to pressure the MP for loss of revenue due to mismanagement of club and mention in parliament the mismanagement by an INDIAN business , this will hit home harder under current political climate (don't want to explain) 

The reason they are asking for a bond of equal amount is to ensure the money sent here is used specifically for the items it is requested for to run the football club.

If it isn't and they don't provide proof the bond will be non returnable so it's nowt to do with the VG group bank account or borrowings i assume.

Somewhere at the heart of all this the authorities over there obviously suspect some money has been going elsewhere which is something iv'e long suspected and banged on about. That's why i'm surprised they haven't tried to get an investigation over here but i also assume if anything has been going on the track are will covered.

Personally i'd be forensically dissecting the payroll and the agents fees of the last decade !

 

Edited March 16 by tomphil

[Norbert Rassragr]

Expecting the authorities here to investigate is a dream. Bury were taken over by a man with 22 insolvent companies behind him.

[Old Codger]

5 hours ago, funny-old-game said:

Is that Mick Ross that went to St Mary's college with Mark (Rammy) Ramsden

That'll be the Mick Rose whose dad was Fred, and brother Peter who both taught at the College back in the day. Not sure if Mick might have retired from the Holly Tree Chippy these days, and passed it on to the younger generation, but I think his missus (or daughter) can still be seen there from time to time..

There are many ex St. Mary's College folk lurking on these pages - you know who you are (in Thailand, Redditch and the like 🙂 ) Some of us have ended up back in Blackburn and let's be honest, there really are a lot worse places to live!

Father Stuart, Fred Arkwright, Mick Devoy, Joe Rigby (died last week at 96 I heard, RIP), Father Cassidy, John (?) Eastham (Spam), Ma Riley, Ma Burns, Fat Colly Collinridge, Dirty Denis Mahon, Joe Pilling (Groundsman), Tommy Duckworth, Father Wynne, And many others..

Not happy days for me, but for some, no doubt the time of your lives :O)

A good school for football.

 

[roversinmyblood]

Is it beyond a possibility that Venkies may sell a controlling interest in Rovers using the excuse that the Indian govt are blocking funding. They will still have a degree of ownership and hence save face a bit like the Glaziers at Utd. 

[miqaayil]

23 minutes ago, roversinmyblood said:

Is it beyond a possibility that Venkies may sell a controlling interest in Rovers using the excuse that the Indian govt are blocking funding. They will still have a degree of ownership and hence save face a bit like the Glaziers at Utd. 

again defeat their purpose of funneling 

[Leonard Venkhater]

1 hour ago, Old Codger said:

That'll be the Mick Rose whose dad was Fred, and brother Peter who both taught at the College back in the day. Not sure if Mick might have retired from the Holly Tree Chippy these days, and passed it on to the younger generation, but I think his missus (or daughter) can still be seen there from time to time..

There are many ex St. Mary's College folk lurking on these pages - you know who you are (in Thailand, Redditch and the like 🙂 ) Some of us have ended up back in Blackburn and let's be honest, there really are a lot worse places to live!

Father Stuart, Fred Arkwright, Mick Devoy, Joe Rigby (died last week at 96 I heard, RIP), Father Cassidy, John (?) Eastham (Spam), Ma Riley, Ma Burns, Fat Colly Collinridge, Dirty Denis Mahon, Joe Pilling (Groundsman), Tommy Duckworth, Father Wynne, And many others..

Not happy days for me, but for some, no doubt the time of your lives :O)

A good school for football.

 

And trauma for some apparently..

No mention of "Rev Kev", I note....

 

 

[Old Codger]

58 minutes ago, Leonard Venkhater said:

And trauma for some apparently..

No mention of "Rev Kev", I note....

 

 

Aye, best not to speak ill of the dead..

There's a few I'd forgotten, no doubt, and some who should be consigned to history.