Venky’s, HMRC…The Plot Thickens ?

[SIMON GARNERS 194]

11 minutes ago, Crimpshrine said:

I think they declared the house purchase as an asset of their poultry business so the Indian authorities saw this as a tax dodge.

A chunk of the £5 million may have to go to the Indian Government to make up for the missing tax and maybe a fine. Once that is sorted, they may get some of their seized assets back. 

I doubt any of the money will make it's way to Ewood.

Dont trust them one iota.

[Herbie6590]

If only this said “Rovers new owners…” & “Ewood”…🤨

[Herbie6590]

https://swissramble.substack.com/p/blackburn-rovers-finances-202223

[Crimpshrine]

In the Swiss Ramble article it states

In March Venky’s said that the Indian court case was now only related to “technical and procedural issues and should have no future impact on the owners being able to continue to fund the club”

 This is actually taken from a statement issued by Waggott , not Venky's.

In the same LT article that there is confirmation that Venky's still need to get permission to send money. this was when the court case was postponed :

"£11.5million was transferred in November to provide funding until the end of January and Venky’s wanted their latest application to cover the club until the summer and beyond. The sale of Adam Wharton and the influx of money from a sell-on clause in David Raya's move from Brentford to Arsenal will provide some buffer for the club".

So, as far as I can determine, the owners ability to fund the club is still very much in the balance and we are reliant on money from player sales until August at the earliest.  

[lraC]

7 minutes ago, Crimpshrine said:

In the Swiss Ramble article it states

In March Venky’s said that the Indian court case was now only related to “technical and procedural issues and should have no future impact on the owners being able to continue to fund the club”

 This is actually taken from a statement issued by Waggott , not Venky's.

In the same LT article that there is confirmation that Venky's still need to get permission to send money. this was when the court case was postponed :

"£11.5million was transferred in November to provide funding until the end of January and Venky’s wanted their latest application to cover the club until the summer and beyond. The sale of Adam Wharton and the influx of money from a sell-on clause in David Raya's move from Brentford to Arsenal will provide some buffer for the club".

So, as far as I can determine, the owners ability to fund the club is still very much in the balance and we are reliant on money from player sales until August at the earliest.  

You have to read between the lines with Waggott on this, but the word should used instead of will, certainly tells us that he is not certain that the court will rule in the owners favour.

I see this as a pretty serious matter (sending illegal payments is the word used in the Indian press article and no alleged in there) and can imagine that a dim view will be taken by the courts and it could lead to them being banned from funding permanently.

One other things to consider here, is that it was put out last year, that the project had changed, due to a change in the Indian tax laws, which appears to have been a total lie.

[MarkBRFC]

Ahh the "Indian Tax Law" excuse, conveniently forgotten about i see.

[Exiled_Rover]

"When the music stops".

When did the music start under these cunts? 

[lraC]

Just another thought on this and article the club put out in the telegraph.

This statement from the owners, suggesting that the court case, is now just a matter of technical and procedural issues being ironed out, simply does not ring true.

The tranche allowed to be released in November, was done so on the proviso that it was needed for the club to fund it's financial responsibilities (players and staffs wages as well as HMRC I suspect) and without that, there was some imminent danger of things looking rather grim.

Given that the exact argument was put forward in February and again in March, why, if it is such a formality, would an Indian court postpone things for 6 months by which time, the club could have been in serious trouble, had it not been for the Wharton sale.

The courts were unlikely to have known about Wharton and even if they were, it has now transpired that we sold him on the cheap, which could have cost £10m plus, just because of some technicality.

Yet, again, something does not add up here. 

[arbitro]

'But we could be another Bolton' has been a favourite saying of some of our more myopic fans. Well with a CEO like this I'd take that in a heartbeat.

 

[Norbert Rassragr]

Brighton, Ipswich, Coventry, Bolton and bounced back from despair and seem to be on the up. No reason we can't if just get Venkys out.

[lraC]

31 minutes ago, arbitro said:

'But we could be another Bolton' has been a favourite saying of some of our more myopic fans. Well with a CEO like this I'd take that in a heartbeat.

 

How refreshing to hear and it puts our owners to shame. She spoke there with passion that is sadly totally missing from our owners CEO and any other decision maker at the club.

I know only too well what the previous owner did to their club, as my late first wife was from Bolton and I lived in the town for a few years and know lots of Wanderers fans.

As we have seen in a very short space of time, they have gone from the low that she described there, to what they are now and are likely to be in a higher league position and certainly far more stable than we are, very soon.

For the people who seem to think, it is Venky's or the end, have a proper look at their story and think again, as we are more than capable of an existence without the Indians. 

[Moptop1]

We should hire a big screen or projector and get this screened down at Ewood. That would get noticed.

Show The Owners and Waggot up and get wider coverage.

That would certainly get attention on Sky and in India. Let them work out how to get out of those questions asked?

Edited 6 hours ago by Moptop1

[JHRover]

1 hour ago, Norbert Rassragr said:

Brighton, Ipswich, Coventry, Bolton and bounced back from despair and seem to be on the up. No reason we can't if just get Venkys out.

Portsmouth, Derby, Luton too.

Sooner we get rid the sooner we can rebuild.

The longer they are here the harder it gets.

[arbitro]

2 hours ago, lraC said:

How refreshing to hear and it puts our owners to shame. She spoke there with passion that is sadly totally missing from our owners CEO and any other decision maker at the club.

I know only too well what the previous owner did to their club, as my late first wife was from Bolton and I lived in the town for a few years and know lots of Wanderers fans.

As we have seen in a very short space of time, they have gone from the low that she described there, to what they are now and are likely to be in a higher league position and certainly far more stable than we are, very soon.

For the people who seem to think, it is Venky's or the end, have a proper look at their story and think again, as we are more than capable of an existence without the Indians. 

And as of this morning they have sold 30,000 tickets for their playoff final against Oxford on Saturday. I shudder to think how embarrassed we would be with poor ticket sales if we ever got to Wembley under this shower. 

[simongarnerisgod]

31 minutes ago, arbitro said:

And as of this morning they have sold 30,000 tickets for their playoff final against Oxford on Saturday. I shudder to think how embarrassed we would be with poor ticket sales if we ever got to Wembley under this shower. 

thats not going to happen with team waggot now in charge of everything,we`ll be lucky if we ar`nt playing bamber bridge in 10 years time