Venky’s, HMRC…The Plot Thickens ?

[tomphil]

12 minutes ago, Crimpshrine said:

I'm a little confused.

The article claims that the problem is with Venky's Overseas Ltd dating back to 2011:

The ED had initiated an investigation in connection with the illegal remittances made by the company since 2011 by its subsidiary named Venky's Overseas Limited, UK.

But VOS Ltd was only created in 2023- based in Jersey.

Venky's London limited, which directly owns Rovers, was created in 2010 but didn't post any accounts until 2011.

That i would assume is where it gets murky there is clearly a lot more to it and i doubt the article is 100% accurate but it does expose something is definitely going on over there.

[tomphil]

9 minutes ago, martonrover said:

Fair enough. I just think it’s pathetic that the local media aren’t taking a closer look at what’s going on, especially as it’s in the public domain that the funding has been cut but no straight forward explanation has been forthcoming.

Then a simple internet search provides an explanation.

Once they've taken their direction from the club i expect they'll do a damage limitation piece on it along the lines of storm in a teacup and owners being victims (again) of new red tape in India.

[Armchair supporter supremo]

11 hours ago, the original david brent said:

Struggling to see how this benefits Rovers in any way? I would have thought it’s quite the opposite 

That's the major dilemma i see also, It just wont end well for either party unless the venks just swallow their pride now and flog us on the chirpy chirpy cheep cheep. 

[LeftWinger]

I've been in touch with the editor of the India Today article. 

He would be interested in doing a fresh story regarding their investment in Blackburn Rovers.

He wants accurate details and numbers. 

Would any of the people with more knowledge on the specifics of their investment (in numbers) being interested in getting in touch with him?

[martonrover]

5 minutes ago, tomphil said:

Once they've taken their direction from the club i expect they'll do a damage limitation piece on it along the lines of storm in a teacup and owners being victims (again) of new red tape in India.

A pale shadow of what they used to be.

Nick Harris was on their case in the Kean era, but I doubt he’d be interested now.

[Mattyblue]

25 minutes ago, booth said:

Sadly the club is further away from the PL than it's ever been.

Me and my Dad walked off the Wigan game and said ‘we’ll never see the Premier League’ again, nothing has happened since to alter that view.

Edited September 6, 2023 by Mattyblue

[Brainfreeze]

12 hours ago, wilsdenrover said:

Isn’t Alexander House Gary Neville’s old place?

Yep, remember this?

https://www.theboltonnews.co.uk/news/9182012.gary-sells-home-to-owners-of-rivals-blackburn-rovers/

Edited September 6, 2023 by Brainfreeze

[47er]

14 minutes ago, Armchair supporter supremo said:

That's the major dilemma i see also, It just wont end well for either party unless the venks just swallow their pride now and flog us on the chirpy chirpy cheep cheep. 

Well they'd save themselves £20M a year!

[Upside Down]

1 minute ago, 47er said:

Well they'd save themselves £20M a year!

From the sounds of this, that's the opposite of what they want to do.

[tomphil]

I think they were just on another publicity stunt ego trip when they bought that gaff.

[booth]

11 minutes ago, Mattyblue said:

Me and my Dad walked off the Wigan game and said ‘we’ll never see the Premier League’ again, nothing has happened since to alter that view.

Same with myself and my Dad.

Used to sit right in the middle of the Riverside so had a good view of Kean brazenly taking the club for everything he could.

[MarkBRFC]

I predict we'll here very little about anything to do with this and nothing will happen.

A year from now we'll be in the same position and this will be forgotten about.

[1864roverite]

Maybe the right time for a potential buyer to take the club off their hands at a very reasonable price especially if the debt to   V’s is wiped

[Upside Down]

4 minutes ago, 1864roverite said:

Maybe the right time for a potential buyer to take the club off their hands at a very reasonable price especially if the debt to   V’s is wiped

We can only dream.

[arbitro]

In truth I don't really understand what is going on (does anybody) but my hope is that the story really discredits them and affects their standing in India. I've always thought there are people who signed NDC's who know where the bodies are buried at Ewood. Hopefully some can go public and then the screw on these reprehensible people.

[wilsdenrover]

11 hours ago, Butty said:

73m I think the article says.

It says £7.3 million  - they’ve put a comma in the wrong place.

Just seen this has already pointed this out…

Edited September 6, 2023 by wilsdenrover

[lraC]

34 minutes ago, LeftWinger said:

I've been in touch with the editor of the India Today article. 

He would be interested in doing a fresh story regarding their investment in Blackburn Rovers.

He wants accurate details and numbers. 

Would any of the people with more knowledge on the specifics of their investment (in numbers) being interested in getting in touch with him?

I am sure someone on here can provide pretty accurate number and a detailed account of what has happened.

[Butty]

5 minutes ago, wilsdenrover said:

It says £7.3 million  - they’ve put a comma in the wrong place…

Just seen @den has already pointed this out.

My bad, it was late last night. Thanks for clarifying.

[LeftWinger]

4 minutes ago, lraC said:

I am sure someone on here can provide pretty accurate number and a detailed account of what has happened.

Well if anyone wants to PM me some contact details I will pass them on to him. He seemed quite keen to pursue a story.

 

[wilsdenrover]

Press release from those carrying out the investigation…

https://enforcementdirectorate.gov.in/sites/default/files/latestnews/PR MBZO2- FEMA Seizure-4.09.2023.pdf

[tomphil]

Further investigation in progress !

[TheKitGuy]

Give it 2 weeks and this will not be a topic. As much as we all wish for the Venky's to sell up it's not in our best interests as crazy as that sounds. The money involved etc. is just not feasible unless someone with a seriously large budget comes in circa. £500m of spending money. The debt alone owed to the Venky's would chew up half if not more of that budget, it's so far away from a fan owned club that we all dream of. Dig deep, support the manager and players on the pitch and just hope to god miracles happen on the grass because they certainly won't be happening in the board room.

[Ghost7]

Nice to see some truth. No thanks to Steve!

They are in hot water.

[Moptop1]

Let’s see them sugarcoat this…

[lraC]

This has almost certain hit the light of day in the past, but seeing as I have never seen it, thought now might be a good time to bring it back out.

Venky’s-owned Rovers confirm arrest of player on fixing charges - Hindustan Times