Venky’s v Indian Government (a) - 5/8/2025 - Post-Season Friendly (s/t late postponements)

[RevidgeBlue]

20 minutes ago, lraC said:

I have attached part of an article from an Indian publication, as that indicates, that they did not declare the real reason for the equity infusion into Venkys of London.

If it’s 3 x the total amount, it’s game over, surely. 

I know you're getting very excited about the possibility the Indian Court will throw the book at Venky's but if anything the investigation against them seems to be tapering off not gaining teeth.

The efforts of the ED to prevent funds being transferred have been over-ruled twice and the bond has been reduced from 100% to 50%.

Not much  to suggest anything other than the current state of affairs and after that their ownership dragging on fairly interminably.

[lraC]

5 minutes ago, RevidgeBlue said:

I know you're getting very excited about the possibility the Indian Court will throw the book at Venky's but if anything the investigation against them seems to be tapering off not gaining teeth.

The efforts of the ED to prevent funds being transferred have been over-ruled twice and the bond has been reduced from 100% to 50%.

Not much  to suggest anything other than the current state of affairs and after that their ownership dragging on fairly interminably.

I’m not getting excited, just reading a few things that give me some hope.

Whether it’s unfounded or not, remains to be seen.

Its fair to say that the owners have certainly been economical with the truth and possibly down right fraudulent, but whether they gets their just deserts or not, only time will tell.

[lraC]

2 minutes ago, wilsdenrover said:

The court case re being able to send funds and the investigation are two separate things.

Plenty seem to be missing that point.

They are accused of fraud, by the equivalent of HMRC in India and yes, it gives me hope, that it could spell serious trouble for them. 

[wilsdenrover]

6 minutes ago, lraC said:

Plenty seem to be missing that point.

They are accused of fraud, by the equivalent of HMRC in India and yes, it gives me hope, that it could spell serious trouble for them. 

You quoted my post as I hid it  😁 (decided wasn’t worth going over old ground).

I’m hoping they’re found guilty and don’t pay the penalty.

I hope that as if they don’t pay it a prison sentence comes into play.

Edited 7 hours ago by wilsdenrover

[lraC]

11 minutes ago, wilsdenrover said:

You quoted my post as I hid it  😁 (decided wasn’t worth going over old ground).

I’m hoping they’re found guilty and refuse to pay the penalty.

I hope that as if they don’t pay it a prison sentence comes into play.

Sorry,

It probably is worth mentioning what you have, as plenty do not realise that the hearings regarding, funds, Venky’s are choosing to go to court, to try to get the impediments removed.

ED are investigating them for a serious offense, the ultimate penalty, for which is jail. That is a totally different issue, yet some think they are the same thing. 

Edited 7 hours ago by lraC

[wilsdenrover]

1 hour ago, davulsukur said:

Cheers.

I assume an appeal process would be at absolute piss taking levels of time, so this would likely drag on for years?

If they appeal it, would that still keep the blocker in place for funding the club? Or would that be removed regardless?

Just to add to my earlier reply.

During the last hearing the judge said something along the lines of ‘if there has been serious wrongdoing things will be different’.

I took that as meaning if the investigation goes against the Venkys he’ll put a stop to allowing funds being sent.

(I still don’t know how an appeal would affect this). 

[lraC]

1 minute ago, wilsdenrover said:

Just to add to my earlier reply.

During the last hearing the judge said something along the lines of ‘if there has been serious wrongdoing things will be different’.

I took that as meaning if the investigation goes against the Venkys he’ll put a stop to allowing funds being sent.

(I still don’t know how an appeal would affect this). 

Exactly why I’m hopeful that they will be found guilty of what they are accused of.

I don’t see why ED keep on trying to block them from sending funds, when everything is above board. Neither would they seize 6 properties, if they weren’t confident that they have a case to answer. 

[Crimpshrine]

24 minutes ago, RevidgeBlue said:

I know you're getting very excited about the possibility the Indian Court will throw the book at Venky's but if anything the investigation against them seems to be tapering off not gaining teeth.

The efforts of the ED to prevent funds being transferred have been over-ruled twice and the bond has been reduced from 100% to 50%.

Not much  to suggest anything other than the current state of affairs and after that their ownership dragging on fairly interminably.

The current state of affairs is that Venky's are not sending any money. 

If they do decide to send more money, the more it will cost them in bonds that they may never get back. 

Venky's will be getting to the point where they desperately want a conclusion to the investigation or they will be forced into a corner. The last thing they want is for the current situation to drag on.. 

[wilsdenrover]

4 minutes ago, lraC said:

Exactly why I’m hopeful that they will be found guilty of what they are accused of.

I don’t see why ED keep on trying to block them from sending funds, when everything is above board. Neither would they seize 6 properties, if they weren’t confident that they have a case to answer. 

They needed (wording in the law) a ‘reason to believe’ a contravention had taken place to do this.

How high a bar this is is anyone’s guess.

[lraC]

2 minutes ago, wilsdenrover said:

They needed (wording in the law) a ‘reason to believe’ a contravention had taken place to do this.

How high a bar this is is anyone’s guess.

Exactly and they are going to look rather foolish, let alone vulnerable to a counterclaim,  if they don’t have one. 

[DeeCee]

2 minutes ago, wilsdenrover said:

They needed (wording in the law) a ‘reason to believe’ a contravention had taken place to do this.

How high a bar this is is anyone’s guess.

How do you have time to suss all this out? (Very well done btw) Are you a house husband or does your job include shit like this? 👏

Just being nosy like 😁

[wilsdenrover]

Just now, DeeCee said:

How do you have time to suss all this out? (Very well done btw) Are you a house husband or does your job include shit like this? 👏

Just being nosy like 😁

1 yes  (role reversal can be fun 😁) 

2. the job I did have  involved the need to understand ‘legalese’ (or overcomplicated bollocks intended to make lawyers richer as I call it 😁😁). 

[DeeCee]

10 minutes ago, wilsdenrover said:

1 yes  (role reversal can be fun 😁) 

2. the job I did have  involved the need to understand ‘legalese’ (or overcomplicated bollocks intended to make lawyers richer as I call it 😁😁). 

Many thanks 🙏👍

[Rogerb]

The ED have a 95 per cent success rate when they bring a case so odds very much against the V's

[lraC]

6 minutes ago, Rogerb said:

The ED have a 95 per cent success rate when they bring a case so odds very much against the V's

I have been accused of getting excited about what’s happening with the court case. Excited may be a touch over the top, but I’m certainly filled with hope. Research like this is the very reason for this and add to that, what I have posted about a counter claim and there is certain plenty of hope there. 

[lraC]

16 minutes ago, Rogerb said:

The ED have a 95 per cent success rate when they bring a case so odds very much against the V's

This is also likely to be the reason for their reluctance to pay the bond, even at 50%.

[davulsukur]

3 hours ago, wilsdenrover said:

Probably! There’s a limit for how long you have to lodge an appeal but I don’t think there was one for it being heard (I’ve opened a bottle of wine since reading it 😁😁).

I don’t know the answer re the blocker,  sorry. 

Thanks

(Sorry for all the questions)

[wilsdenrover]

4 minutes ago, davulsukur said:

Thanks

(Sorry for all the questions)

No need to be sorry.

If I can help I will, if I can’t I’ll say so. 👍

[Upside Down]

Hopefully they have to pay three times the total amount they've sent over here since 2010.

[Tomphil2]

Looking from afar it seems quite possible the ED are digging their heels in on behalf of the govt because they just don't want huge sums regularly leaving the country anymore.

Probably trying to force them to drop the club or sell it, that could be the real driving issue.

Edited 3 hours ago by Tomphil2