wilsdenrover

Maybe, but that only mentioned ‘financial commitments’ - there was no reference to transfer funds (or anything else for that matter ). The £26 million was what they wanted to be able to send to which the DoE objected (hearing of 7/6/23) The £3.54 million was the sum they said was needed to prevent HMRC issuing a winding up order. (hearing of 23/6/23) As an interim measure, the judge (in trying to balance the two sides) allowed this lower sum to be remitted.

Can I ask where you’ve got that from as I can’t see any reference to requesting funds for transfers ( or the judge rejecting the same) in the original order. Just to add, the only condition for the first payment was the guarantee - the other conditions were added later.

Suck on that Balaji

I’m around 7 miles away (as the crow flies) dry here at the moment too. A nice uneventful hour once they get back on would be good. 🤞

You took ‘retain this portion’ literally didn’t you 😀😀

No I’m not - how very dare you 😁😁 I meant to tire Bumrah out not increase his fitness/form. 😀

Potentially - opinions may differ on whether this will actually happen.

Too late 😁 - don’t you dare hit the hide button 😁😁

Additional court conditions… The club’s auditors have to provide a certificate confirming the use of the funds. Venkateshwara Hatcheries have to submit bank statements for both Venkys London and BRFC to substantiate the use (and final destination) of the funds.

I think the rain will end up the winner today but getting some overs in Bumrah’s legs might benefit us later in the series.

£4.85 million for one quarter x 4 = very close to the much vaunted £20 million a year 🤔🧐

Perhaps we should do @K-Hod a list to take to the next fans’ forum 😁😁 I’ll make a start (and apologise for going so off topic at the same time 😁): Was the overdraft facility renewed in May and if so were the terms at least as favourable as before? Can you confirm that the owners now only have to return to court to send monies if they’re also seeking to vary the condition placed upon them to do so? During the period of the investigation, have the owners ever sought permission (either through the courts or directly with the Directorate of Enforcement) to send player purchase funds? (and if not, why not?)

and also how they got on with renewing the overdraft facilities in May.

Just to correct the LT’s error - the request was made to the court on the 22nd April, the 26th May was when the court issued the order granting permission.

I assume this one will be a second string but you never know with our lot…

Maybe it’s just the calm before the storm.

Unfortunately some people fall for this.

Exactly, you can see this within the structure (I use that word loosely!) they’ve developed (multiple heads of etc). It makes it difficult to nail down who is to blame for any single mistake and makes it easy to be distracted from the fact everything is ultimately their fault.

Of course we can’t know this but it certainly sounds like a plausible Venkys’ “ not our fault guv” tactic. Everything appears (to me at least) as if they’re doing the bare minimum, and even then reluctantly so and at the last possible moment (before the shit hits the fan). As is often asked on this and other threads, why won’t they sell the club??

It would appear that the Venkys and the Directorate of Endorcement have done a deal where the DE will issue the no objection certificate so long as the Venkys meet all the conditions previously imposed by the court. Whether this deal (assuming it exists - I’m basing this on the certificate which was issued March ‘24 without a court case) includes the DE okaying funds being sent for transfers is anyone’s guess (although I believe most would think not). If it does, then yes, this would include Venkys having to give the £2.5 million (in your example) to the ED by way of a guarantee.

The original writ petition by the Venky’s was, as you said, in relation to not being allowed to send £26 million. This writ is yet to be fully resolved (I know right!!) what has happened in the meantime is: In June ‘23 the judge allowed the circa £3.6 million to be sent across as an interim measure. The Venky’s have made separate applications (a case within a case if you like) to: * be able to send £11 million across (heard and approved 31/10/23) * be able to send monies without the need for a guarantee (first of many adjournments 23/9/24 - currently listed for 5th August) * be able to send £4.85 million across (heard and approved 26/5/25) Hope that helps.

Or it might rain all day 😬

Nothing wrong with the one you used.

I’d have gone with ad nauseam.

It’s all semantics really isn’t it. I think the important thing is they shouldn’t be allowed to use these hindrances as an excuse for not funding the club properly. Yes, as you say, they exist, but no they do not prevent them from fulfilling their obligations to the club. If they don’t want to do this properly they should just fuck off.