[Archived] 40 Venky's Premises raided by Indian Tax Officials

[bob fleming]

1 hour ago, West Yorks Rover said:

The  UK press/media don't appear to have picked this up yet.

Funny that, I thought. I was just saying, funny that, how the media haven't reported this news. Especially the local media, the ones based in Blackburn. You'd have thought they'd have been all over it. Especially the comments pages of the local paper, you know the ones, those ones after the articles. I thought, that's funny. I'd have thought they'd have picked up on this. But no. Funny that. Funny peculiar, not funny ha ha. Normally they've bang on the money those lads, specially the press boys.

Mind you, they're doing a regular "feature" on "fake" news, the Lancashire Telegraph that is. I thought that's funny, for a paper that prints propaganda and no bloody news. How funny! Like that Trump bloke, how strange. 

Proper let down that lot. Funny that. I'll buy it tomorrow though, it'll be the front page I'd imagine.

[Mike Graham]

Ask for a life TV debate with Dianne Abbott.

[Wing Wizard Windy Miller]

Just now, preston blue said:

Ask for a life TV debate with Dianne Abbott.

But don't mention her cat!

[bob fleming]

Just now, preston blue said:

Ask for a life TV debate with Dianne Abbott.

er, no. See new thread.

 

[A cup of beans]

If only this was the start of the Roas' world caving in.

In the very least,  lets hope their lives are made as uncomfortable as possible... (or as short as possible). 

 

[Sparks Rover]

Has it been confirmed or is this just 3 pages of straw clutching?

[Aberdeen Blue]

Is there the death penalty for tax evasion in Indian?

One can only hope.......

[Butty]

Let's just hope they don't go down and take us with them. They've taken us down far enough already

[glen9mullan]

http://punemirror.indiatimes.com/pune/civic/i-t-sleuths-search-40-premises-of-venkys/amp_articleshow/58650075.cms

[blueboy3333]

Just now, glen9mullan said:

http://punemirror.indiatimes.com/pune/civic/i-t-sleuths-search-40-premises-of-venkys/amp_articleshow/58650075.cms

'The operations were planned after the investigation units got suspicious about the movements of huge cash and other illegal transactions leading to tax evasion by the company'

In swag bags marked 'Rhodes cash' 'Hanley cash' etc

[blueboy3333]

You'd think the weak as @#/? FA would have some rules in place that could force the sale of Rovers if the owners are found guilty of tax evasion on a massive scale? Hopefully it's an international investigation that incorporates Venky's London

[USABlue]

Wouldn't it be fitting if their own greed brought them down.

[AllRoverAsia]

3 hours ago, blueboy3333 said:

'The operations were planned after the investigation units got suspicious about the movements of huge cash and other illegal transactions leading to tax evasion by the company'

In swag bags marked 'Rhodes cash' 'Hanley cash' etc

"Samba cash" missing in transit alledgedly.

[lraC]

I wonder is any of the large cash transaction ended up in a Western Union account in Bradford. Gosh I do hope this is the start of something big.

[Paul]

6 hours ago, glen9mullan said:

http://punemirror.indiatimes.com/pune/civic/i-t-sleuths-search-40-premises-of-venkys/amp_articleshow/58650075.cms

Can someone confirm my understanding of this. 

In November 2016 the Indian government "demonetised" certain large value bank notes? I haven't encountered this concept before.

https://www.google.co.uk/search?rlz=1CDGOYI_enGB622GB622&hl=en-GB&ei=HpsWWd7RA6bcgAaV-46IAw&q=demonetisation+in+india&oq=demonetisation&gs_l=mobile-gws-serp.1.0.0i71k1l5.0.0.0.9819.1.1.0.0.0.0.0.0..0.0....0...1..64.mobile-gws-serp..1.0.0.5uuZLKisOLQ

I presume those bank notes immediately cease to be legal tender? The assumption is Venky's have been trading in cash to avoid tax. Faced with their notes suddenly becoming worthless Venky's began moving large amounts of cash around, presumably in to bank accounts, so it would retain its' value?

[AllRoverAsia]

Just now, Paul said:

Can someone confirm my understanding of this. 

In November 2016 the Indian government "demonetised" certain large value bank notes? I haven't encountered this concept before.

https://www.google.co.uk/search?rlz=1CDGOYI_enGB622GB622&hl=en-GB&ei=HpsWWd7RA6bcgAaV-46IAw&q=demonetisation+in+india&oq=demonetisation&gs_l=mobile-gws-serp.1.0.0i71k1l5.0.0.0.9819.1.1.0.0.0.0.0.0..0.0....0...1..64.mobile-gws-serp..1.0.0.5uuZLKisOLQ

I presume those bank notes immediately cease to be legal tender? The assumption is Venky's have been trading in cash to avoid tax. Faced with their notes suddenly becoming worthless Venky's began moving large amounts of cash around, presumably in to bank accounts, so it would retain its' value?

Pre demonetisation much of Indian business was cash based. Physical notes.

Certain Rupee notes were taken out of circulation and cash holdings of these notes had to be banked to legitimise the money by bringing it into the banking system.

The expectation being that paying tax would become less of a optional activity.

I imagine this created huge difficulties for those holding huge amounts of currency which as soon as its banked can be assessed etc etc.

Which doesn't explain why anyone would retain old currency.

I therefore imagine that the old ways are still operating but now with newer currency notes. Old habits die hard.

[davulsukur]

Fit and proper, eh?

[Mike Graham]

No money for Rovers then.  It will all go in supplying pies and ganga to Balaji in his prison cell.

[AllRoverAsia]

We'll set up a crowding funding page for Bling's time in the pokey.

All monies to go in cash to the jail guards to make the fat gits life as miserable as possible.

[arbitro]

35 minutes ago, Paul said:

Can someone confirm my understanding of this. 

In November 2016 the Indian government "demonetised" certain large value bank notes? I haven't encountered this concept before.

https://www.google.co.uk/search?rlz=1CDGOYI_enGB622GB622&hl=en-GB&ei=HpsWWd7RA6bcgAaV-46IAw&q=demonetisation+in+india&oq=demonetisation&gs_l=mobile-gws-serp.1.0.0i71k1l5.0.0.0.9819.1.1.0.0.0.0.0.0..0.0....0...1..64.mobile-gws-serp..1.0.0.5uuZLKisOLQ

I presume those bank notes immediately cease to be legal tender? The assumption is Venky's have been trading in cash to avoid tax. Faced with their notes suddenly becoming worthless Venky's began moving large amounts of cash around, presumably in to bank accounts, so it would retain its' value?

In a bleary eyed state I read 'demonetised' as demonised. Somehow I thought this more appropriate.

[RV Blue]

8 hours ago, glen9mullan said:

http://punemirror.indiatimes.com/pune/civic/i-t-sleuths-search-40-premises-of-venkys/amp_articleshow/58650075.cms

One of the biggest raids in recent times according to that. If the Indian authorities are starting to get tough on tax, hopefully they make a proper example out of Venky's. Even though it (probably) doesn't affect Rovers, I still want nothing but bad things to happen to them.

[AAK]

Was it mentioned on here before that HMRC may have been looking at venkys? Could that have been correct then, they do work with foreign countries

[gumboots]

I think it was. A while back

[Gav]

These idiots are super rich, they'll lace a few palms with silver and this will blow over.

All that said I'm happy that 3 stooges won't have slept well last night, and probably won't for a while longer yet. I'm a firm believer in if you treat people badly, bad things will eventually come your way.

Hope you're listening, you know who you are 

[lraC]

It may well affect Rovers all this. It was reported last week that Tony Mowbray was due to fly over to India, to meet with them and discuss the plan for next season. With the historic reluctance to even acknowledge anyone connected with Rovers, they are hardly going to suddenly want to discuss us, with all this going on? Given the £10m black hole for next season, this may well mean the rumoured none payments, may become more than just rumours and ,at well filter down to staff an players not being paid. If that does happen, I would hope the football authorities step in. If this turns out to be as big as it looks initially, how will the FA, football league ETC look, when we press home, how they chose to ignore the fans concerns.

Around 3 weeks ago a poster on this site E Mailed and posted a letter and documents to David Newton the head of integrity at the FA. This letter and documents, was a thorough breakdown of all the wrong doing at BRFC. So far this has been met with a wall of silence. Can this be ignored for much longer?