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

[Dunnfc]

Just now, philipl said:

There is a covenant prevent a lien over Ewood.

I'm assuming it's broad in context to cover all security forms and restrict all types?

For example a letter of hypothecation doesn't ever or need to get registered? Using a letter like that as a security in the form of it being impracticle to takeaway the asset of the business running and as such could be a way to get round a "lien" which as far as i understand only constitutes the detaining of assets upon failure to pay and as such isn't an instrument to restrict charging against?

Still there is always Brockhall for it to go against.

[Leonard Venkhater]

Just now, perthblue02 said:

Fingers crossed Balaji's new husband in the Arthur Road Jail has an aversion to using lubricant

I am thinking more Edward 11.

[OJRovers]

"Hi Mrs Desai, this is Mike."

"Mike from the football club, I think Suhail probably mentioned me sometime"

"Is next week a good time for me and Tony to come to Pune to discuss funding?"

".........hello?"

[sjsbrfc]

Why haven't The LT or Radio Lancs mentioned yesterday's events?

[RV Blue]

Surely now is the (last) chance for Battersby and Currie to try and buy the club? From what people on here have said, administration is inevitable so surely Venky's will be happy to get rid of it cheaply?

[Pedro]

2 hours ago, RV Blue said:

Surely now is the (last) chance for Battersby and Currie to try and buy the club? From what people on here have said, administration is inevitable so surely Venky's will be happy to get rid of it cheaply?

People on here have said it for almost 7 years. It's only guesswork.

[RV Blue]

1 minute ago, Pedro said:

People on here have said it for almost 7 years. It's only guesswork.

I know but it is fact that we need a cash injection from the owners to get through this season, and if they are unable to provide it because their business is paralysed, administration is the only option (apart from a takeover).

[Gav]

4 hours ago, sjsbrfc said:

Why haven't The LT or Radio Lancs mentioned yesterday's events?

They're in bed with the swines sjs.

I once went out of my way to buy the Telegraph, local paper deserved supporting, but I'll never buy the rag again, they've let the clubs fans and the town down over the past 7yrs.

[Pedro]

34 minutes ago, RV Blue said:

I know but it is fact that we need a cash injection from the owners to get through this season, and if they are unable to provide it because their business is paralysed, administration is the only option (apart from a takeover).

We certainly do but I think they are more than happy for us to just wither and die.

[chaddyrovers]

5 hours ago, sjsbrfc said:

Why haven't The LT or Radio Lancs mentioned yesterday's events?

Because it isn't about Rovers but about Venkys businesses in India. How likely are they to be able to comments from them when in the past years Venkys wont talk to anyone

Rich Sharpe said yesterday he will look into it.

4 hours ago, RV Blue said:

Surely now is the (last) chance for Battersby and Currie to try and buy the club? From what people on here have said, administration is inevitable so surely Venky's will be happy to get rid of it cheaply?

people have been saying this for past 3 years.

administration isn't going to get Venkys back their money. All Football bills needs to be paid.

If Venkys cant paid the bills due to their accounts being frozen then maybe administration is a possible maybe.

[Hasta]

Just now, chaddyrovers said:

Because it isn't about Rovers but about Venkys businesses in India. How likely are they to be able to comments from them when in the past years Venkys wont talk to anyone

Rich Sharpe said yesterday he will look into it.

 

Like Wheelock said he would 'look into' the leaked documents?

Its a far more interesting Rovers related story than whatever else they will be featuring at the moment. They won't print it because they don't want to shed bad light on the club for whatever reason.

[RV Blue]

Just now, chaddyrovers said:

people have been saying this for past 3 years.

administration isn't going to get Venkys back their money. All Football bills needs to be paid.

If Venkys cant paid the bills due to their accounts being frozen then maybe administration is a possible maybe.

Can you see them putting in £10 million when they've got all this going on back home?

[chaddyrovers]

Just now, Hasta said:

Like Wheelock said he would 'look into' the leaked documents?

Its a far more interesting Rovers related story than whatever else they will be featuring at the moment. They won't print it because they don't want to shed bad light on the club for whatever reason.

Wheelock did. but people did people above him want to do the stories? 

Just now, RV Blue said:

Can you see them putting in £10 million when they've got all this going on back home?

We will be the last thing on their minds. Hopefully they sell us to bring in some money for themselves

[joey_big_nose]

As others have said relying on the Indian court system will take years. However there has to be significant scope to put pressure on the FA. This is hugely embarrassing for them.

[Lie_still_Rover]

Will Venkys assets be frozen as a consequence of these developments?

[Mike E]

Given how lax the attitudes to tax in India are, just HOW corrupt must these people be to get investigated???

[Mike Graham]

Just now, Mike E said:

Given how lax the attitudes to tax in India are, just HOW corrupt must these people be to get investigated???

Send me £10 to my Nigerian bank account and I will tell you.

[Mike Graham]

I expect Balaji and Venkatash are secreting 100 rupee notes up their anus in order to pay off the prison guards to allow them to watch Rovers on Sky TV when serving their jail sentences.

They will need all the prison 'comforts' they can afford.

[Wing Wizard Windy Miller]

Perhaps somebody more clued up can explain but if they don't put in the £10 mil, surely at some stage mid season we will end up in admin as we won't be able to cover wages etc.  

 

[Mike Graham]

Just now, Wing Wizard Windy Miller said:

Perhaps somebody more clued up can explain but if they don't put in the £10 mil, surely at some stage mid season we will end up in admin as we won't be able to cover wages etc.  

 

718 early bird ST holders will pay Jason Lowe's wages for about 3 weeks.  Rovers will need to lay off the toilet cleaners......the BBE will be swimming in s**t next season.

[john.leigh]

Having listened to the Radio Lancs Bayes - Battersby - Nixon interview, selling Rovers won't bring in any money for Venkys. Rovers are practically unsellable. Who's gonna pay £Xmillion to buy a business that stands to make a £10m loss next season?

Ian Battersby dismissed the idea of administration as Rovers don't hold significant external third party debt - pretty much all the money owed is owed to Venkys - but paying wages might present a problem now...

If you haven't listened to the Radio Lancs special you should. Ian B talks a lot about the grim financial reality we're facing, hard to take but very interesting.

My hope is that this Income Tax scandal persuades Venkys to ditch any frivolous activities (like owning football clubs) and give full attention to their core business. They don't need distractions now and should be stripping things back to work on smoothing out this very embarassing tax situation.

Hoping that they dispose of the club, and if they wanted to show what good corporate citizens they are they could do something crazy like donating it to a community trust to be run on a not-for-profit basis or selling to a local consortium for £1.

The only way they will retain even a scrape of dignity is to handle the disposal in a dignified way. Nobody wanted to buy Rovers when we were in the Premier League - why on earth would anybody want to buy them in the third division?

 

[Tony Rover]

I have thought for some time now that Venkys have used us as a tax break for all their other business. Pleased to see something in India is taking off.... Unfortunately all I can see in the near future is more pain for us. 

[Athlete]

1 hour ago, chaddyrovers said:

Because it isn't about Rovers but about Venkys businesses in India. How likely are they to be able to comments from them when in the past years Venkys wont talk to anyone

Rich Sharpe said yesterday he will look into it.

people have been saying this for past 3 years.

administration isn't going to get Venkys back their money. All Football bills needs to be paid.

If Venkys cant paid the bills due to their accounts being frozen then maybe administration is a possible maybe.

dont forget that fiver to East Lancashire Hospice chaddy...wish I'd of been wrong but I unfortunately wasn't

[Hasta]

1 hour ago, chaddyrovers said:

Wheelock did. but people did people above him want to do the stories? 

 

 

Exactly. The LT should report the Venky tax scandal, Rich may well want to report it but the top dogs will say no.

It's a Joke piece of chip wrapping.

[tomphil]

1 hour ago, Wing Wizard Windy Miller said:

Perhaps somebody more clued up can explain but if they don't put in the £10 mil, surely at some stage mid season we will end up in admin as we won't be able to cover wages etc.  

 

This is where the club itself will be scrabbling around trying to raise funds and probably end up remortgaging something IF anyone will lend. Venkys might not put the club in admin but if they can't release funds to stop it then it will come. Either that or the club will end up virtually liquidating itself anyway by selling everything off.

Maybe those Brunei bank accounts will send funds flowing back this way for a change instead .....