Venky’s v Indian Government (a) - 13/11/2024 - Re-Arranged Challenge Match

[We Are The Rovers]

The below was sent to Steve Waggott yesterday:

 

Dear Steve,

The Blackburn Rovers Supporters Trust ‘We Are THE Rovers’ are most concerned at the latest Indian Government Enforcement Directorate (ED) action against the owners of our Club.

We understand the investigation relates to “illegal remittances made by the company since 2010, till date, to its wholly owned subsidiary named Venky’s London Limited, Cardiff, UK.”  The ED appears to directly implicate transactions relating to Blackburn Rovers.

Clearly this is of major concern to our Supporters Trust.  At the very least we would like to see a public statement from the Club as to any implications for Blackburn Rovers; we do however recognise you will want to pass any statement before the Club owners.

Our next Trust meeting is not with yourselves until the 14th November, this is over one month away.  If at all possible we would like the opportunity of an earlier meeting to discuss the single issue of the serious enforcement action against the owners, their future commitment to our Club and day-to-day funding. Can this please be arranged with some urgency even if it via Zoom?

Regards,

The We Are The Rovers Board

[Guest]

8 minutes ago, windymiller7 said:

I used to work for a consultancy firm owned by Gary Neville around 2008/9 (King Associates) and it was around the time that the house was being completed. I've actually been to the house a few times. Whether Venkys still own it or anyone else does/resides there, I've no idea.

What I do know is, it's at Top of Th Knotts in Bolton and definitely did not have gold taps! 😆

The building at the top of the photo also forms part of the estate. This is, what was, the housekeeper's cottage - Gary & Emma lived in this whilst the main house was being completed.

Whatever.. it is as gauche as fook, and looks like an architect's three year old has been asked to design 'a house'. And it was never theirs either - the company paid for it. They would have been better off staying at Stanley House or even better still Ghastley Bank.

[Upside Down]

4 minutes ago, Shirley Crabtree Wrestler said:

Whatever.. it is as gauche as fook, and looks like an architect's three year old has been asked to design 'a house'. And it was never theirs either - the company paid for it. They would have been better off staying at Stanley House or even better still Ghastley Bank.

They would have been better staying in India. 

[RoversClitheroe]

30 minutes ago, windymiller7 said:

I used to work for a consultancy firm owned by Gary Neville around 2008/9 (King Associates) and it was around the time that the house was being completed. I've actually been to the house a few times. Whether Venkys still own it or anyone else does/resides there, I've no idea.

What I do know is, it's at Top of Th Knotts in Bolton and definitely did not have gold taps! 😆

The building at the top of the photo also forms part of the estate. This is, what was, the housekeeper's cottage - Gary & Emma lived in this whilst the main house was being completed.

Can just use Zoopla to see if it's been sold or bought since then!

[Brfcrule1]

20 minutes ago, Rovers Trust said:

The below was sent to Steve Waggott yesterday:

 

Dear Steve,

The Blackburn Rovers Supporters Trust ‘We Are THE Rovers’ are most concerned at the latest Indian Government Enforcement Directorate (ED) action against the owners of our Club.

We understand the investigation relates to “illegal remittances made by the company since 2010, till date, to its wholly owned subsidiary named Venky’s London Limited, Cardiff, UK.”  The ED appears to directly implicate transactions relating to Blackburn Rovers.

Clearly this is of major concern to our Supporters Trust.  At the very least we would like to see a public statement from the Club as to any implications for Blackburn Rovers; we do however recognise you will want to pass any statement before the Club owners.

Our next Trust meeting is not with yourselves until the 14th November, this is over one month away.  If at all possible we would like the opportunity of an earlier meeting to discuss the single issue of the serious enforcement action against the owners, their future commitment to our Club and day-to-day funding. Can this please be arranged with some urgency even if it via Zoom?

Regards,

The We Are The Rovers Board

Well done Rovers Trust to the point & well put across I hope you get a response & meeting before the 14th November 👍

[Guest]

26 minutes ago, Brfcrule1 said:

Well done Rovers Trust to the point & well put across I hope you get a response & meeting before the 14th November 👍

Aye, keep us posted, and let's hope there is a plan for the refloating the ship

 

[Tyrone Shoelaces]

52 minutes ago, Shirley Crabtree Wrestler said:

Whatever.. it is as gauche as fook, and looks like an architect's three year old has been asked to design 'a house'. And it was never theirs either - the company paid for it. They would have been better off staying at Stanley House or even better still Ghastley Bank.

The “ architect “ should be ashamed.

[tomphil]

37 minutes ago, RoversClitheroe said:

Can just use Zoopla to see if it's been sold or bought since then!

We await your result .....

[lraC]

43 minutes ago, RoversClitheroe said:

Can just use Zoopla to see if it's been sold or bought since then!

Land Registry will show who the current owner is. 

[Leonard Venkhater]

1 hour ago, Upside Down said:

They would have been better staying in India. 

...never having been born lol

[DeeCee]

8 hours ago, windymiller7 said:

I used to work for a consultancy firm owned by Gary Neville around 2008/9 (King Associates) and it was around the time that the house was being completed. I've actually been to the house a few times. Whether Venkys still own it or anyone else does/resides there, I've no idea.

What I do know is, it's at Top of Th Knotts in Bolton and definitely did not have gold taps! 😆

The building at the top of the photo also forms part of the estate. This is, what was, the housekeeper's cottage - Gary & Emma lived in this whilst the main house was being completed.

Don't you mean Gaz and Emz?

[simongarnerisgod]

with the state of neville`s business dealings,they are probably living in a council flat in collyhurst😁

[smiller14]

https://x.com/kieranmaguire/status/1716472141812551695?s=46&t=Z0z9cI_hOf4gAbKDB_gYrw
 

Concerning

[PLJPB]

55 minutes ago, smiller14 said:

https://x.com/kieranmaguire/status/1716472141812551695?s=46&t=Z0z9cI_hOf4gAbKDB_gYrw
 

Concerning

Agreed. I posted earlier about this on the Trust thread suggesting they ask the club about this 

[tomphil]

I have a feeling this new approach to funding is going to lead us into all sorts of bother in time.

All those who kept chirping 'if it wasn't for the owners we'd be Bolton' hold onto your hats.

[superniko]

I’ve not looked into this one too much just yet but on first glance it looks like the guy heading up that Bolton company is a property developer. (Anil Kumar Pitalia)

training ground 🤝 Venkys 🤝 Waggot 🤝 property developer

[tomphil]

Director of how many companies..... !

[wilsdenrover]

4 minutes ago, tomphil said:

Director of how many companies..... !

I counted 31…

[lraC]

Crossbaron Limited are the company who have put the charge on the STC so must have lent the company some money. A former director Ceri Richard John, based in Bridgend, has been a director in 2381 companies in the last 23 years. He is currently a director of 143 companies and secretary of 5 others. Link below.

https://find-and-update.company-information.service.gov.uk/company/08818037

[lraC]

Here is a link to the companies Ceri John Richard has been involved in.

It may not be out of the ordinary, but seems like a lot to me.

https://www.companydirectorcheck.com/amp/ceri-richard-john-16

[lraC]

Strange or pure coincidence, but anyone taking a look at the link, will see him connected at one point to a company called Badeshite Limited. 

[Herbie6590]

Given we know that Venky’s are struggling to send money to the UK then realistically, their options to raise working capital have to be based around UK assets.

Mortgaging the training ground to raise funds is arguably therefore a sensible course of action…the only other plausible way to raise cash in the UK in a hurry is sell players. It might be short-term…it might not. Given that the company taking the charge is worth only £500k I doubt we are looking at massive fund raising at this juncture. 

Two things to watch out for:-

1. How much interest is now payable, when & presumably this must come from football operations ?

2. New applications for planning permission on the Brockhall estate which would suggest it’s a more substantive arrangement

[Herbie6590]

7 minutes ago, lraC said:

Strange or pure coincidence, but anyone taking a look at the link, will see him connected at one point to a company called Badeshite Limited. 

Sorry to ruin a great post…😆

[lraC]

9 minutes ago, Herbie6590 said:

Given we know that Venky’s are struggling to send money to the UK then realistically, their options to raise working capital have to be based around UK assets.

Mortgaging the training ground to raise funds is arguably therefore a sensible course of action…the only other plausible way to raise cash in the UK in a hurry is sell players. It might be short-term…it might not. Given that the company taking the charge is worth only £500k I doubt we are looking at massive fund raising at this juncture. 

Two things to watch out for:-

1. How much interest is now payable, when & presumably this must come from football operations ?

2. New applications for planning permission on the Brockhall estate which would suggest it’s a more substantive arrangement

Two things. Why would we need to borrow from that type of company? Has our credit rating taken a battering?

Is this company a venture capitalist? 

[Herbie6590]

20 minutes ago, lraC said:

Two things. Why would we need to borrow from that type of company? Has our credit rating taken a battering?

Is this company a venture capitalist? 

Not many mainstream banks will lend to football clubs outside the top six in the PL. There are some niche lenders like Dell & Macquarie that will but charge extortionate amounts.

If you have a property asset and you want to raise funds against it when a bank isn’t interested, then a property development company is a logical alternative. 
 

The issue here is whether it’s short term or part of a genuine attempt to unlock value in Brockhall by re-developing.

CROSSBARON seem to be property development. VC funding is typically for start ups…and usually involves share capital rather than loans…