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

[RevidgeBlue]

2 minutes ago, MarkBRFC said:

Why would they be bothered about doing the right thing now when they haven't for the past 14 years?

Over the years they do seem to have had intermittent periods where they have  splurged loads of cash and others when the taps appear to have been turned off.

This feels slightly different now though, like a concerted effort to sell anything of any value and until the next player "does a Szmodics" and improves out of all recognition they appear to have more or less completed the task.

To be fair, I did say "If" not "They will".

[Bethnal]

13 minutes ago, Theopinionatedone said:

Our fans will do nothing i'm afraid, so tame. Stockholme syndrome well and truly set in

We get back what we put in, so let’s hope we all wake up to that.

[SIMON GARNERS 194]

16 minutes ago, rovers11 said:

Oh what a surprise! The worst possible outcome but also the predictable one.

The Sammie money now gets sucked up into keeping the lights on until November. 

Eat,sleep,rave and repeat.

[Forever Blue]

If true that it has been delayed, then I’m looking forward to how this will be communicated by the club. 
 

I’m guessing ‘the owners will continue to fund the losses’ line will be trotted out. 
 

That clearly isn’t an adequate response so also looking forward to seeing how the Supporters groups respond. WATR said they would reevaluate their stance after Aug 20th as I recall.

The kicking of the can down the road can’t go on forever.

[lraC]

3 minutes ago, Forever Blue said:

If true that it has been delayed, then I’m looking forward to how this will be communicated by the club. 
 

I’m guessing ‘the owners will continue to fund the losses’ line will be trotted out. 
 

That clearly isn’t an adequate response so also looking forward to seeing how the Supporters groups respond. WATR said they would reevaluate their stance after Aug 20th as I recall.

The kicking of the can down the road can’t go on forever.

We will no doubt get the same from Waggott, they can fund us without impediment and a request for funds has gone in.

To my knowledge, nothing has been sent since November, so it will be 12 month's by the time the next hearing comes and goes, so beyond that, what happens.

As you say, hopefully the trust will now step forward and get some proper answers. 

[Mercer]

What a nonsense.

Rovers could be in serious financial trouble here considering Wharton was seemingly sold to keep the lights on particularly if VLL recall their loans or part of.

Rovers' directors will need to be mindful of being held liable for wrongful trading should they know Rovers unlikely to avoid insolvency or administration.  Deferment until November, at the earliest, is going to put further strain on cash and I fear if it moves it will be sold! 

[Mashed Potatoes]

1 minute ago, Mercer said:

What a nonsense.

Rovers could be in serious financial trouble here considering Wharton was seemingly sold to keep the lights on particularly if VLL recall their loans or part of.

Rovers' directors will need to be mindful of being held liable for wrongful trading should they know Rovers unlikely to avoid insolvency or administration.  Deferment until November, at the earliest, is going to put further strain on cash and I fear if it moves it will be sold! 

Why would VLL call their loans in ?

[wilsdenrover]

The last hearing to go ahead was November 2023.

A whole year of fuck all progress. 

[Mercer]

2 minutes ago, Mashed Potatoes said:

Why would VLL call their loans in ?

Why wouldn't they?

Who knows where this Indian court case will end and what the outcome may be - I think it's quite clear it is far from routine.

The Raos may think feck this, let's get out what we can from our £200million.

[TheRevAshton]

Can kicked down the road, as expected.

Watch it also take 5/6 days at the very least, for the Club to bother commenting on it.

What a piss take. We as fans absolutely do not deserve this.

[phili]

33 minutes ago, RevidgeBlue said:

At this point after 2 postponements if the owners were serious about doing the right thing by the Club they'd settle the case out of Court and pay some sort of financial penalty.

If they believe they're in the right and are intent on fighting the case on principle however this could drag on more or less indefinitely. We're obviously right at the bottom of the Court's list of priorities.

The Indian tax authorities do not offer out of court settlements for Fraud and Money Laundering which they are being investigated for. When under investigation, Indians Individuals and Companies are not allowed to send funds overseas without permission. The Indian tax authorities have rejected permission and Venky's have gone to court again for permission to send funds.

There is no possibility of an out of court settlement. Also the tax authorities have a 98% success rate when they charge somebody in India.

[all you need is duff]

We’re currently 7/1 to go down with Skybet. I don’t think they realise how likely it is that Jake Batty and James Edmondson are starting games by November 

[sverrehh]

3 minutes ago, Mercer said:

Why wouldn't they?

Who knows where this Indian court case will end and what the outcome may be - I think it's quite clear it is far from routine.

The Raos may think feck this, let's get out what we can from our £200million.

Is Rovers worth 200 million?

[Silas]

Appreciate the club's future may be at stake, but am I allowed to chuckle at people spending hours watching a livestream of the WRONG Court.

Can just imagine the tech team thinking this is weird, there's tons of people logged on from the UK watching these random cases from Hyderabad. 😂

[RevidgeBlue]

Organisations like the Trust and Fans Forum absolutely have to step up now and not let Waggott get away with any more crap whatsoever along the "This doesn't affect our day to day operations" line.

Obviously it does. Over the last 12 months we've been selling anything of any value, scuppering high value incoming deals and not reinvesting in the team whereas before these particular financial difficulties the owners were (commendably imo) quite happy to risk the likes of  Rothwell and Brereton walk for nothing in the hope that by keeping them they'd fire us to promotion.

Edited August 20 by RevidgeBlue

[J*B]

1 minute ago, Silas said:

Appreciate the club's future may be at stake, but am I allowed to chuckle at people spending hours watching a livestream of the WRONG Court.

Can just imagine the tech team thinking this is weird, there's tons of people logged on from the UK watching these random cases from Hyderabad. 😂

One-hundred percent, its fantastic. I spent hours watching the wrong court case, including a pretty heated discussion about the number of computers in a nursery school. 

[RevidgeBlue]

2 minutes ago, phili said:

The Indian tax authorities do not offer out of court settlements for Fraud and Money Laundering which they are being investigated for. When under investigation, Indians Individuals and Companies are not allowed to send funds overseas without permission. The Indian tax authorities have rejected permission and Venky's have gone to court again for permission to send funds.

There is no possibility of an out of court settlement. Also the tax authorities have a 98% success rate when they charge somebody in India.

Interesting. Thanks.

"It's worse than that - She's dead Jim, dead Jim, dead".

[lraC]

4 minutes ago, phili said:

The Indian tax authorities do not offer out of court settlements for Fraud and Money Laundering which they are being investigated for. When under investigation, Indians Individuals and Companies are not allowed to send funds overseas without permission. The Indian tax authorities have rejected permission and Venky's have gone to court again for permission to send funds.

There is no possibility of an out of court settlement. Also the tax authorities have a 98% success rate when they charge somebody in India.

If only a certain Mr Waggott knew that, or at least acknowledge it, instead of constantly muddying the waters and claiming everything is fine.

[roversfan99]

31 minutes ago, RevidgeBlue said:

Over the years they do seem to have had intermittent periods where they have  splurged loads of cash and others when the taps appear to have been turned off.

This feels slightly different now though, like a concerted effort to sell anything of any value and until the next player "does a Szmodics" and improves out of all recognition they appear to have more or less completed the task.

To be fair, I did say "If" not "They will".

They had one summer when they splurged a decent sum on Brereton and Armstrong. Otherwise, im struggling to remember many other splurges.

[Exiled_Rover]

46 minutes ago, RevidgeBlue said:

At this point after 2 postponements if the owners were serious about doing the right thing by the Club they'd settle the case out of Court and pay some sort of financial penalty.

If they believe they're in the right and are intent on fighting the case on principle however this could drag on more or less indefinitely. We're obviously right at the bottom of the Court's list of priorities.

I wonder if they're actually allowed to settle this out of court / sell the club. I'd be surprised. 

[J*B]

7 minutes ago, phili said:

There is no possibility of an out of court settlement. Also the tax authorities have a 98% success rate when they charge somebody in India.

Whilst I don't doubt this, can we get a fact-check on this? Can you provide a source? 

[Silas]

4 minutes ago, J*B said:

One-hundred percent, its fantastic. I spent hours watching the wrong court case, including a pretty heated discussion about the number of computers in a nursery school. 

Sums up the desperation of the situation and the mindset of football fans.

How many did they end up with?

Or did that get adjourned too! 

[Waggy76]

9 minutes ago, RevidgeBlue said:

Organisations like the Trust and Fans Forum absolutely have to step up now and not let Waggott get away with any more crap whatsoever along the "This doesn't affect our day to day operations" line.

Obviously it does. Over the last 12 months we've been selling anything of any value, scuppering high value incoming deals and not reinvesting in the team whereas before these particular financial difficulties the owners were (commendably imo) quite happy to risk the likes of  Rothwell and Brereton walk for nothing in the hope that by keeping them they'd fire us to promotion.

In my opinion , letting Rothwell ,Brereton etc leave on frees was just another way for them to dismantle the club . 

They , knew exactly what they were doing !

Like todays court hearing , they knew it would be adjourned til later in the year ...

 

[jim mk2]

12 minutes ago, phili said:

 

. Also the tax authorities have a 98% success rate when they charge somebody in India.

If that figure is correct then is the outcome is not virtually done and dusted and there's little point in continuing the debate? 

Either way, from a transfer point of view it would appear to me that's the end of any more incomings this window. As has been stated, it'll be more high earners leaving the club to reduce the wage bill and battening down the hatches on costs for the season

[Moptop1]

So, when are the club going to release a statement? The fan groups now need to call a meeting asap to discuss.

Fan Groups over to you…