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

[wilsdenrover]

13 minutes ago, Sweaty Gussets said:

1) Rovers have taken a loan out with Crossbaron (whoever they are) for unknown reasons - possibly cashflow problems relating to the Indian govt issues.

2) In order to repay the loan Rovers now pay the rent on Brockhall to Crossbaron instead of Venky's.

 

Is that basically what's happening here?

I think so but I’m far from certain.

[JHRover]

1 Hillside and 2 Hillside are a couple of large houses that directly overlook the academy site. They used to house academy players and had resident staff there to look after them.

Last I heard they no longer had players staying there and might have been occupied by staff members.

Not sure what Ribbleview is but assume it is another house they own down there.

[oldjamfan1]

8 minutes ago, wilsdenrover said:

This is everything the loan is secured against - anyone have any idea what the other three are?:

 

It is three houses owned by the club. Presumably for staff.

[wilsdenrover]

Does anyone know what other assets Venkateshwara London Limited owns?…

[Sweaty Gussets]

Anil Pitalia - Bolton, England, United Kingdom | Professional Profile | LinkedIn

[tomphil]

So presumably Venkatashwera London will now lend money to Venkys London Ltd to use for the club ?

Or is it Venka raising money for something else ?

[wilsdenrover]

18 minutes ago, tomphil said:

So presumably Venkatashwera London will now lend money to Venkys London Ltd to use for the club ?

Or is it Venka raising money for something else ?

Rearranging the deckchairs on the Titantic…

Edited October 24, 2023 by wilsdenrover

[Dreams of 1995]

18 minutes ago, tomphil said:

Venkateshwara London

Which is different than Venkys London that owns the club.

But Venkateshwara London Ltd is the company that owns the freehold for the STC.

Personally I find this all quite worrying. It seems like a plan "at large"

The reason that the directors of Crossbaron all have so many ltd companies is because they will create a new company for each development they do. This protects their assets. If they decide to build on Brockhall they would most likely create a "Brockhall Developments Ltd" or whatever. It is very common in construction development

It seems for all the world this is a plan to lose the training centre. The law of the land says that if we don't pay Crossbaron they will own the STC. They will then be able to do whatever they want with it. The truth is that they won't care as much about public opinion as an owner of a football club might

I honestly feel like this is the second step in the direction of stripping the STC as an asset from Venkys and ultimately Blackburn Rovers Football Club. The first was selling the training ground, for which we have not yet received a penny but have paid rent

[lraC]

Venkateswara London Limited (company number 13452736) have 2 current Directors, namely Prashan Laxman Gomashe and Ketan Shrikant Ranade, both of them are Indian. The do not seem to be directly related to Venky's. 

The charge of the training ground has been placed by Crossbaron Limited, whose two directors are Anil Kumar Pitalia and Asha Pitalia, who are both British. Their address is listed as 25 Chorley new road Bolton.

 

 

13452736

[Sweaty Gussets]

Well, that's Maguire's response fwiw. 

[wilsdenrover]

4 minutes ago, lraC said:

Venkateswara London Limited (company number 13452736) have 2 current Directors, namely Prashan Laxman Gomashe and Ketan Shrikant Ranade, both of them are Indian. The do not seem to be directly related to Venky's. 

The charge of the training ground has been placed by Crossbaron Limited, whose two directors are Anil Kumar Pitalia and Asha Pitalia, who are both British. Their address is listed as 25 Chorley new road Bolton.

 

 

13452736

 

Edited October 24, 2023 by wilsdenrover

[Tyrone Shoelaces]

23 minutes ago, lraC said:

Venkateswara London Limited (company number 13452736) have 2 current Directors, namely Prashan Laxman Gomashe and Ketan Shrikant Ranade, both of them are Indian. The do not seem to be directly related to Venky's. 

The charge of the training ground has been placed by Crossbaron Limited, whose two directors are Anil Kumar Pitalia and Asha Pitalia, who are both British. Their address is listed as 25 Chorley new road Bolton.

 

 

13452736

At least we know where to go now.

Edited October 24, 2023 by Tyrone Shoelaces

[Tyrone Shoelaces]

Just now, wilsdenrover said:

 

Is he still in the 6th form ?

[wilsdenrover]

2 minutes ago, Tyrone Shoelaces said:

Is he still in the 6th form ?

Born April 1987…

[lraC]

5 minutes ago, wilsdenrover said:

 

I suspect the director's of Crossbaron Limited, will also have some sort of a connection too.

[wilsdenrover]

6 minutes ago, Tyrone Shoelaces said:

At least we know where to go know.

In case it helps you find it…

[tomphil]

9 minutes ago, Dreams of 1995 said:

But Venkateshwara London Ltd is the company that owns the freehold for the STC.

Personally I find this all quite worrying. It seems like a plan "at large"

The reason that the directors of Crossbaron all have so many ltd companies is because they will create a new company for each development they do. This protects their assets. If they decide to build on Brockhall they would most likely create a "Brockhall Developments Ltd" or whatever. It is very common in construction development

It seems for all the world this is a plan to lose the training centre. The law of the land says that if we don't pay Crossbaron they will own the STC. They will then be able to do whatever they want with it. The truth is that they won't care as much about public opinion as an owner of a football club might

I honestly feel like this is the second step in the direction of stripping the STC as an asset from Venkys and ultimately Blackburn Rovers Football Club. The first was selling the training ground, for which we have not yet received a penny but have paid rent

That's what i was thinking, that this is just finally completely separating the training ground from the club.

Eventually it'll have to be moved off there which would probably help the application for planning in the long run.

[Tyrone Shoelaces]

13 minutes ago, wilsdenrover said:

In case it helps you find it…

Mm, very nice.

[wilsdenrover]

Brockhall can’t be developed on without Crossbaron’s consent:

 

I wonder if that consent would be granted if Crossbaron (or an associated company) were to be the developer used…

 

 

 

 

 

[Mashed Potatoes]

29 minutes ago, Dreams of 1995 said:

But Venkateshwara London Ltd is the company that owns the freehold for the STC.

Personally I find this all quite worrying. It seems like a plan "at large"

The reason that the directors of Crossbaron all have so many ltd companies is because they will create a new company for each development they do. This protects their assets. If they decide to build on Brockhall they would most likely create a "Brockhall Developments Ltd" or whatever. It is very common in construction development

It seems for all the world this is a plan to lose the training centre. The law of the land says that if we don't pay Crossbaron they will own the STC. They will then be able to do whatever they want with it. The truth is that they won't care as much about public opinion as an owner of a football club might

I honestly feel like this is the second step in the direction of stripping the STC as an asset from Venkys and ultimately Blackburn Rovers Football Club. The first was selling the training ground, for which we have not yet received a penny but have paid rent

How do you know we haven't received a penny for the sale of the training ground ?

[wilsdenrover]

7 minutes ago, Mashed Potatoes said:

How do you know we haven't received a penny for the sale of the training ground ?

Doesn’t the below suggest circa £11 million has definitely been received by the club - and the ‘final payment’ of circa £6 million should have been received by June?

Edited October 24, 2023 by wilsdenrover

[Mashed Potatoes]

6 minutes ago, wilsdenrover said:

Doesn’t the below suggest circa £11 million has definitely been received by the club - and the ‘final payment’ of circa £6 million should have been received by June?

Yes, that looks right.

[tomphil]

I think it's safe to say it was way over valued and the money received is probably a reflection of the real value ?

 

[wilsdenrover]

1 minute ago, tomphil said:

I think it's safe to say it was way over valued and the money received is probably a reflection of the real value ?

 

It would be interesting to know the value without the assumption of planning consent being granted.

[Dreams of 1995]

16 minutes ago, Mashed Potatoes said:

How do you know we haven't received a penny for the sale of the training ground ?

Think it was in our last set of published accounts that the money was outstanding

If some has been paid, fair enough. Either way, it is a horrendous transaction for BRFC