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


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1 hour ago, LeftWinger said:

I've been in touch with the editor of the India Today article. 

He would be interested in doing a fresh story regarding their investment in Blackburn Rovers.

He wants accurate details and numbers. 

Would any of the people with more knowledge on the specifics of their investment (in numbers) being interested in getting in touch with him?

Bump - please could someone help out.

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2 hours ago, Crimpshrine said:

So what do we do? Rely on Venky's forever?

At some point they will leave and the sooner the better so that we can start to rebuild. 

I don't know about you - but I would prefer a managed exit, so we can rebuild from a reasonable level, rather than caught in the tail spin of their financial problems.

It is amazing to think - if you rewound a few weeks everything was fairly settled. We had brought in three promising players (early), settled management team, and I think most were looking forward to the new season with a degree of optimism (irrespective of our owners). Now looks like chickens are coming home to roost for our owners (and by default us) and that optimism is quickly evaporating.

 

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5 minutes ago, DavidMailsTightPerm said:

I don't know about you - but I would prefer a managed exit, so we can rebuild from a reasonable level, rather than caught in the tail spin of their financial problems.

It is amazing to think - if you rewound a few weeks everything was fairly settled. We had brought in three promising players (early), settled management team, and I think most were looking forward to the new season with a degree of optimism (irrespective of our owners). Now looks like chickens are coming home to roost for our owners (and by default us) and that optimism is quickly evaporating.

 

Wasn't it Kammy who said that no matter how much better things get under Venkys disaster is always just one or two weeks away and that will always be the case.

Some of the wisest ever words spoken on here from someone who has dealt with some of them.

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2 hours ago, JHRover said:

 

If that is found to be the case I don't see how anyone can accept the club being funded in such a way. 

It was legal proceedings that brought down the Oystons at Blackpool and I've always expected this is the only way of getting this lot out of Rovers. Fingers crossed.

 

Most of their tenure hasn't been acceptable but no one has been able to do anything about it.

If the tax "fraud" has taken place in the UK there might be hope but if it's in India would it have any ramifications for their UK interests? I don't know but I think it's unlikely

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52 minutes ago, tomphil said:

They are never in 250 million years going to ask or expect their money back if they had to off load the club.

Every other ownership in similar situations has written off what they've spent that is their problem and not really an issue if you need to quickly cut further losses you are unable to pay.  The past money that isn't loaned and under repayment terms is gone spent null and void.

It's money going forward that is the issue so they'd need to find a buyer able to fund it in the medium term not one who is going to cough up what they've already spewed.   Did the Walkers try and hold out for  100 million ?   No it was just what the club and its assets at the time were valued at plus any external debt.

You know as well as I, the Walker family were desperate for cash so they could slip into the sunset, 

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Clearly it’s a tax issue in India NOT the UK. Looking at it with a wide angle many in here can cast their minds back to 2011-2014 when it was suggested that all events and happening at the time could have been considered dodgy! My thoughts are that IF they are found to have committed offences such like in India then someone is going to prison and for a good few years ! It might be in their interest to offload the club asap unless they have a solid defence or alternatively scapegoat who can take the blame

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3 hours ago, Crimpshrine said:

I'm a little confused.

The article claims that the problem is with Venky's Overseas Ltd dating back to 2011:

The ED had initiated an investigation in connection with the illegal remittances made by the company since 2011 by its subsidiary named Venky's Overseas Limited, UK.

But VOS Ltd was only created in 2023- based in Jersey.

Venky's London limited, which directly owns Rovers, was created in 2010 but didn't post any accounts until 2011.

Suspect it’s this company…

IMG_4162.jpeg

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42 minutes ago, TheKitGuy said:

You know as well as I, the Walker family were desperate for cash so they could slip into the sunset  Monaco 

Which proves the point that if you want or need rid due to circumstances beyond your control then past investment doesn't count for a lot.

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3 minutes ago, Herbie6590 said:

Suspect it’s this company…

IMG_4162.jpeg

If it is, it looks quite brazen. Just under five months of incorporation, then voluntarily struck off.

I suppose with Rovers, the case would be “we’ve been ploughing money into this thing to make it work, as it’s such an esteemed footballing institution. We’re just very bad at running it.”

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