Venky’s v Indian Government (a) - 13/1/2025 - Re-Arranged Challenge Match

[Crimpshrine]

10 minutes ago, Forever Blue said:

But you’re swallowing your mate Pasha’s statements 🤣 

 

Can you see the problem?

OK mate, no point continuing.

You won't answer any of the genuine questions I am putting to you and you just want a playground squabble.

If you change your mind and want to have a serious conversation send me a message. Thanks

[AVE1875]

Let's be honest, the reason they publicly release statements advising they're still invested in the club is because if they sell up the remuneration they get will likely be ceased by the Indian Government in some way or will sit in their UK company so it stays out of the Indian Government's jurisdiction (which is clearly just there for face value) where they won't be able to do anything with it as they can't breach the UK market.

That is the only reason I can believe, it is simply all smoke and mirrors. Claim they are invested yet haven't visited Ewood Park in years or done much in the form of smart business.

It will all come out in the wash should us fans see a change over of owners, when and if that ever happens.

[tomphil]

That's a fair point actually, if they sold it tomorrow for 25 mill and cut the losses how would they get that money back into India ?

Or more importantly back into their own pockets and not into the VH group accounts which would then surely be liable for a large wad of tax ?

As iv'e always said it's more suited to their group accounts to lose ten or twenty mill through the club, up until now of course. 

Selling it might be pretty pointless for a whole host of reasons seeing as they don't need the money personally and the hassle involved and potential skeletons mean they'd rather just leave it and ignore it whilst (up until recently) enjoying any tax perks it might have provided.

[lraC]

18 minutes ago, tomphil said:

That's a fair point actually, if they sold it tomorrow for 25 mill and cut the losses how would they get that money back into India ?

Or more importantly back into their own pockets and not into the VH group accounts which would then surely be liable for a large wad of tax ?

As iv'e always said it's more suited to their group accounts to lose ten or twenty mill through the club, up until now of course. 

Selling it might be pretty pointless for a whole host of reasons seeing as they don't need the money personally and the hassle involved and potential skeletons mean they'd rather just leave it and ignore it whilst (up until recently) enjoying any tax perks it might have provided.

I can't imagine for one minute they would be liable for any tax, as they loss would be eye watering.

[wilsdenrover]

13 hours ago, wilsdenrover said:

Me neither.

Also, if they could fund if it is pulled, why have the overdraft in the first place? 🤔🤨

Just to add to my own post.

i don’t know what the interest rate on the overdraft is now but until May’24 it was 2% above the above base rate.

What business would choose this over being funded interest free by their owners?

 

[Rogerb]

4 minutes ago, wilsdenrover said:

Just to add to my own post.

i don’t know what the interest rate on the overdraft is now but until May’24 it was 2% above the above base rate.

What business would choose this over being funded interest free by their owners?

 

One with owners they couldn't rely on.!

[wilsdenrover]

2 hours ago, Forever Blue said:

Yea, and you were told repeatedly that something had changed, hence the club informing us that there was no future impediment. This happened earlier than July. You refused to believe it, but produced no evidence to the contrary. 
 

You’ve now decided to believe Pasha, who is a prominent figure in the club you refused to believe a few months ago. 
 

 Very odd.

The most recent Venkys London accounts include the following wording (my emboldening):

‘if the court does not permit the release of future funds there will be a significant impact on BRFC’s ability to trade and therefore on the group remaining a going concern’

These accounts were signed off by the owners on the 9th July this year, therefore any change (if there really has been one) would appear to have taken place after this date.

Clearly not everybody at the club has been truthful - working out whether anyone has been in the tricky (impossible?) part.

 

Edited 37 minutes ago by wilsdenrover

[Forever Blue]

6 minutes ago, wilsdenrover said:

The most recent Venky London accounts include the following wording (my emboldening):

‘if the court does not permit the release of future funds there will be a significant impact on BRFC’s ability to trade and therefore on the group remaining a going concern’

These accounts were signed off by the owners on the 9th July this year, therefore any change (if there really has been one) would appear to have taken place after this date.

Clearly not everybody at the club has been truthful - working out whether anyone has been in the tricky (impossible?) part.

 

haha very convenient that pasha is now stating the changes to funding rules happened in July….just after the accounts were signed off. 

Edited 32 minutes ago by Forever Blue

[lraC]

2 minutes ago, wilsdenrover said:

The most recent Venky London accounts include the following wording (my emboldening):

‘if the court does not permit the release of future funds there will be a significant impact on BRFC’s ability to trade and therefore on the group remaining a going concern’

These accounts were signed off by the owners on the 9th July this year, therefore any change (if there really has been one) would appear to have taken place after this date.

Clearly not everybody at the club has been truthful - working out whether anyone has been in the tricky (impossible?) part.

 

It is in there for a reason and no doubt the accountants insisted on it.

The certificate of no objection seems to be the key to this, which I assume can only be issued, if a court hearing actually takes place.

From what I believe, we will run out of funds around April next year. 

[wilsdenrover]

5 minutes ago, Forever Blue said:

haha very convenient that pasha is now stating the changes to funding rules happened in July….just after the accounts were signed off. 

At least if he’s lying he’s making sure the backstory holds up 😁

[wilsdenrover]

5 minutes ago, lraC said:

It is in there for a reason and no doubt the accountants insisted on it.

The certificate of no objection seems to be the key to this, which I assume can only be issued, if a court hearing actually takes place.

From what I believe, we will run out of funds around April next year. 

Overdraft due for renewal in May next year…

[lraC]

1 minute ago, wilsdenrover said:

Overdraft due for renewal in May next year…

That could be a fun decision for the bankers, if they do their due diligence. 

[rigger]

1 minute ago, wilsdenrover said:

Overdraft due for renewal in May next year…

I wonder if season tickets will be on sale, at that time ?

[Forever Blue]

3 minutes ago, wilsdenrover said:

At least if he’s lying he’s making sure the backstory holds up 😁

🤣 exactly what I thought. They’ve covered more tracks than Seb Coe.