New Venky’s Tax Twist

Wednesday, 6 September 2023

The luxury Lancashire home that is the English base of the Venkys family is at the centre of a major tax probe in India.

The Blackburn Rovers owners bought the huge property Alexander House from Gary Neville at a whopping £7.4 million after taking over the club.

Now the Indian tax authorities have looked into the funding of the purchase via a loan paid off through the Venkys company in London.

The Indian state are unhappy with the money leaving the country from the massive chicken and agricultural concern based in Pune. After claiming that the money was sent to England to expand their business it was discovered that the cash sent had partly gone to paying for the mansion in Lancashire.

The probe goes back at 2011 and the tax authorities have now seized properties worth an equivalent value in India.

Venkys have spent millions on Blackburn Rovers since taking charge but that will now be cut by the Indian tax laws.

However the historic case will cause Venkys financial pain as the dispute rages on.

 Story courtesy of Alan Nixon @reluctantnicko.



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