Glazers might be the most hated football club owner in the world and that too for such an extended period. They also have a humongous offer on table for selling their stake in Manchester United. They also don't show any interest in the on pitch success of the club. Not to mention the debt the club are in today.
But they are still not willing to leave Manchester United, why? Check out in this video:
Indian law enforcement and economic intelligence agency, the Enforcement Directorate (ED) has seized nine properties in India owned by Venkateshwara Hatcheries Pvt Ltd (VHPL), following allegations that the company made illegal foreign remittances since 2011.
VHPL is the parent company of Venky's London Limited, who own Blackburn Rovers.
The remittances were made to the company's subsidiary, Venky's Overseas Limited, and were disguised as payments for agricultural and mining activities.
However, the ED investigation found that no such activities were actually carried out.
The seized properties are worth an estimated INR 65.53 crore (around 7.3 Million Pounds). The ED has also frozen the bank accounts of Venkateshwara Hatcheries and Venky's Overseas Limited.
The company has denied any wrongdoing and said that it is cooperating with the ED investigation.
The club has issued official statements in this regard, which read:
“In response to recent speculation regarding its finances, the club wishes to reiterate that it has received all the necessary undertakings from the parent company, VHPL, as it always has done, to be able to meet its financial obligations for the foreseeable future, in satisfaction of all the regulatory requirements in this regard.”
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Glazers might be the most hated football club owner in the world and that too for such an extended period. They also have a humongous offer on table for selling their stake in Manchester United. They also don't show any interest in the on pitch success of the club. Not to mention the debt the club are in today.
But they are still not willing to leave Manchester United, why? Check out in this video:
2 years ago | [YT] | 0
View 0 replies
Context Football
What is happening with Blackburn Rovers?
Indian law enforcement and economic intelligence agency, the Enforcement Directorate (ED) has seized nine properties in India owned by Venkateshwara Hatcheries Pvt Ltd (VHPL), following allegations that the company made illegal foreign remittances since 2011.
VHPL is the parent company of Venky's London Limited, who own Blackburn Rovers.
The remittances were made to the company's subsidiary, Venky's Overseas Limited, and were disguised as payments for agricultural and mining activities.
However, the ED investigation found that no such activities were actually carried out.
The seized properties are worth an estimated INR 65.53 crore (around 7.3 Million Pounds). The ED has also frozen the bank accounts of Venkateshwara Hatcheries and Venky's Overseas Limited.
The company has denied any wrongdoing and said that it is cooperating with the ED investigation.
The club has issued official statements in this regard, which read:
“In response to recent speculation regarding its finances, the club wishes to reiterate that it has received all the necessary undertakings from the parent company, VHPL, as it always has done, to be able to meet its financial obligations for the foreseeable future, in satisfaction of all the regulatory requirements in this regard.”
2 years ago | [YT] | 2
View 0 replies