IT WOULD APPEAR THAT ''THE POSTAL ORDER FROM AUNTIE'' WHICH COUNCILLOR EGERTON MENTIONS IN HIS EMAIL, MAY ACTUALLY TURN OUT BE FROM CORNWALL COUNCIL VIA HIMSELF.
HOW BIZARRE IS THAT?
THIS IS WHAT COUNCILLOR EGERTON HAD TO SAY ABOUT INOX THE LANGARTH DEVELOPER WHEN HE WAS DOING HIS JOB PROPERLY AS A WARD COUNCILLOR IN 2012.
SINCE THEN HE HAS MADE A SPECTACULAR U TURN IN A MANNER NOT DIS-SIMILAR TO COUNCILLOR TUDOR MORE RECENTLY WHICH SEEMED TO PRECEDE ELEVATION TO CHAIR OF THE STRATEGIC PLANNING COMMITTEE.
COUNCILLOR EGERTON'S EMAIL DATED AROUND THE 27th FEBRUARY 2012 TO ALL MEMBERS OF CORNWALL COUNCIL:
"Inox is the organisation that applied for planning permission for the Stadium for Cornwall and is also hoping to develop a large number of houses in that area. You may be curious to find out who Inox really are. There is a website www.inoxgroup.co.uk
In the section of the website entitled "Projects", there are 6 pages as follows:
Olympia, Glasgow Coming soon.
Truro, Cornwall Coming soon.
North Devon Coming soon.
Whitby, Yorkshire Coming soon.
Sandy, Bedfordshire Coming soon.
South Devon Coming soon.
Curious that there is no mention of projects that have actually been finished, or even started. The address for Inox Group is given as The Senate Building, Southernhay Gardens, Exeter. Nice prestigious address.
Although the Inox group has ambitions to deliver a £300 million build project in Truro, they are keeping their costs down by not taking a vast amount of office space on a long lease; instead, they are renting a serviced office from Forsyth Business Centre in that building.
This could be as little as a work station and a phone line. Very prudent.
In the section "About Us", there is wording on Our Vision, Our Objectives and Our Prospects, but no mention of any particular individuals or even of any particular limited company.
Inox Group is not a registered limited company, although there are a few registered limited companies with the word Inox in the title (more later).
Technically, it is an offence under the Companies Act not to display on a business website the name of the legal organisation, whether it be a sole trader, partnership or limited company that is responsible for the site.
In the case of a limited company this should include the proper registered name of the company and the registered number.
However, this is probably just an oversight and I expect that Devon Trading Standards have got more pressing issues on their desks to pursue.
Limited companies:
The title Inox Group is not specific as to what it encompasses. However, there are 3 limited companies with the first word:
Inox in their names that have The Senate Building, Exeter as their registered office address.
There is also Exemplar Projects (Truro) Ltd. at the same address.
Some information about these companies (all in the public domain at Companies House) is as follows:
Inox Property Ltd. incorporated 2008 last accounts up to 28/2/10 showed a net worth of minus £72k.
The following year's accounts have not yet been submitted and are marked in Companies House as "Overdue".
Inox Capital Ltd. incorporated 2010 with no accounts yet filed although accounts were due to be filed by 19/2/12, but Companies House has them marked as "Overdue".
Inox Capital Investment Ltd incorporated 2010 accounts to 30/6/11 filed and marked as "Dormant", i.e. no significant financial transaction had occurred in the period covered by the accounts.
Exemplar Projects (Truro) Ltd. incorporated 2009 accounts to 30/11/10 filed and marked as "Dormant".
Mr Robin Saltmarsh is a director of all four of those companies his fellow directors vary by company, but they all have the surname Saltmarsh.
Mr Robin Saltmarsh is also a director of Cornwall Community Stadium Ltd., the recently formed company that is the planned vehicle for the stadium project (co-directors are a Truro College employee and a person with a London address.)
Mr Saltmarsh is also a director of 5 other companies:
Moorlands (Whitby) Ltd.
Sustainable Projects (Sandy) Ltd.
Riversvale Ltd.
Ikona Developments Ltd.
122 Kew Road Ltd.
The accounts for the first two of those companies are marked as dormant the accounts of the other three are all marked by Companies House as "Overdue".
So, Mr Saltmarsh is a director of nine companies as well as the Stadium company of those nine companies, the accounts for four are dormant, the accounts for the other five are overdue in Companies House.
One could say that being late with the submission of one set of accounts is unfortunate; being late with two sets of accounts could be seen as careless; I am not sure what the right adjective is to describe being late with five sets of accounts.
Inox has promised to make a substantial financial contribution towards the Stadium project. (I cannot tell you how much they have promised because that was in part 2 of the Environment and Economy Scrutiny Committee meeting last week.)
The problem is that I do not know where the money is going to come from.
It certainly cannot come from within the balance sheets of any of the "Inox Group".
Perhaps they are waiting on a postal order from their auntie?"
End of Councillor Egerton's email.
UNFORTUNATELY ON COUNCILLOR EGERTON'S WATCH AS THE CURRENT PORTFOLIO HOLDER, IN CAHOOTS WITH MS KATE KENALLY, MR PHIL MASON AND MR JOHN BETTY IT LOOKS SUSPICIOUSLY LIKE THE MONEY TO BAIL INOX OUT WILL BE PART OF THE £600 MILLION OF ARRANGED BORROWINGS TO FACILITATE DEVELOPMENTS THAT THEY HAVE PERSUADED CORNWALL COUNCILLORS TO SANCTION.
YES THAT DOES SAY £600 MILLION WHICH CORNWALL'S COUNCIL TAXPAYERS WILL BE ULTIMATELY RESPONSIBLE FOR IF IT ALL GOES HORRIBLY WRONG.
THE SMALL MATTER OF CORNWALL COUNCILS EXISTING £2.2 BILLION AND GROWING DEBT MOUNTAIN IS CONVENIENTLY IGNORED ALMOST AS IF IT WERE AN IRRELEVANCE.
THERE IS AN AWFUL LOT HERE THAT SIMPLY DOES NOT ADD UP.
THE MORE SO GIVEN THE AUDITORS CONCERNS WITH REFERENCE TO £53 MILLION OF CONTRACTS SIGNED OFF WITHOUT PROPER AUTHORISATION.
IT WOULD BE VERY INTERESTING TO SEE IF ANY OF THIS RELATES TO LANGARTH VIA MR BETTY WHO HAS BEEN PREVIOUSLY MENTIONED IN DISPATCHES OF A SIMILAR VEIN.
Some observers’ comments:
“Correct me if I am wrong, but if as Cornwall Councillors told us at the Mass Protest against the destruction of Cornwall July 9th , 4,000 are moving to Cornwall every year (and I presume that's number of families/ households?), thats 40,000 over 10 years. What is the housebuilding target over that period? What % of that housing is therefore being built for those wishing to move here rather than those born here?”
“It smacks of sinister cynical social engineering because most of those houses you describe will be occupied by inward migrants who are already strangling our rapidly collapsing infrastructure.”
“It was actually 7,000 last year, net inward migration.
But as Bob Egerton puts it, we need to keep building all this shoddy Persimmon rubbish because he’d rather have people living here who actually want to be here and like it here!!
The man’s either a complete loony who’ll say anything to justify his mental actions (remember his other corker: it’s not new houses that creates the traffic and toxic air problems, because they don’t drive cars, people do!!), or he’s turned into a serious Cornish hating old man - à la Doris Ansari sauce - or the developers have managed to convince” him that 60,000+ new houses is a good thing for Cornwall. Did someone say ��?!”
“Are we really going to be paying through our noses for decades, to provide millions in free cash to the Saltmarsh & Betty family and friends holiday fund?!!”
“It all depends on whether or not they, like most councillors, are still under the hypnotic spell of John Betty, who seems to write out council tax funded cheques like sweets and without proper authorisation. First it was £2m - nice little earner for anyone - but now £53m?!!! No wonder auditors are seriously concerned about financial shenanigans at Lys Kernow.
Kate Kennally, as Cornwall council CEO who brought in John Betty, can you please explain?”
“Inox is Indian, the Inox Group was created in 1923. Inox Property is different, Inox seems to have its finger in so may places that looks like someones picked its name out to use. Inox Property, has one active director, one shareholder, has less than 10 employees and the names Mr Robin James Saltmarsh, Mrs Fiona Amber Luize Saltmarsh & Mrs Fiona Amber Luize Saltmarsh all pop up. Inox Group Uk is different from the more popular Inox Group India.
https://suite.endole.co.uk/insight/company/06500685-inox-property-limited
“The missing link is Marcell Venn who appears to be the big noise not mentioned in the Inox Companies House details... However he claims to be an Inox director who it has been alleged has resorted to using abusive and threatening behaviour toward some elderly Langarth residents whose properties were in the way of the Inox proposals... This is his picture... Any further background information would be most welcome.”
“Thank you for finding that but we must single-mindedly focus our efforts on the sham that is Inox's corrupt rotten involvement with Cornwall Council who have been daft enough to get sucked into the mire... The Indian company is not a subject of interest and would probably be appalled by the way their company name is being cuckolded.”
“Well it just goes to show the Council have no business sense whatsoever. A lunatic wouldn’t jump into bed with any of this Inox Saltmarsh nonsense to build a Wendy house, let alone some hundreds of millions worth of development. Fairplay to Mr Egerton in the begining but what major malfunction has he suffered to be swayed into the world of the insane.”
“Well one thing for certain sure our own home grown Inox house of straw is also big on gas and wind.”
“We are not journalists, we are ordinary working Cornish People sick and weary of the lies and malpractice that have dogged this misbegotten project from the outset... We are securely dug in and will not let this go... The truth will out despite the media ignoring what is going on.”
“As usual something stinks at Cornwall Kremlin Council”
“Do I smell a rat”
“you smell a rat alright, and I bet you can hear the money just dropping into the bank accounts of these corrupt men and women. They are laughing all the way to the bank, but I believe the tide is turning, they are not going to get away with it, the people of Cornwall have had enough, watch your backs boys and girls karma is just round the corner.”