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Khushroo N Dhunjibhoy May Lead Royal Western India

By Turf News | 11-Sep-2017
An unexpected split within the Vivek Jain-led ruling faction at the Royal Western India Turf Club could pave the way for senior committee member Khushroo N Dhunjibhoy to become the managing committee's chairman at the club's 102nd Annual General Meeting (AGM) to be held at the Mahalaxmi Race Course today. There are eleven candidates including Zinia Lawyer and Ashwin Mehta in the fray this year.It is reliably learnt that, from among the group of seven candidates excluding Jain and his three team members, a consensus has emerged in favour of electing Dhunjibhoy as the club's chairman. If elected to lead the club, Dhunjibhoy will get to serve in this position for the eighth time.

This development was the direct fallout of previous committee members Geoffrey Nagpal, Gulam Vahanvaty and Milan Luthria's decision to part ways with Jain and Champaklal Zaveri towards the end of the last Mumbai racing season.

The AGM starts today at 11 am and all those members who have not opted for the remote e-voting facility will be eligible to cast their vote through electronic voting (Instapoll) at the venue till 7 pm following which the results will be declared late in the evening. Earlier the e-voting facility for the ninemember managing committee was thrown open for three days on September 8 and was closed yesterday.

Mehta, one of the eleven candidates for the committee's post, has already been declared elected unopposed to the club's Board of Appeal (BOA). Another BOA member Shivlal Daga and Mehta retired from the appeal board on rotation this year and were eligible for reelection. Both were elected unopposed as the club did not receive any nominations for the two posts for the third year in succession.

Courtesy - mumbaimirror
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3 Replies

Reacher said ...

12-Sep-2017
RWITC is a closely held company and its shares can never be bought in the market. In fact there are no shares, strictly speaking, because it is a company limited by guarantee. Technically it is a perpetual company like a section 25 company like BC C I. Whenever, they need money desperately they can tap the rich members. Otherwise, it runs on monies of others like owners who pay for entries, bookies who run their business taking money from punters and punters who pay from entering, for holding mobiles and finally end up losing their monies.Besides, the club makes money on non horse business, like holding lavish weddings of Richie riches and restaurants. Of course, periodically, they have to take care of the BMC for renewal of their license, besides the Authorities in Pune for running the business there. Earlier, they used to earn money by lending to Corporates like parabanking and now they are investing their surpluses in Mutual Funds. It is a business like Uber and Ola, not owning any horses but make money from racing them. However, membership can be passed on down generations without holding any assets.

Praveens said ...

11-Sep-2017
I am from Hyderabad so this subject is not relevant. For punters and Race clubs across India GST is most important issue. I think All Club members should go to Supreme Court to get relief from GST. Because in a year all clubs will be on ventilators.

Blockbuster said ...

11-Sep-2017
Mr. Dhunjibhoy is very much required to prevent any further decay of the club. Hope the club comes under his stewardship.