The Sun says Venky's indicated there would be around £5million to spend to bolster Rovers' survival push.
But their targets could not have been more different to those eyed by Big Sam.
He was keen on Tottenham's ex-Ewood Park favourite David Bentley - but the Indians fancied Brazilian crock Geovanni, who had just left San Jose Earthquakes.
Venky's held a meeting in India 10 days ago with their football advisors - sports agency Kentaro - and neither Big Sam nor chairman John Williams were invited.
Allardyce was alarmed to hear the kind of names being mentioned and made it clear they would not be players he wanted in his squad.