[nitin_asce]

@logan the annual report has also come few days back. Can you put your views on the same please.

[Raj]

Annual report 19-20, one can ignore. 20-21 will be interesting to see..

[Logan]

@nitin_asce, compared to last year’s AR this year’s looks far better. They’ve given more information on the business, company structure, it’s history etc but they’ve ignored to give complete details on many items on the balance sheet like other assets, loans and advances, other receivables etc.

We requested them to make the annual report as informative as possible but they took only half of our request.

[Investor_2022]

@Logan, I have noticed that this is the first time (after 2013-14) they have mentioned Jacob Nizri and Brad Cohen’s names in management team.
I have checked previous 4-5 years annual report in which they were not mentioning their names.
Last one, they mentioned their name in 2013-14 report.

[odysee]

@rathi_b, just wondering if you and your investor colleagues plan another visit to meet up with SKR this month. Not sure if that could take place before the ‘getting’ of the LOC by BCG or after our ‘giving’ the NOC for the Warrants to be issued by BCG.
One question that you should definitely pose is on the pricing of this mammoth gift ( or issue if that sounds more diplomatic) of 34 crore warrants ( and shares) at Rs 7.70 each, when the company earns over Rs 9 per share in a single year.
Logan had posed a question on Saturday last as to why this proposal was at all necessary as the granting of the LOC ( which was imminent) would have resolved most outstanding issues including funds required for growth. I agree with him.
And you had confirmed post your last visit to the BCG office, that indeed the LOC was almost done. And SKR then further indicated that the documents for the first tranche of funds from the LOC were submitted.
And now suddenly this whole new saga of a massive dilution at a ridiculously low price, which will definitely adversely impact all the long term investors. And not a whisper in all these months of this form of fund raising.
I cannot comment on new entrants to this stock, but seriously, how many of the ‘older’ long term investors have made any returns on their investment? Ever? In the last 5 years? Hopes were always kept alive-an eps of Rs 9, book value of Rs 55, consistent performance quarter after quarter. And the icing on the cake was a great conference call where we would eat up every word that was uttered, and come away feeling warm and satisfied. The pot of gold at the end of the rainbow was just around the corner.
Sadly, a dream is just that- a dream.
On a more serious note, it would really be instructive for all of us on this forum if you did get another opportunity to interact with Mr Reddy, so we could understand better the strategy behind this decision, and the likely revised prospects of the business of BCG as well as the settlement of outstanding issues within a defined time frame.
Very grateful to you and the other investors who took the initiative to directly interact with the management.

[buffet]

@odysee I concur with ur view. @rathi_b, @admin & others located @hyderabad- I humbly request if you could meet SKR & get an explanation. I don’t see any other way. Please help retailers.

The allotment of PW is huge. Nowhere SKR mentioned it’s coming. We all understand issues with BCG. But suddenly out of blue he throws googly at us. Ethical or unethical it’s debatable.

I am sure many would agree with me. It’s no secret – the stock is getting manipulated under his watch. We are literally stuck in this never-ending saga. Every time we have one or the other reason to believe in his reasoning(rather tantrums I would say) Almost he is getting away with everything. There is no savior for us including SEBI even complaint after complaint. [Note: I am invested in BCG since 8 years.]

Does IITs produce such talent who know nothing about business ethics & commitments? Lies after lie. Such is the misery of ours. Endless & it continues. What we as retailers can do? The irony is he is no longer accountable to anyone. Many of us have invested our life savings.

[Rathi_b]

We will try for a meet before the AGM.

[profile inactive, exited bcg]

@drjaysee Thanks a lot for sharing. Also, if you look at the annual report- for each of these companies, the names of ultimate beneficial owner is provided additionally.

Yes, the issue of share warrants is totally confusing. In the last concall, it was even mentioned that the money from LoC is more important for sorting existing issues than for growth. So when LoC is so near, and with no immediate requirement for additional funds, it is difficult to understand the purpose for issue of warrants. I really wish the company communicated to the shareholders on the reason for issuing share warrants, and the purpose of raising funds now.

[drjaysee]

Dear @Admin / @Logan, yesterday late night I have shared the Table of details about the Warrant allotted firms/concern directors which is publicly available at various websites / social media etc. I believe some of our friends had already gone through the same. But later I have realized that before authenticate the information it’s not appropriate to circulate the information in the public forum to avoid any conflict of interest. Kindly share your email ID and I will send the Table to you. You can very the same and later you may publish if you are comfortable with the details. Thank you

[odysee]

@buffet, maybe we should restrain ourselves from expressing our frustrations on a personal level re SKR, although the temptation is always there because of years of feeling let down. I too have vented on this forum, but realised that at the end of the day we have clung on to his coat tails, for better or worse, hoping he would lead us to the promised land.
The choice to invest and stay invested has been ours, although the flurry of presentations and positive news flow in the last few months was very seductive.
We should have all smelt a rat when in the August conference call he casually stated the the consolidation of the subsidiaries had been put on hold.
In reply to a direct question on the delay in getting the LOC, he said that he had anticipated receiving all clearances a few weeks earlier. But for some reason it was delayed and the BCG management was supplying additional information to the prospective consortium of lenders.
I would speculate that the process for this unfortunate warrants business begun around that time.
What has been especially disheartening is the fact that when he had the issue of 3.3 crore shares at Rs 10 each on a preferential basis, he had informed all shareholders in advance and given updates regularly until the issue was done.
And the full money of Rs 10 per share was paid up and received.
Now for an issue of 10 times that quantity, at a much lower price, where only Rs 1.92 has to be paid up front, we were left completely in the dark.
He could have considered a partial rights issue of the same warrants to existing shareholders at a lower price and the balance to outsiders at a higher price to maintain some semblance of equity and justice for the long suffering current shareholders.
And this is notwithstanding the controversy around the question of the issue being required or not in the first place.
Hopefully, @rathi_b and other stalwarts will get us some answers.

[vgsatwork]

Yesterday there was a block deal in NSE by Zuber trading (bought about 26 lakh share and sold 22.6 lakh shares on the same day for a profit of 9 paise per share) and the Zuber trading llp’s director is parth Bhavesh Zaveri, who is the designated partner of Sarita commossles LLP (#2 in the list of people who are going to be allotted preferential warrant). If this kind of day trader are going to get 5 crore preferential warrant, then god bless us all!!!

[hw_tw]

SKR has mentioned about investors lined up for Oak exit. I guess the speed with which this event happened gives me a feeling that these investors were actually lined up at that time but was not materialized for whatever reason. Anyway it doesn’t matter when these investors were lined up. What matters now is Why they were brought in. Is this

1/ For working capital of India or other country business
2/ To close Axis and Daum
3/ To handle Operators
4/ To bring in stable long term investors
5/ To expand business with new investors
6/ For change of ownership going in future or additional hands along with SKR, Vijay
7/ A mix of all or some of these

In my view it is for 3 and 4, though he might never disclose about 3

[JRS]

@vgsatwork

Yes, even My feeling “it is operator driven stock”….Well controlled by SKR by sharing inside information.

We all are speaking on fundamentals, here the game is different….He is playing Carrot and Stick policy, on one hand he is speaking on business and fundamentals on other side he is controlling stock price for benefit of operators. In this way he has divided the investors into two groups, where in we keep on debating.

He is using this emotions for his benefit, because one group shows positive attitude which invites investors and one group shows negative attitude which forces innocent investors to sell the stock in loss. Who benefits the traders like Zaveri.

I think SKR continues this till all the retail investors hand over their shares to his operators and exit completely.This show May continue another 4 to 5 years.

I think there might be some benefit to him in this trade(like commission)

However long term investors are facing the consequences.

I am thinking to exit this script if it reaches ₹9.Fed up!!!!

[JRS]

I am really thankful to Admin and the members of forum. It is because of you all there is continuous sharing of information and we are capable of understanding the intention of management, so that we new investors are safeguarded from the manipulation of operators and SKR.

[Shivashankar]

I think price will kept under this range untill e voting is done that is 27 of this month.after that it’s all depend on skr hand.i think he kept on hold Axis and loc first tranch untill e voting date.

[Logan]

We should talk about this Zuber Trading’s trades with the CEO. In AGM someone should raise this when they ask about the warrants topics.

[Raj]

Logan, It’s very unfortunate that the brain child for all this natak is done by our beloved CEO.. Its no brainer asking these questions and in turn he’ll act as if he’s unaware of wrong doings happening. Better to discuss on improvements..regards.

[Logan]

@Raj, we have proof that a company which is controlled by someone who is allotted the warrants is trading shares intra-day. This is not a good sign for stability of the share prices, he can’t ignore that.

We asked about G group and Oak but he didn’t answer because they were third parties but this person/company is directly involved.

[Raj]

@Logan, if the price traded was at decent levels, all the negativity would have vanished from the mc forum and there is no need to break your head on those guys…we shouldn’t bother too much on whats happening on Mc forum.. The CEO must be watching all this natak and He should come out with the updates in the warrants. Only God knows what happening..

[Rathi_b]

We have requested for a meeting with the management and we are waiting to hear back. Will update as and when any developments occur. Please put in all the questions and make a proper list to discuss in the meeting other than preferential warrants.

[Author]

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