[nitin_asce]

For dividend, it looks to me it is artificially created issue.

I raised an complaint on scores let’s see what is the result.

Anybody who want an official response on purpose of PW and dividend can raise their complaint on scores

[Logan]

@nitin_asce, please check my post #10373. In that I’ve shared a link wherein it says that dividends usually will be credited within 30-45 days after the record date. If we take 45days then it should be credited by 4th February but in the annual report it’s mentioned that it will be paid on or before 25th Jan.

Which date should we consider? If it is indeed 45 days then why did the company mention it will be paid on or before 25th Jan?

Which of these days/dates will SEBI consider?

Please share your opinions on this.

[nitin_asce]

@LOGAN i would consider taking information from annual report.

If information is wrong than annual report needs to be updated else it is a case of misguided investors.

[vgsatwork]

@ Logan
We need to take 28th Dec 2020, when the AGM resolution for dividend was passed as the date of declaration and from that date, it should get paid in 30 days. Annual report mentioned 25th Jan, which is 29th date from this date. This may possibly because 26th Jan is declared holiday.

By all counts they have defaulted on their commitment now..

Posting this link (based on company law on distribution of dividend) from one of my earlier post..
https://taxguru.in/company-law/declaration-payment-dividend-companies-law.html

One more link from Ministry of Corporate Affairs on the same topic..

http://mca21.gov.in/SearchableActs/Section127.htm

[Rathi_b]

They have defaulted and have chosen to remain silent now. Looks like they have turned a deaf ear to our queries. I don’t know what is going on right now but yes looks like they have gone back again on their commitment. Looks likely that we won’t be getting dividend even by 4th. I just don’t understand man, are all these games being played to get the warrants issue done? SKR needs to own up to this. Such a pathetic situation we are in right now,looks neither the exchanges nor the management are really bothered to get it done. I just can’t understand how long will they prolong this issue.

[buffet]

Any way we can check or ask exchanges to expedite the warrant approval for the sake of dividend payment. I know it is a big ask. At least, there has to be some way to track PW approval status.

[vgsatwork]

@Rathi_b

I don’t think PW and dividend are related at all. Reason being the record date for dividend payment was 21st Dec and whoever was holding BCG shares as of that date should get the dividends, no matter when the payouts actually happen. Non payment of dividend is not an option either since it could land them in jail. Also, by holding on to dividend payment there is nothing that they can achieve in terms of their PW approved by the exchanges or authorities.

Only scenario that I could think of is to let the shareholders believe that the company is not in a position to pay the dividend and become panic and sell out so that some of the operators can pick up the stock. But that would become a price manipulation issue, if the same gets reported, which is much more serious offense and they might as well forget about getting the PW approval from there onwards and would land them into legal trouble.

So, rationally i could not think of any reasons as to why company is delaying the dividend payment.

[sandyc316]

Not sure, but is it possible that all resolutions passed in the AGM are approved together by exchanges and since it’s taking time for an approval for the warrants, the approval for dividend is also stuck?
Haven’t had such experience with non-payment of dividends with any other company so my mind is trying to conjure some explanation I guess!

[rpm87]

On reading Section 124 of the Companies Act 2013 (listed below):
124.
Unpaid Dividend Account
(1) Where a dividend has been declared by a company but has not been paid or claimed within thirty days from the date of the declaration to any shareholder entitled to the payment of the dividend, the company shall, within seven days from the date of expiry of the said period of thirty days, transfer the total amount of dividend which remains unpaid or unclaimed to a special account to be opened by the company in that behalf in any scheduled bank to be called the Unpaid Dividend Account.
(2) The company shall, within a period of ninety days of making any transfer of an
amount under sub-section (1) to the Unpaid Dividend Account, prepare a statement containing the names, their last known addresses and the unpaid dividend to be paid to each person and place it on the website of the company, if any, and also on any other website approved by the Central Government for this purpose, in such form, manner and other particulars as may be prescribed.

(3) If any default is made in transferring the total amount referred to in sub-section (1) or any part thereof to the Unpaid Dividend Account of the company, it shall pay, from the date of such default, interest on so much of the amount as has not been transferred to the said account, at the rate of twelve per cent. per annum and the interest accruing on such amount shall enure to the benefit of the members of the company in proportion to the amount remaining unpaid to them.

Based on my understanding of the above, technically a delay is possible without much problems to the founders. This could be to allow time until the PW are approved. For all the twists and turns, this guy has taught me quite a bit about the stock market and the Companies Act. Hope everything goes well with everyone!!!

[hw_tw]

Scientists Have Taught Spinach to send Emails and it could warn us About Climate Change

https://www.euronews.com/living/2021/02/01/scientists-have-taught-spinach-to-send-emails-and-it-could-warn-us-about-climate-change

[sac6310]

@rpm87 i think this policy is for those holders to whom dividend has not able to process/credited. here, not a single shareholders had received any yet.

[Shivashankar]

Guys ducon infratech got clearance from BSE and NSE (warrants) yesterday their voting date was 24/12/2020.bcg may get clearance with in one week time.

[bhalothia9]

Good thing is that now average share price is staying above 5, whereas in 2019 it was around 4 I guess, so slowly and steadily we will see BCG back to where it belong.
Another positive seen is that the Number of publishers who authorise brightcom have increased significantly in last one year, from 2.4 to 4.4 now, as seen on Adauth. So lets be Happy with what we got and hope for best.

@Admin Jee, I believe we should capture statistics from Adauth every month, this will help check progress over time.

[drjaysee]

Dear Admin and all BCG Friends, Yesterday night I have sent an email to BCG IR (brief of my email is as follows);

Dear Brightcom Group IR Team,

Greetings from XXXX and currently holding XXXXXXX quantities of BCG.

My Credentials are as follows:

Name: XXXX

DP ID: XXXXX

With reference to your Dec 2020 Annual Report point no 7, Page 9.

“7. The Company has fixed Monday, December 21, 2020 as the ‘Record Date’ for determining entitlement of members to receive final dividend for the financial year ended March 31, 2020, if the same is approved at the AGM. Payment of Final Dividend, as approved, shall be subjected to deduction of tax at source, and the net dividend, will be paid to eligible shareholders on or before January 25, 2021”.

Until now, the dividend is not yet credited and also there was no intimation / justification given by BCG Management which is legally not acceptable and it may destroy the reputation & potential of BCG.

Kindly either update your Dec 2020 Annual Report with revised Dividend date & update at BSE Website or any kind of official press release from BCG in this regard would be highly appreciated.

Looking forward to hear from you before I take any kind of legal procedure.

Thank you very much for your understanding.

Best Regards,
Name: XXXXXX
Mobile: XXXXXXX

—-
I have received a reply from the management through “whatsApp message” (I don’t think its appropriate to disclose the identity of a personnel at the open forum).
Good morning Mr XXXX
I saw you email. Wanted to chat.
There was a hiccup in the dividend account setup due unforeseen circumstances. We are working diligently to set that right sir.
Just a few days all should be well.
We are unhappy that it upset a lot of shareholders as well.
I wanted to personally reach out to you.
Hence the ping…
—-

Even though the reply was not satisfactory with regards to “dividend account setup” but I would conclude from his reply that something good may happen soon and almost all the outstanding issues are in the final stage (or already sorted out / they have got some of the approval and just waiting for the PW approval from exchange).

Now we may indirectly guess & link this reply with Hyderabad Team’s (Special thanks to Rathi_b & Team) reply and stay with full hope & trust. Personally I believe that it’s a matter of time and BCG should show its real value soon if the promoter is really serious on their business. I am 100% positive on BCG’s potential & growth path in the forthcoming days which is not too far (any time we may expect the unexpected). Best wishes & Thank you all.

[explorer]

Guys, Let us be cautious in passing unofficial information coming from officials. If dividend account setup was the actual issue, it should have come through the exchanges. Management will do such things only if they don’t want be held accountable for what they are telling. Doesn’t mean the person passing the message is lying. But possibly management is using some of us as messengers to pass wrong information. Just be careful and don’t take anything that’s not through exchanges at face value.

[Raj]

Dear explorer, what do you mean by the term “cautious”?.. Are you trying to say something to investors? I mean to sell..

[drjaysee]

Dear @explorer, kindly may I know the meaning of your message here?. I know very well that his reply of “dividend account setup” is not appropriate & he don’t want to disclose the internal development or damage but I have clearly mentioned in my email as well as during my chat with him that “official information/justification” should be given to all shareholders either through press conference from BCG or update on the exchange. Let’s wait for their action in this regard and I have clearly mentioned that I may intend to initiate legal procedure against BCG if they failed to do that. Hence, now it’s purely our decision by individual to stay with patience or react. Besides, I believe that at one point in time we should trust each other within our BCG Investor Forum members and travel together with unite & patience to find out the appropriate way for the best outcome. Thanks.

[vgsatwork]

@drjaysee

Thanks for the update. The delay in dividend payment is not the problem here. It is the communication from the company to the shareholders about the same. If there is any genuine issue due to which they cannot stick to the timelines, they should have come forward and informed the shareholders through exchanges and that is how they can build their credibility.(Disclosing unpleasant news as well and showing that they are being transparent)

My problem is till date they have not said a word about this dividend and PW status to investors through update to stock exchanges. Unlike the common say that no news is good news, w.r.t markets no news is bad news and that is the problem the management needs to recognise and address

[Sobha]

Thanks @drjaysee for the update. Your update goes in tune with our already formed opinion….. The management will pay dividend little later….

The reason they explains is a lie.. Many friends reported that fund has not been paid to Arti for dividend payment. So it is not a question of hiccup in account. But the promoter might have expected the warrant approval before 25th. There is a small hiccup there. It is becoming little late. Till then they have to keep price around 7.

We have to see that the sole beneficiary of price suppression now is the promoter. So long as that remains, no scope of price appreciation. Some or other tricks will be played till then. Let us expect the the warrants will be approved soon and issues will turn to better side.

We have got a corrupt promoter. But there is no point in complaining. Because we are complaining to a more corrupt authority. That will yield nothing.

[Saach]

@Sobha! with due respect to you, my humble request and will appreciate it if you could please avoid to give your judgement on the character of the Promoter(s)! Are the having any proof to address someone like this? If not then please do not express your such comments on anyone. My regards.

[Author]

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