February 1, 2021 at 7:27 pm #10380drjayseeRegistered Boarder
Dear @Rathi_b, thank you very much for you and the entire Hyderabad Team for your continued follow-up and tireless efforts in meeting the CEO. However, I agree with DH’s views and being a public limited company, it’s mandatory to publish all information which are related to the company including retail investor meeting. The appropriate way is to prepare a Minutes of Meeting with the identity of members present and publish at the BSE site like other firms do for Investor meet. I don’t think the CEO has discussed / disclosed any confidential information with the retail investors (closed group of members) and also its better to maintain transparency to avoid any conflict of interest among other investors. Hence, do not take it anything “personal” and let’s continue to fight against the unethical behavior of the culprits who have involved with BCG. Again, my / all our sincere thanks & respect for all your previous / forthcoming initiatives. Let’s all be unite and continue to focus on our objective to showcase BCG’s real value and potential on the share price. Thank youFebruary 1, 2021 at 7:35 pm #10381
I am just reiterating what I have posted last week. If BCG cannot keep up it’s commitment of paying 5 paise per share holder, then there is no reason to believe what they say or said about the current state of the company or forward looking statements. Their credibility is down in dumpsters, if they cannot even pay 2.5 crore overall which should have been provisioned and kept aside ONLY for this purpose all along since May 2020 when they announced dividend.
As far as this forum and it’s members are concerned, we are all invested in this stock and all of us have vested interest in seeing this company succeed. I have been invested in BCG only from late 2018, whereas some of the investors in this group have been invested in this stock for 6-7 years now and hence I could understand the pent up feeling that you might have about the management seeing the commitments not being honored time and again. My belief is that the company and the underlying business is good. But the corporate governance is worst and if it requires individual to stand up and ask question to the management,one should do in order to hold them accountable and that should resolve the problem of corporate governance. I know this sounds like shareholder activism, but ultimately it is our money that is invested in this business and we are part owners. To that extent, if we remain off handed and trust that management would do everything right, my fear is that we would end up seeing more such moves where retail investors would be at the receiving end.
There is no point in blaming individuals for not revealing their identity or doubting individual’s intent when they post a message in this forum. I am sure all of us have made our investment decision not based on what others said/did, but based on our own convictions and the choice of staying with the stock is also purely ours and ours alone and hence let us not try to blame any body. If we remain invested in BCG, then it is our OWN decision and if we decide to sell out and move on, again it is our OWN decision.
We must use the forum to share knowledge, insights,etc. But to take the bit of info as insight, knowledge or something to ignore is for the individuals to decide. Personally, I take any viewpoint with a pinch of salt. Some of them I might take and some I chose to ignore…February 1, 2021 at 9:26 pm #10382adminKeymasterTopic Author
I had personally verified the contacts of Hyderabad members and helped each of them connect together. Until now I had only heard people questioning this forum and now the desperations is making even doubt the forum members as well. I would sincerely like to thank @rathi & team for all your contributions so far. As it happens in life, even when you do something with good intentions you recieve flak. Nobody can stop you to from visiting the company, as it is every investor’s right, however I would request you guys not to share the outcome here.February 1, 2021 at 9:39 pm #10383
When I mentioned about my telephonic interaction with SKR on 6th Jan, I did not mention about my question to him about the dividend since that was not the focus of the conversation and moreover there was nothing to share as an update. However, I feel it is apt to mention it now and hence posting this. Once SKR completed his discussion about my scores portal complaint, I had asked him about the dividend and said that it has been almost 1.5 weeks since the dividend is approved and I haven’t received the same. He said that it would come and there is some 30 days time limit for the process and it should happen within that time frame,etc,. This is an instance of hearing first hand from CEO that dividend would be paid within 30 days following due process and I took it on face value and now after 37 days, still no update. I feel I could not judge him/his words when he talked about a simple event like dividend. I am sure people who have met him or heard from him first hand would relate to how it feels…February 1, 2021 at 10:03 pm #10384buffetRegistered Boarder
Please do share outcomes of SKR meet to this forum whenever it would happen. Its upto individuals to believe it or not. If anyone doesn’t like it, they can ignore it. But let’s not deprive the believers from any important information.
As retailers, I think we should learn to trust eachother. I truly believe @rathi_b & team have done fantastic job by reaching out to SKR directly. It has helped many like me to calm our nerves. Hopefully last of these dark clouds would bring soothing rain & reward every1 handsomely.February 1, 2021 at 11:07 pm #10385VALUEBUYER001Registered Boarder
Dear admin, @rathi_b and team , It is very disgusting to know how people perceive even the good deeds of a person with good intentions , doing a thing for common interest without expecting anything in return. Please throw those comments to dust bins and do not change your swadharma of helping others like a sage who while taking bath in river saved a biting scorpion 🦂 several times even after getting bites several times. Just IGNORE SUSPECTING AND DOUBTING people. I sincerely appreciate and thank admin ji and @ rathi_b n team for all your sincere endeavours 👍🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏February 2, 2021 at 10:37 am #10388drpramRegistered Boarder
Once again the euphoria has gone and our sentiments are at bottomed out..But i share all concerns which are true and real in front of us.. We already had some long pending problems which were not seeing dawn, the management added two more additional problems..PW and Dividend which none of the investors anticipated or expected…the only good thing is stock is in sideways and taking support at 7 rs.. If result is not good, nobody can save the stock…Nobody wanted dividend ,the management announced a miniscule dividend and couldn’t distribute is too badFebruary 2, 2021 at 10:46 am #10389
Dear all fellow investors.
Let us not doubt each other at this moment. Why does a company CEO meet investors when he has no obligation to do it because it is his plan to distribute non material jnformation.
So we need to look into the motive.
Now the company does not want to reply investors email, that shows they don’t want to give any information.
My perspective is since for one complaint on scores in preferential warrants, ceo himself called why not somebody from knvestor relations. Looks to me very odd and shows how PW are important for company.
So my take is unless PW are approved by exchanges news will be controlled. I don’t expect them to even meet our fellow investors before PW approval.9+February 2, 2021 at 10:49 am #10390February 2, 2021 at 11:02 am #10391LoganRegistered Boarder
@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.February 2, 2021 at 11:06 am #10392February 2, 2021 at 11:15 am #10393
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..
One more link from Ministry of Corporate Affairs on the same topic..February 2, 2021 at 11:36 am #10394Rathi_bRegistered Boarder
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.February 2, 2021 at 12:03 pm #10395buffetRegistered Boarder
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.1+February 2, 2021 at 12:07 pm #10397
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.February 2, 2021 at 12:16 pm #10400sandyc316Registered Boarder
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!February 2, 2021 at 1:11 pm #10401rpm87Registered Boarder
On reading Section 124 of the Companies Act 2013 (listed below):
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!!!February 2, 2021 at 2:14 pm #10402hw_twRegistered Boarder
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