[drjaysee]

Dear @Logan, Thank you very much for your prompt reply as always. At least today we got the good news of “Axis Settled” which has given some interim relief to many of us before we hear other development news. Really, I didn’t know about the con call protocols and I was thinking that it will happen within 2 days (normal practice with other firms). Anyhow, let’s wait till 20 Feb and if the management is positive, let them give some more unexpected surprises before 20Feb.

[Diana Horton]

Team BCG Management ….

Many thanks for the sincere action put in place to close the legacy debt.

We all as share holders do appreciate this deed and request the management to walk the talk successfully.

Also, our request to the management, is to make use of the great Indian and Global Bull run and get appropriate valuations for our BCG.

Happy V Day, the hero always being our BCG

……….DH

[drpram]

I second # DH’s wishes and congratulate BCG management for atlast closing the Axis issue..
As always viewed by #Rathi and team, let’s wait till march end for closure of all pending issues and LOC approval.. Our dreams for apt valuation for this stock will come true..
Happy valentine’s day let the love between investors and BCG management take good turn from today onwards..

[Diana Horton]

@drpram

With the anticipated Formal closure of legacy debt closure, the long standing issue will be coming to an end

Daum in itselves is almost a written off issue. Lycos on the balance is not going to bring any value addition as discussed earlier, as the world has moved far beyond in a fast forward way.The Koreans themselves have not been too keen as the last court hearing and discharge of the case was noted by March 2019.The case has been written off by the judges and there is no pressure on BCG , theoretically.So, when the LOC funds are available, then, the payment can be made to the Koreans as appropriately and as need be.

LOC will be useful for the near future accelerated growth of the company.

Warrants approval is the only probable practical temporary hindrance. The way in which conference call has been announced in a week’s time, gives me a suspicion that the management is expecting something in the forth coming week regarding the same aswell, hopefully.In the past , irrespective, conference call has happened during Mid week aswell. Based on this, Its my strong guess along with the mathematical timeline needed for approval time, this should also materialise in the coming week, followed by confirmation of walk the talk by the management.

Markets (our sentiments)always reacts to news and settles down after glorious settlement and validation of the stated news.

In nutshell,but for pending Warrants approval this week,it’s my opinion that, there are no practical hindrances I am expecting for the true Market cap realisation.

It is desired by all retail participants that the Management respects the true sentiments and fullfill Thier valentine’s Day wishes in the form of true realisation of Market cap

Our support to the BCG management in achieving this in par its world wide peers

…….DH

[drjaysee]

Dear @ DH, as per your below view:

“The way in which conference call has been announced in a week’s time, gives me a suspicion that the management is expecting something in the forth coming week regarding the same as well, hopefully.In the past , irrespective, conference call has happened during Mid week aswell. Based on this, Its my strong guess along with the mathematical timeline needed for approval time, this should also materialise in the coming week, followed by confirmation of walk the talk by the management”.

With reference to my post #10821., me too suspect the same May be SKR is waiting for the formal intimation of PW approval from Exchanges (already he might have got the informal positive news of PW approval through his internal sources) and also by seeing his Greeting Card on “Valentines Day” which indicates a indirect positive sign of his happiness!!! Good Luck to all BCG Investors as well as BCG Management for future endeavors.

[profile inactive, exited bcg]

The statement just says the company has settled with Axis bank on the closure of the loan, and bank is working on a formal approval. Wasn’t this the status 2 quarters back as well, when skr mentioned about logistical issues? Not clear yet! May be the NCLT hearing tomorrow will throw more light.

[Sobha]

@Diana, Please clarify more on the DAUM case. Because what is explained by the company is like this – irrespective of whether lycos is required or not, as it is a deal for 36 million US dollar, BCG has to pay back the balance. The balance is disputed and after long exercise, reached an agreement. We can assume 16 million dollars is the agreed amount. As the parent company BCG has given the guarantee to that, the company cannot escape from that. Everybody knows the amount is there in BCG hands. But the case is not yet closed. Even in the last con call, skr said that – the issue will be settled the next day after LOC. Then how can we say that the long pending issues are over? Why the Daum is silent, I am not getting. A significant amount might have been already paid, but kept away from investors. Please explain.

[Diana Horton]

@sobha

The Daum issue was a Long Drawn saga. Let me scribble my postulate,considering the Koreans havent disturbed us for more than 2 years. Why would that be? They were quite aggressive 5 years ago and for past 2 years pin drop silence!!!

As we all know, the Koreans tried various tactics and the Court case was long drawn.

Eventually Daum did not have much stand at the end of the trial based on the final verdict when the court case was dismissed, only to approach back, if need be( 2 years ago)

BCG Management exemplarily compartmentalised everything in such a way that all the Assets were secure- That was Master Stroke.Commendable.

The Koreans played Spoil sport during the First LOC- The WHite Oak, if we all remember, they Sub Peoned them and White Oak developed Cold Feet and with drew.

The Court case was eventually got dismissed and to get back If need be.

Because of the Compartmentalisation, all BCG assets were secured and Koreans would have been made to understand that Funds will only be paid, If LOC materialises, as the parent is not that rich perse.

Theoratically, I suspect koreans might also realise that, They might get what will be authorised by the LOC committee as a Portion that might need to be given to the Koreans.If the LOC stipulates a X amount Should only be given- Not only BCG nor the Daum guys can give or ask more.

Apart from this the Koreans after tried all avenues dont have anything in thier sleeves to get anything from our parent. Also, BCG parent dosent have anything to offer them as thier local revenues arent much either.Thats the theoratical truth.

Besides, Lycos has been given back to daum technically untill the payment is paid. Theoratically Our parent can also say eventually (If LOC dosent materialise) that Koreans can very well keep LYCOS, if LOC dosent come through.Lycos is also a Rapidly depreciating asset.

So, it is a Catch 22 situation where BCG parent has high advantage as I suspect the parent themselves will not see Lycos as an very important asset that they will be craving to get it back.

But, as it is a Moral liability, The parent might still be inclined to pay what actually needs to be paid to the Koreans, provided LOC comes through.

Hence, It is my theory and Opinion as to why the Koreans are silent and Our Parent has much significant and advantageous edge in the Daum case scenario and essentially a Dead Rubber.

The whole credit actually goes to the ONE MAN ARMY supported by his Support team.

…………….DH

[buffet]

BCGians,

Is it right time to add more? Hopefully 2mrrw we won’t see operator game.

Any suggestions?

[VALUEBUYER001]

Buffet ji you can add if you are lucky

[buffet]

@valuebuyer ji..I have placed AMO order. As long as buying price is around PW price, it’s fine. Anyways, I am holding sizeable quantity. Hence I m fine even if I don’t get any.

[radhutheoptimist]

Why the market is not reacting more positively to the good news. Something doesn’t seem right. Please share your thoughts.

[vgsatwork]

@radhutheoptimist

Prior to yesterday, Last official update from BCG on Axis loan was on 13th Aug 2020 and if you see both the updates that are 6 months apart from each other, it is not hugely different. In both the cases, they are waiting for Axis to revert back.

May be there is some development. But purely looking at the updates, it is just clever wordplay. We can expect the market to react if we see any material development in the NCLT hearing.

[radhutheoptimist]

…..The company has settled with Axis Bank on the closure of the loan. Bank is working on a formal approval of the same…..

This is what stated in bse notification. Can they get away from SEBI action if the loan is not actually settled? If it is so there was no need for the promotors to state it in the press release as the case is anyway in the court. Retailers who blindly believe the news will take a beat.

Looking at the market reaction today it looks like not much development in this. Hmmm…

[Logan]

There’s a difference between the August update and the recent update.

In the August update they mentioned that the company has sent a proposal on payment plan to close the loan. There was no mention about any settlement but in the recent update they have mentioned that the company has settled with Axis. They may even have paid off the agreed amount but they are waiting for Axis to send a formal acknowledgement regarding the closure of loans.

Since the matter is in courts, I don’t think they can reveal further.

If there was trust in the company/CEO/management then the market would’ve reacted positively. The CEO has said many things in the past but has not executed most of the things so the market will wait till material developments to happen.

[vgsatwork]

Reply to #10843

Axis is not lone case. Infact, BCG has said so many things as part of their business updates to stock exchanges and there is no subsequent follow up or developments. Some examples are
1. Consolidation of subsidiaries into one company (Informed about an year back in Feb 2020). No follow through updates
2. BDO audit – Last update in June 2020 said that Audit is on going. No follow through updates
3. Daum – Discussion on Lycos settlement – Last update was in June 2020. No follow through updates

Except of few of the offences like Insider Trading, Price Manipulation, etc,. these kind of lapses does not make the promotors pay big sums either through penalty or through specific orders against them.

[Sobha]

March 2 date given

[Sobha]

No settlement. 5 cr more paid

[Sobha]

Judge was angry in not settling the case. As 5 cr is paid, Axis adv agreed to March beginning.

[sac6310]

its strange that axis lawyer was not aware of any such settlement. seems again word play by management …. paid 5cr today.

[Author]

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