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  • #10672
    vgsatwork
    Registered Boarder

    @admin

    Since I did not see any topics which talks about the actual process of Account Receivables Financing (LOC that BCG is trying to get), have started this new thread. Please move this to appropriate topic if it is already existing in some other name

    2+
    #10673
    vgsatwork
    Registered Boarder

    Came across this interesting article in Investopedia about Account Receivable financing and thought of sharing with the group
    https://www.investopedia.com/terms/a/accountsreceivablefinancing.asp#:~:text=A%20company%20just%20gets%20an,based%20on%20accounts%20receivable%20balances.

    #10674
    vgsatwork
    Registered Boarder

    Per this article, Account Receivable financing could be done in one of the two ways
    1. Asset Sales – Selling entire account receivable to a financier and avoid the default risk on account receivables. Upside is improved cash flow and default risk avoidance, etc. Downside is that the company may get only about 90 cents for every dollar of asset being sold to the financier

    2. Loan – This is more like a secured loan using account receivable as a collateral. This is easy to get and funding is upto 100% account receivables. But the interest rate and fees are substantially higher than a typical business loan. Large shareholders would be dead against this if the interest cost is huge and have a significant impact on the margins and my guess is that LOC in BCG case may have been delayed due to objections from large and institutional shareholders and now given that most of the large investors are out, company may go for the same..

    Not sure what type of LOC that BCG is trying for.

    Team at Hyderabad which has met CEO and were provided update on LOC – Can they throw more light on this?

    #10675
    vgsatwork
    Registered Boarder

    May be I am over thinking on this line. But why the Consolidation under one entity is not being actively pursued, especially after a public announcement on the same early last year? Such consolidation would have helped to get more affordable business loans as opposed to costly Account Receivable Financing?

    Would moving out of large & institutional shareholders were triggered because the consolidation not being pursued and more costlier Account Receivable Financing was actively pursued by the management?

    #10682
    sac6310
    Registered Boarder

    heard that next date provided is 15th feb, can someone re confirm?

    2+
    #10683
    drjaysee
    Registered Boarder

    Dear @sac6310, I have checked at the website (https://nclt.gov.in/interim-order/789765) but it’s not yet updated about today’s order. We need to wait till tomorrow.
    However, if this is true that next date will be on 15th Feb means, BCG is in the final stage of closing Axis matter or due to the result on 12 Feb, this has been postponed on purpose to fulfill their pending needs. Lets be cautious and patience.

    #10684
    Diana Horton
    Registered Boarder

    My Dear BCGians

    In the series that I have been writing here, so far , we have , we superficially discussed and brushed the two topics, so far which were

    1. The Great Testimonial of LOC

    and

    2. The Disaapearing Houdini Act of the Goenka

    In this series, the Next Topic that we can discuss – Only Superficially and Brushing it, rather than not going into the depths will be the

    THE OAKXIT

    The Topic is pretty interesting.

    We researched and digged into the Last PE investor exit methodology.

    Asusual, Our Master, The Grand Master, tried to play a Grand game.The speciality about our Grand Master is – His Thought process- Has never been straight- Been Crooked – All the times.

    Nothing goes Straight Forward. All the thoughts and the thought process and the implementation of the same, is Crooked , as usual.

    WE gave a Call to the Team who represented the Last PE investors best interests.The Information what we got was Mind Boggling.

    The Grand Master, always stated that the Big PE investors sold and hence the stock went depreciating down. It has always been the other way around.The RIG pf 2019 Low of Rs 2.25 was not because of the PE players selling, but because of Script was rigged to such a level- A pathetic , I dare say Pathetic Rs 2.25 level( and this was caustioned in the MMB boards, that, this levels will be reached by planted agents almost 6 to 9 months before those levels were reached). During this 6 months time, the previous PE holders did not sell a single stock and were given exit at those levels.

    Who purchased those previous PE holders shares. Two Bombay shady brokers in the first instance , followed by so on so forth. It is interesting who the So On so Forth guys were.But Our Super hero, made this into a Great Victory.

    Classical- The Super Hero does All Shady stuff. Then, the Super Hero, attributes this to the Stock being at Low level. In the conference calls, the Super Hero, states that, Once that event is done, The Stock would reach Great levels.

    The Super Hero by Dirty Tricks, procrastinates on this. During which period of time, the Retailers gets restless and supports the event thinking that,The Horizon is nearly there. Later The task is completed after significant procrastination and he hails Victory by corrupt Corporate Governance.This has been happening time and time again.Later the stock Price is onec again Rigged to the next lower levels for the Next Target and agenda of the Super Hero.

    A few examples

    1. 2nd and 3rd PE Investor exit
    2. Preferential Issue of 2019
    3. Oak Exit of 2020
    and currently
    4. The Warrants issue

    This is a Classical trait.

    Everytime, the super hero, Creates a Menace, Mulls, Procrastinates, Riggs the price , makes the retailers beleive that the Horizon and Great Momentum will be seen immediatly after that particular event( MULTIPLE INFLECTION POINTS!!!!) and makes the retailer support the event. The Aam Aadmi Retailer public, in order to see some Day light, were put in a position to support these Crooked activities of the Crooked hero, just to see Day light.

    The retailers, didnt support this super Hero, for his deeds. But, They were put in a position to support the deeds and the super hero availed what he wanted. Although NEVER DESIRED by the retailers.

    Once the target is reached, the SH, will create another AGENDA and will start the process all over again.This has happend so so so so so so many times since 2016. I am sure all the LONG TERM INVESTORS will agree to it. The SH will show Low hanging Grapes and with Sweet talk will try and convince the Retailers.(Hyderabad team- Be Cautious- The Long Termers have seen this Game of Low Hanging and Sweet Talk- UMPTY number of times. Eventually One will feel and be made a DONKEY- Hence , my kind word of caution to you all). Seen so many times in the Conference Call since 2016…..

    Currently the Agenda is Warrants… Whats Next??!!

    Having said that…. All the Evidence of the drama have been collected and collated for the above mentioned two stories (Houdini & Testimonial) we stated earlier and the current topic discussion of – The Great OAKxit.We are not mentioning the name of the agents who worked in the best interst of OAK for privacy

    WE have got all the details of How the Oak guys were taken for a Ride,How they were Manipulated, How the Super hero planned to take OAK off from a Planned Pump and Dump, and what eventually happened. All data, we have collated from talking to the team members who represented the Best interest of PE people- From the CRY of the OAK guys. We have Full evidence as to How the game was played.

    Lets wait for the Q3 Results and lets see whether the So Called markets respect the Q3 Numbers!!!!

    Markets- Funny Name given and used to thier OWN Convinience of the NEEDY ( I always feel funny, when some experts use the word – Because its invisible and Not Organic and it dosent have a MOUTH. But can be conviniently used to play the Tricks of the Powerful and Needy and blame on it –
    M A R K E T S (beechaara)

    ………………………………DH

    #10685
    diamond_2017
    Registered Boarder

    Hi Diana Horton,

    i always had the big question , if LGS acquisition was used as tool to manipulate the issues , because i always had curiosity what value did they find in LGS aka Lanco global system, earlier i used to believe this was done to safeguard itself from Daum issue ( As ybrant digital shares were to be used as collateral). But now the issues and repeated mistakes in Corp Governence raises many concerns.

    We can never get clear ans , only God knows the truth.

    6+
    #10686
    diamond_2017
    Registered Boarder

    2010 – Ybrant acquires Lycos for 36$ Million
    (Source : https://www.cnet.com/news/lycos-is-alive-acquired-for-36-million/)

    2011 – LGS global gets acquired in reverse merger scheme
    (Source : https://www.thehindubusinessline.com/info-tech/LGS-Global-to-merge-with-Ybrant-Digital/article20313181.ece)
    Note :- There were 1400 employees around that time , now it is around 500 where did other 900 people go?

    2015 – Ybrant Unit Files for Bankruptcy Over Legal Fight From Lycos Deal
    (Source:- https://www.wsj.com/articles/DJFDBR0120160315ec3fd7y53)

    2021 – Acquisition which started in 2010 is still not completed while a co like Bhushan Power which was admited in NCLT in 2018 got acquired successfully within 1 year.

    3+
    #10687
    odysee
    Registered Boarder

    Dear @ Diana Horton, I have been an admirer and follower of yours for a long time and have always appreciated your balanced comments on BCG.
    However, I am puzzled by by your current cynicism and, in particular, by your cynical comments on the Oak exit apart from your sustained unhappiness ( although shared by me) on the preferential warrants.
    We are all invested in this company because of our faith and belief in the business of this company, and the future prospects and opportunities that lie ahead. We are also invested in the management of this conglomerate, for better or worse, and we retail investors hope to ride on the shoulders of this management to benefit in terms of an enhanced market value of our investment.
    We all have a major grouse on the relatively poor corporate governance displayed by the the same technically competent management, but at the same we are relying on them to deliver ‘big time’ on achieving the realistic market value of the stock we all own.
    We are also unhappy with the the whole drama surrounding the preferential warrants issue, but at the end of the day, if the outcome results in the company getting the much desired funds, the promoters getting to increase their stake and the outstanding liabilities being cleared, apart from achieving the desperately required growth in this very promising digital space, then why despair at this point of time?
    We look to you to infuse confidence and trust and hope in all retail shareholders, as you have done so may times in the past. That does not mean that criticism, where it is due, should not be articulated. It must, because the management must never take the small retail shareholder for granted. This is particularly so in the case of a public listed company.
    Unfortunately, Mr Reddy displays a singular lack of appreciation for that reality, and consequently the lack of will to keep his shareholders happy.
    It’s about time that these games and manipulative activities are terminated, and realistic price discovery commences.

    3+
    #10688
    sac6310
    Registered Boarder

    @odysee, going by probability..high chances are that the super hero will play some dirty tricks again. So I support @diana Horton comments because it is very necessary and need of hour to show management that retailers are aware of their deeds and they will not be silent this time they don’t stop all these this time.

    We all retailers wants real discovery of prices,not this articificial prices suppression and greed of management.

    #10689
    Rathi_b
    Registered Boarder

    DH I agree this much that we are pawns in the larger scheme of things. We together can get things done. Personally I agree with you and the longers here in HYD concour with that intricate post. We were and are very careful. I know market is something we cannot on face tackle him but we had requested the things that were done on paper. We saw the papers and documents, which inturn made us concentrate on the material developments. And that is giving us confidence. We are not only just taking him for his word but also with documents. As far as SH we are part of a big game played by the grand master and there is no two ways about it. DH I’ll write this much, the material developments we seek to happen should happen before April. After which we need to regroup and rework of our approach. We have looked at the documents and in that regard we expect material developments in the next 2 months. After that any grand shenanigans by Grand master will not work. If grand master doesn’t decide the end game. We shall make one for him.

    #10690
    diamond_2017
    Registered Boarder

    Just my guess Lanco infra guys were using this IT subsidary(LGS) to manipulate there forex gains, while Ybrant were taking over LGS as a anti takeover strategy (ybrant vs Daum) , otherwise it makes no sense to acquire in low tier IT co in early 2010s when there was intial craze coming up for Cloud tech service cos

    thus it feels mgmt has just used reverse merger with LGS to manipulate there needs rather than using it as strategic unit, have we ever heard anything by mgmt on IT services in so many years in concall.

    5+
    #10691
    Rathi_b
    Registered Boarder

    I’m sorry if I am offending peers here, but it’s time we shift gears and make adjustments if the grand master decides to wreak havoc again. We are at a very delicate time right now the next 1 month until April is very important if grand master thinks he can play his tunes and we are going to dance to it again, he is mistaken. We cannot sit and be played. If by April if any developments are not there, grand master should count his days in office. I am responsible for my words and I stand by them.

    #10692
    sac6310
    Registered Boarder

    @rathi_b, thanks to and your team for visiting hyd office.
    As far as I remember,after meeting u r convinced about LoC and other approvals will be done by Xmas or at max in Jan first week. Now u r saying that at max by April end, is there any specific reason in change of view wrt to time extension for approval.

    #10693
    Rathi_b
    Registered Boarder

    The warrants, last time they brought in muskaan board meet to approve it 3rd Dec 2019, the dah got in principle approval from bse 4th March 2020.

    3+
    #10694
    buffet
    Registered Boarder

    In case of muskaan, SKR mentioned their PAN card was not submitted with application to exchanges for pref shares. SKR & team didn’t know that application to exchanges required pan card. From BSE they got approval earlier. But NSE took time. Not sure what’s truth behind curtains.

    #10696
    Diana Horton
    Registered Boarder

    @odysee #10687

    Dear Odysee

    I am an Ardent Fan of BCG and will stay so aswell.I have been writing in support of BCG for almost 6 years, everytime supporting the SCRIPT BCG. I am Passionate about it, considering the HUGE potential it holds.

    We all have given our Heart and soul in support of BCG and indirectly to the management.

    It is the Management we are not so happy about, because of Multiple elements

    1. Rigging the Stock – Affecting the share holders( Many lost thier mental Balance)
    2. Never Stood up to the words ( Hardly he has done anything he has stated in the con Calls)
    3. Pathological Lying. ( Vehement Mis and False information on Many Occasions)
    4. No Respect to Share Holders value whatsoever being a Public Listed Company ( The passion he has shown to the company- He hasnt shown to its share holders)
    5. Greedy Attitude ( Cornering stock & Dilution to core)
    6. Ludicrous Corporate Governance Management( No need to give any explanation)
    7. Lack of Respect to the Big PE Guys (shows the attitude and thought process)
    8. Crooked Thinking (AGM – warrants discussion Con call)

    I can present all the Conference Call documents that has happened so far since 2016. You may kindly go through the same if you wish and you may very well see all the 6 elements of the above mentioned in Various Mixed proportions.

    Never at any point of time I was against the SCRIPT as it is. As like any retailer, I am so passionate.I have done as much reserach as possible like all of you aswell.

    The Management needs to know that The Retailers are Not Herds. The Managemnt should know that the Retailer Public Knows quite a lot and Not to be taken for Granted.

    We have collated evidence for All the SHORT COMINGS of the management.It is Not our intention to finger point. It is our intention to Let Know the Management That Its High time – Stop Fiddling and Rigging the stock for Personal needs.

    All we as Retailers are asking is – STOP RIGGING. If the Artificial Dam that they have kept temporarily on the right side is lifted, the Force and Flow of water in itself will take and Reach the stock to Great Heights.

    They have Voluntarily curtailing the natural Movement of the stock in ONE OF THE BIGGEST BULL MARKET EVER for Own selfish Reasons by purely selling a meagre quantity on the right side and by heavy trading and thereby maintaining the price levels as to what they wish.

    I am sure both Youselves, Myself and all the Retailers want the Real value of BCG to be attained in the Near future after having Given All the time in the world to sort themselves out.

    The same amount of Passion the Management has shown to the Company, If the Management would have shown atleast 1/10th of commitment, The stock would have been trading in 3 digits- Long time ago….

    I am not stating the the Managment is not doing the job. I am sure the management is working so hard for the betterment of the company and betterment of the stock.But, in this process, the above mentioned 8 ATTRIBUTES has played a COMPLETE SPOIL SPORT for the STOCK, purely because of the Nature, Attitude and Thought Process of the One Man Army

    ……………………..DH

    #10702
    vgsatwork
    Registered Boarder

    @Logan
    I have always liked the analysis that data points that goes into your writing and that is an outcome of researching by spending time ane effort and I would like to see such messages coming from you which would be enriching. Do not take any comments personally. As I had mentioned earlier, all of us have invested, staying invested in BCG on our own accord and if our investments are doing great, we can either blame ourselves, we can blame the company, the management, but not anyone else

    @ rathi_b
    Fully agree with your comment that we cannot let the CEO get away without being held accountable for the commitments that were made and not being kept up

    @Diana_Horton
    There is so much of passion in your writing and I fully agree with you. We are cognizant of the fact we have been played by the management. All the reason for us to be vigilant and fight back. Else, no one else can safeguard our interest as shareholders.

    All problems gets resolved if there is sizeable growth.if there is significant growth, share price cannot be suppressed for long by operators. That is the underlying problem. If the industry peers are growing at 20-30%+ growth and BCG is languishing at single digit growth, then the problem is not with the company and it is squarely with the management and the way they conduct the business. In all of our collective interest, we need to call out a spade a spade and raise tough questions to the management. It may be sounding like shareholder activism. But, if there is no one else to do it, then we have to protect our own interest by fighting back or write down our losses and move away from this stock

    #10703
    JRS
    Registered Boarder

    @Logan

    I believe no body is insulting you, but they are speaking against your perception on BCG.

    Let me explain:
    Recently a year or 2 year back there was a Gang rape in Andhra and the culprits were encountered at the same place where they raped a woman.

    This incident was seen with two different perception.

    1) Human rights activist and Judiciary:
    who opposed this encounter. it doesn’t mean they supported the culprits. They thought this instrument of encounter can be used sometimes to save the real culprits and some other innocent could be killed and case would be closed without proper investigation.

    2) women and other association:
    who applauded this encounter.It doesn’t mean they see encounter as heroic activity and believed in this,but they had lost confidence and patience on the existing system.

    Who is right between them. The right or wrong depends on situation.I mean if the incident has occurred rarely people would have believed in proper trial and legal procedure, but since it was happening many times and legal procedure was taking so long people started loosing hope on the legal system and they thought encounter is the solution.

    In this group also the criticism is happening on the perception but nobody is insulting anybody.Investors are loosing hope on SKR frustration is building.

    If SKR repeats his style of delaying tactics time and again people will loose there trust on fundamentals and materialistic growth and they will start looking for the other reasons for price rigging, if they get evidence or have the evidence they will definitely strip him.

    If SKR has done nothing wrong and the price really depends on Market sentiments then nobody can question his integrity.

    my friend don’t take these arguments personally, these arguments is only on perception not on your character.

    if anybody talks on your character it is insulting and if they talk on your perception it is just a Conflict. And believe me conflicts are good,if it is constructive conflict,as it brings more and more truth. But if it is a destructive conflict then it breaks the relation.

    Let us have constructive conflicts on Perception and try to bring more truth into light.

    Knowingly or unknowingly we have established a relation for common good, that is for growth of the retail investor, Thanks to Admin for his purpose, let us not break this relation established for good purpose by misunderstanding each other when conflict occurs.

    Regards

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