General Discussion

Viewing 20 posts - 3,541 through 3,560 (of 4,845 total)
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  • #11394
    LAR
    Registered Boarder

    Me and couple of my friends havn’t received dividend yet inspite of sending an email. For 1st email response was quick asking my DP and Client IDs and provided immediately. It’s been a month I am sending frequent reminders and no response and no dividend from BCG.

    I wonder, how can a listed company not comply SEBI rules?!. How long we suffer like this??. Should we??

    9+
    #11397
    odysee
    Registered Boarder

    Well spoken @jay69. From time to time, one expresses his or her frustrations with this abominable attitude of SKR and his toothless board. No independent director worth his or her salt would be a silent spectator to the manoeuvrings on display of such brazen price manipulation and control, not to speak of countless missed timelines (so convincingly articulated by Mr Reddy to a ‘desperately seeking redemption’ audience of wanting to believe retailers) of various important milestones that could have lifted the company to an altogether different hemisphere of sought after new-age tech companies.
    The shamelessness of it all and the complete lack of ethical responsibility toward the ‘trusting’ shareholder of a public listed company is truly mind- boggling.
    But then, as I have stated before, we bleat but no avail.
    We are toothless too, like the other board members, in this charade being played out- just puppets on a string being deftly jerked around by the one and only master puppeteer.

    #11398
    odysee
    Registered Boarder

    Apologies. Bleat but to no avail.

    2+
    #11399
    anirudhreddy
    Spectator

    @Diana, Many thanks for your reply to my post. I agree with you Lets wait till end of this FY2021 and see if there is change from April 1st week onwards, both in behaviour and pattern of stock movement and at same time needy (one man show) attitude to see if he/operators let it go its own way without further manipulation and sustainable rally happens in BCG.

    Action Plan is ready if it continues beyond a limit and set timelines. @Rathi ji and Hyderabad investors have some plans depending on what comes out and span out in next few days. For sure we won’t be just finished with sweet talks and blatant lies. Please do contact me once you feel its the right time to collectively take action for all the best interest of Retail Shareholders. We have to fight our battle without leaving it to someone’s mercy.

    #11400
    buffet
    Registered Boarder

    @anirudhreddy @DH @Logan @mayur @rathi_b

    If things don’t work out as expected, I think we shall take legal advice/action as well. We will contribute towards lawyer fees if the need arises. This can’t go on forever. Enough of these dirty games. Let’s be ready with all options & take a collective decision.

    #11401
    Rathi_b
    Registered Boarder

    Dear members most of the offices in hitech City, Madhapur and Miyapur are closed due to increase in covid cases, the offices have been shut till first week of April now. It looks that the meeting is likely to happen at the earliest in the second week of April. Apologies, but there is not much we can do. We are still trying our best.

    #11404
    sac6310
    Registered Boarder

    seriously , BCG management is testing height of our patience . Every management wants to increase their market cap and this management is pathetic. Qualify for Rarest of rare.

    #11405
    buffet
    Registered Boarder

    @rathi_b Is SKR ready to meet or team will walk-in directly? Did anyone receive any communication from BCG IR in this regard?

    5+
    #11408
    anirudhreddy
    Spectator

    No doubt today that BCG is the operator’s paradise and highly operated stock with the hand in gloves with needy. Stock back to where it started 7.70 to 8 rs range. Thrashed mercilessly from 10.80 to 8 without any breather.High time and as Diana Horton recommended, we are waiting till End of this month to see the action plan. Nothing less and more post 31st March. I know for sure i will make some sensible breakthrough this time.

    #11409
    odysee
    Registered Boarder

    The price action could suggest that the PW issue possibly stands rejected, bearing in mind the 3 months deadline of issuance after receiving the shareholders’ approval.
    In that event, the company is obliged to report to the Stock exchanges as well as inform the shareholders of the same, as well as the reasons for the denial.
    If rejected, it may be difficult for BCG to undergo the same exercise again in the near future. Which then begs the question as to the availability of additional funds required for the growth of the business, as well as discharge and settlement of the pending Daum issue.
    There is no update on the LOC, which is surprising, considering the ‘almost done’ proclamations by SKR on a number of occasions, and the confidence expressed by Rathi_b and team after their second visit to the BCG office in December 2020.
    So, where do we stand today? And what bodes for the future of the company and its place in the market from an investor’s perspective?
    The recent positive Analyst’s report factored in the receipt of funds from the Preferential Warrants, and the LOC was to be the ‘whenever required’ funds against receivables.
    May I specifically request Logan and DH to offer their thinking on this ?
    Or is it premature to sound doubtful and concerned at this particular point of time.

    #11410
    sac6310
    Registered Boarder

    whats going on in BCG.some joke..???????? just one more LC and it will be below PW price 7.7

    #11412
    odysee
    Registered Boarder

    Thanks@jay69. I was relying on the post on this forum on the deadline aspect wherein some excerpts on the rules had been provided. If no such time limit is there, then I suppose we can keep our hopes alive. But the price action and manipulation is very troubling.

    #11413
    vgsatwork
    Registered Boarder

    @odysee

    I am reposting my earlier post #10937 on how soon the exchanges are Obliged to provide approval
    *******
    Someone had asked this question couple of days back as to how long the exchanges would take to decide on the PW approval. Looking at this below, exchange must have asked for details/clarifications from BCG. If they have provided the same, the approval should come through within 30 days of BCG providing those clarification. Again, here is a lapse from BCG in terms of disclosure. They should have disclosed if the exchanges have asked for clarification and whether the company provided the requisite details,etc,..

    Below is the extract from LODR 2015 as far as obligation from exchanges are concerned

    Obligation of stock exchange(s).
    110. The stock exchange(s) shall grant in-principle approval/list the securities or
    reject the application for in-principle approval /listing by the issuer or issuing
    company, as the case maybe, within thirty days from the later of the following dates:
    (a) the date of receipt of application for in-principle approval/listing from issuer or the issuing company, as the case may be,;
    (b) the date of receipt of satisfactory reply from the issuer or the issuing
    company, as the case may be, in cases where the stock exchange(s) has sought
    any clarification from them.”
    **************
    Based on the conf call update, SKR said, all clarifications have been provided and this update was from 20th Feb. Hence by 20th March, exchanges should have conveyed their decision as per the LODR obligations. OTherwise there must have been additional queries from them which BCG has to respond/ might have taken time to respond due to which the 30 day limit is not yet reached.

    In any case, from transparency perspective, an update from the company was due on 20th March (Exactly a month after CEO informing in conf call that ALL queries from exchanges have been responded back to). Market always treats no news as bad news in such cases….

    #11414
    Srd.rdx
    Registered Boarder

    People were talking about Morepen.. They completed the allotment process today!

    #11415
    Srd.rdx
    Registered Boarder

    BCG mgmt should provide an update on current status. There is too much of suspense over it.

    2+
    #11416
    drjaysee
    Registered Boarder

    Dear Srd.rdx (#11414), I had gone through Morepen Lab Board of Directors Approval letter to Exchange dated today 25.03.2021. But I don’t think this is the approval from Exchange. This process have already been done by BCG dated 28 Dec 2020 and this letter exactly identical as today’s Morpen Lab Board of Directors Approval intimation to Exchange. Personally, I haven’t seen any PW approval letter by Exchange to any companies so far including recent Ducon Infratech. Pls refer the attached PW approval letters by the company to exchange (Board of Directors Approval letters of BCG dated 28 Dec 2020, Ducon; Morepen to Exchange. Please correct me if I am wrong or appreciate your suggestion / input in this regard (for me it looks all three are in same stage now).

    #11423
    Srd.rdx
    Registered Boarder

    Dear drjaysee, Seems like I jumped the gun looking at the notification. Just noticed Morepen has sent such email in October 2020 as well raising 421 crores and then another notification raising 70 crores. So seems like A+B. Its just another warrants.

    Others..Please do share your thoughts.

    1+
    #11424
    sandyc316
    Registered Boarder

    @drjaysee What you have attached here is the duplicate share certificate notification for Morepen Labs. As per the notification, Morepen Labs has indeed approved the allotment of warrants upon receipt of 25% of issue price from the entities.

    Please refer this

    Also, interestingly, almost all of the companies notified the exchanges only once the warrants were allotted and not when they received a formal approval for the same from the exchanges. So we should expect the same i.e. a notification once the allotment has been done.

    3+
    #11426
    drjaysee
    Registered Boarder

    Dear sandyc316 (#11424), my apologies. It was by mistake. However, the initial PW of Morepen Lab for 11 Allottee for 16.85 Crs PW @rs25 (Pls refer the attached dated 13 Oct 2020). Whereas, the recent approval (as per your link) for only 10 Allottee of 3.5Crs PW@rs25 (they have removed 1 Allottee – Liquid Holdings Private Limited 13,35,00,000) ..that means there may be a chance of rejection of the previous one and latest one for 3.5 crores has been approved by Board of Directors and sent to Exchange. This process of 34Crs approval by Board of Directors of BCG has been done on 28 Dec 2020. Now we should come to know about the outcome of that 34Crs PW approval from Exchange. But, so far I didn’t see any PW approval / rejection letter /order by exchange to any companies. May be this is not mandatory to disclose to the public and only internal communication between Exchange and Firm. Until now we have no idea about the status (Either BCG received any feedback / approval / rejection from exchange).

    #11428
    sandyc316
    Registered Boarder

    @jay69 Think these are the steps (not sure and I could be wrong)
    1) Board approves the proposal to allot warrants and passes a resolution in AGM
    2) Exchanges approve the resolution
    3) Once resolution is approved, the allottees need to transfer 25% of the money to the company so that the warrants can now be allotted to them. At which point the company notifies through exchanges. (Think this is where Morepen Labs is)
    4) The allottees pay the remaining 75% and exercise their right to convert the warrants into shares at which point the company again notifies the exchanges


    @drjaysee
    Is it possible that the last allottee i.e. Liquid Holdings Private Limited are not interested anymore in the warrants? Is it ok for an entity to not exactly go through with it as there’s no binding term? Or it could very well be that they may transfer the 25% in a few days time at which point Morepen Labs may notify the exchanges again.

    2+
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