General Discussion

Viewing 20 posts - 4,461 through 4,480 (of 4,589 total)
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  • #13341
    chris
    Registered Boarder

    The thing is the letter by sebi and the commentary by the company definitely do leave room for some imagination.

    My take would be, company received letter regarding need for “forensic audit of consolidated financial statement with special focus on asset impairment” on the 16th September from Sebi.

    As per the company, they shared concerned papers and documents to contest/convince sebi that audit was unnecessary as the asset impairment was as per GDPR norms.

    SEBI confirms that the audit is necessary on the 25th Feb and exchanges were intimated of the same on the 28th of February.

    To avoid this confusion if the company had also shared the communication that it had received on the 25th of February then there would be some closure.

    6+
    #13342
    chris
    Registered Boarder

    On the other hand if the audit had started on the 16th of September itself, I feel there is a positive side in this as well, SKR (although will be categorised as bad corporate governance) has spared us six months of trauma and then the sebi report should be out anytime soon as I believe such audits take about 6 months To a year !!!!
    Hoping for the best, forever an optimist 😂

    #13576
    Anbuviji
    Registered Boarder

    What happened to this forum, No updates and also latest pages are deleted 253 to 258, why it was done, Is this the effect of forensic audit, The growth of the company & future of adtech are intact, then nobody to worry, Admins cheer up, never give up, the time will change soon

    #13578
    admin
    Keymaster
    Topic Author

    Hi @anbuviji – Welcome to the forum. I too noticed that a forum member has removed some of his posts for some reason. Subsequently there was a glitch to access this thread directly from homepage which is resolved now. Everyone can now start posting. Please feel to discuss freely, there is absolutely no restrain.

    #13579
    Brightspot
    Registered Boarder

    also SKR given some hints that he is cooperating with sebi officials in this regards since sept 21 by supplying trial balances, ledger accounts, bank books of the company; Detailed breakup of the impairedassets by subsidiary; Impact of GDPR law by product; Audit committee and board resolutions,regarding the impairment, etc. so we can guess that audit almost done and only formality of closing with publishing report left now..hope we get the good news asap..sky is the limit after that..

    #13580
    Raja
    Registered Boarder

    Dear admin, it was by mistake the posts was deleted..thanks for restoring the glitch in the website….if possible kindly retrieve and re post my messages.
    I will be always participating in this wealth creating forum.
    Best wishes

    5+
    #13581
    Raja
    Registered Boarder

    A very good msg from a banker – Positive2021-from mmb,
    Dear Friends I m watching the comments of some boarders who are equating company with DHFL or other companies. Being a banker, I knew that it is a general practice of writing off NPAs on quarter to quarter basis. It happens with HDFC and all other banks. Statutory Auditors checks these on regular basis. Its one way of cleaning balance sheet. BCG has done the same thing and they have reported same also. Actually seeing exponential growth of business and tactical takeover of cash rich companies and future takeover of audio company etc has raised eye brows of in industry circles. BCG being a debt free company has shown the path through their stalwart leaders like Mr Reddy by consistent growth. Friends, u have to understand that fraud companies always hits bankers first. In this case BCG is a debt free company and acquisitions r made by out of internal cash accruals. We are seeing forensic audit as end of BCG and it had happened with so many companies then there was no hue and cry and they are working as it was in past. If u do not believe then checkout on the companies went under forensic audit. Friends its a process which will complete in some time and BCG will come out more strong than before. Patience is the key and do not sell ur treasure for peanuts. Company is bound not to share details of forensic audit process due to legal requirements. Hence hold ur gems. Its a sentiment game which will change with 1 or 2 large deals”

    #13582
    Raja
    Registered Boarder

    Good news, from 7th our script is moved to ASM stage 3…also looks normal trade might happen…
    Best wishes

    #13583
    hw_tw
    Registered Boarder

    The Audit outcome is not going to change irrespective of whether the Audit has started long back or last week or whether the Audit will take 72hrs as mentioned by someone in MMB or some 6 months plus

    Similarly Audit outcome is not going to change because some FII is still buying out there or if in case Mr. SS decides to wait and watch or he does a full conversion

    Also it’s not going to change just because MediMint acquisition is thru or by Releasing earnings Guidance or some other action of the company ( No doubt all these are Trust boosters )

    Also it is not going to change just because the price is falling or raising

    It’s not going to change just because 2 lakh investors Trust and few investors doesn’t Trust

    We need to just let SEBI and Deliotte do their duties and let BCG’s management continue their day to day operations as is without bothering or blackmailing them … In the end, We need to Accept whatever Deliotte report as is

    Meanwhile, the question in front of us is … do we believe in the numbers or not

    If YES, stay PUT and wait for the Audit Report as and when it comes

    If NO, we need to understand what is the Risk involved … Is this a big one or a small one … I mean will they consider this as an intentional misrepresentation of numbers or an unintentional one with just some observations and corrections along with some guidelines to follow

    Also we need to note that the checks are only about impairment component … As we heard from many Accounting experts that this item is just an accounting entry and there is no cash going out from BCG’s Banks … meaning even if something comes out there is nothing to worry about as there is no question of money siphoning at all

    In my view, the interpretation of these entries are subject to accounting standards of that country and are always debatable … Its going to be EY vs Deloitte… At most Deliotte will be issuing these observations and asking the company to make necessary corrections and follow some standard guidelines and nothing more than that

    This is just my view basis my understanding at this point of time … Request all investors, not to get carried away with just price movements as it doesn’t reflect anything at all … please try to understand the matter in detail on your own and evaluate your own Risk … Accordingly you can take a call whether to Buy or Sell or Partially Sell or Just Wait and Watch

    #13584
    imposiblznuthin
    Registered Boarder

    post on mmb by 17rv

    Guys,, Audit has been initiated, that s it. This has happened to many cos many times. Now as a normal investor, it probably isn t pleasant to hear and raises doubts but we shouldn t let it allow us to give in to naysayers.
    I have some pointers to ask:
    1. Cash is the king. Do u think a company with irregularities would ever want to make acquisitions in cash. Rather they would take a loan from the bank to make an acquisition.
    2. Why would a company pay off the debt or reduce pledged shares if there s any irregularity. They would rather increase debt.
    3. Subrato Saha is an independent director and was also in the audit committee till 2016 has picked up 2.64% stake in sep 21 and it s same in dec 21 shp. Why would he do that?
    4. Wouldn t the directors of a company with financial irregularity want to reduce their stake at a high?
    5. The cost of the present bonus is also about 161cr if I recall right which again will come from the reserve. Why would a co with issues do that.
    6. Why would the company inform the exchange proactively about impairment of assets last year if there are things to hide. Why to attract unwanted attention.
    Nobody has ever created wealth by being impatient or on weak conviction in stock market. We shouldn t surrender our convictions at the drop of a hat. I m not passing judgement that all is ok but yes I would rather not give in to the propaganda of naysayers and wait with conviction for status clarity because there are things that don t seem to be as the behavior of a company with cooked books. Nonetheless,,,everyone is free to do what they feel is right though. Rgds

    #13586
    Deepak
    Registered Boarder

    Where is headstead nowadays even rathi so many old people are missing from the group since long time…

    #13587
    Logan
    Registered Boarder

    Yeah, we all are missing @rathi_b and the Hyderabad team. They gave us so much confidence during very tough times and it’ll be great to hear from them now.

    #13588
    Deepak
    Registered Boarder

    Any other guy from hyderabad who can go and meet srk and clear all the things. Now situation is going worst day by day and even no more announcement to control the damage. And so many social influencer making fun of bcg investor and company. It really disheartening to see all this.

    #13589
    kiran
    Registered Boarder

    Hi,

    Great pain to bear time in market now! Aacharya Peshwa stays in mumbai , I think , Bombay guyes can attempt to meet him.
    SRK and Peshawa have tweeter handle also..
    Just imformation…

    #13590
    JackSparrow13
    Registered Boarder

    Guys,
    Please please calm down. Its no fun seeing money erode, but if you trust the company, and your portfolio allocation is ok (5% or less), just ride the bouncers. The new ball is bound to get old, and easy to bat against. Might get badly trolled for this, but “At one point, Amazon lost more than 90% of its value. But long-term investors still got rich”. If you have over allocated, think deeply. What if the next turnaround comes after 5 years? (just saying)

    At one time, i had invested in a company called Usher Agro. Highly indebted, but i was counting on management to manage. Well the story had a pretty bad ending, company got liquidated (with my money in smoke). Only savior was <5% allocation. Reverse stories are also there. I hold sanjivani parenteral from 2016 at Rs. 14. Check its chart. Its all a part of long term investing.

    #13591
    JackSparrow13
    Registered Boarder

    Apologies in advance, if the above offends anyone.

    2+
    #13592
    kiran
    Registered Boarder

    If SRK was aware of inpending forensic audit suggested bu SEBI and is in communication with them then he should have fasten the bonus procedure and completed well within feb itself. Rather has given full one month time for voting to investors , illogical ! what was his logic to fix mar 16 as record date? and now no notoficatioons sofar , completely balckout !!!

    5+
    #13593
    Deepak
    Registered Boarder

    @admin is it possible could you send email on behalf of retail investor of brightcom forum regarding current panic in market.Today it is 5th day of lc in brightcom if it will conitnue like this our all the effort of last many years will go in vain.

    #13595
    Brightspot
    Registered Boarder

    The riskiest time to invest is when the scrip looks safest. The safest time to invest is when the scrip looks riskiest. selling quantity drastically reducing , hopefully we could see reversal before 11

    #13596
    buffet
    Registered Boarder

    As per forensic audit disclosure rule given in below article, it is mandated to disclose initiation of forensic audit. But BCG need not disclose the final forensic audit report as audit is being initiated by SEBI (the regulator). Here is snippet from article.

    “However, companies need not disclose the final report where the forensic audit has been initiated by the regulator or the enforcement agencies.”

    https://www.thehindubusinessline.com/markets/stock-markets/sebi-diktat-on-mandatory-disclosure-of-forensic-audit-is-good-in-intent-but-needs-fine-tuning/article32843861.ece

    Nevertheless, investor community would be more than happy if final audit report with management comment is made available to clear the investor doubts.

Viewing 20 posts - 4,461 through 4,480 (of 4,589 total)
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