General Discussion

Viewing 20 posts - 5,321 through 5,340 (of 5,393 total)
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  • #27300
    Logan
    Registered Boarder

    There’s a saying that someone’s character will not change even after they die and SKR is the prime example of that. He had many opportunities to correct himself and make the company more transparent but he never did that. Most of his shares were sold but he lied to us for years, FA was initiated in September 2021 but he chose to inform us in March next year, same with the FA on preferential shares, we didn’t know about it until Sebi issued the interim order/SCN. Satish Cheeti who was the head of audio division must have left the company in April but SKR or the company never informed us, recently, the board members are signing all the documents instead of the company secratary and I’m guessing he must have also quit because of feeling betrayed by SKR.

    SKR at the helm is like Newton’s first law, (An object at rest remains at rest, and an object in motion remains in motion at constant speed and in a straight line unless acted on by an unbalanced force). Only when sebi put maximum pressure, SKR started showing some improvements.

    If he has any shred of humanity left, he’ll make sure that he doesn’t drag the company and its shareholders with him when he goes down. It was him who decided to reward his rich friends and made sure they made hundreds/thousands of crores not paying a single rupee at the expense of retail shareholders who put their hard earned money and life savings. He’s the one who chose to do forgery instead of telling what the truth is. He’s the one who lost his shares and lied to us for years. He should take responsibility for his actions and should handover the company to an honest and able person who will look after shareholders best interests.

    #27301
    Raj
    Registered Boarder

    What’s Vijay kamcharla doing there? He’s also a tech guy.. strange.. Are they any chances of takeover like satyam?

    #27302
    vkhare789
    Registered Boarder

    I don’t understand how financial results can deteriorate. All the subsidiaries have independent management and CEOs. Brightcom group may not have CEO but Brightcom subsidiary has a CEO and there should be no impact if SKR or Raju leaves the company.

    #27303
    Raj
    Registered Boarder

    Bcg Update: Peshwa resigns.

    #27310
    Logan
    Registered Boarder

    Now VK has resigned and the company/board is left with no executive directors. I knew this (and Mr.Peshwa’ resignation) would happen as I’ve never seen VK involved in anything. I just saw his LinkedIn profile where he has mentioned he worked at BCG only till November 2023. Mr.Peshwa distanced himself from the company as soon as SEBI’s order came. Both the founders are responsible for the current pathetic state of the company and have caused the company to lose respect and one is running away from taking responsibilities when shareholders needed him the most. What did they get at the end by doing all this? Only time will tell. I’m praying that it’ll turn out good for all the shareholders.

    I’m not understanding what SKR’s angle is. He resigned immediately after SEBI’s order came and didn’t appeal at the SAT but is appealing now. Now he has appointed few top lawyers in the country to represent the company and of course represent him as well. I’m guessing the PW allottees (who deserve to go a place worse than hell) paid the required money once they started dumping their shares (immediately after the lock in period ended). So, I’m guessing SKR may use that and show that the money was paid later etc. If they haven’t paid and still if he’s appealing then SKR will be the stupidest person in the world.

    These are my opinions and should not be taken for buy or sell calls. I hope and pray that sufferings of all the shareholders will end soon and we’ll have good years ahead.

    #27311
    Saach
    Registered Boarder

    Dear @Loganjee, after having gone through this message, A question comes in my mind that resignation of said founders is not a great damage to the reputation of company but SKR’s going to SAT is a game plan along with Shankar Sharma’s is a very serious issue to get a permission to off load the allotted shares to SS. My statement is my personal assumption being a shareholder of the company. Warmest regards.

    #27313
    Logan
    Registered Boarder

    @Saach, I think both VK and Mr Peshwa don’t want to face the shareholders when AGM happens. Maybe Mr Peshwa doesn’t want to jeopardize his career or future opportunities by being associated with a tainted company and VK being VK, is running away from responsibilities. It’s common that employees and directors quitting when companies are in trouble. They do it for many reasons – to escape from the situation (if they are involved in scams), to make sure not to jeopardize their careers by being associated with tainted companies, some will not be very involved in the operations/decisions, some don’t want to take more responsibilities etc etc.

    Regarding Mr Shankar Sharma, I think the situation will be bad for any shareholder if he/she can’t sell their shares whenever they want. Mr Sharma has said many times that this is a 4am stock and the future is uncertain and that he won’t be emotional with his investments. I don’t think anyone has read the petition filed by BCG, expect Mint and few others and Mint is highlighting the thing mentioned in the petition which will interest more people. Mentioning Mr Sharma will get more highlights than mentioning other details.

    I don’t know or can’t guess what SKR really wants. Like mentioned before, he didn’t appeal at the SAT when Sebi’s order came which would’ve given him more time back then but he’s doing it now (and hired top lawyers too). Not sure why he waited 4 months for that.

    #27314
    Saach
    Registered Boarder

    Dear @Logan, Thank you so much for sharing your valuable views. Your points carries lot of sense. Warmest regards.

    #27317
    Raj
    Registered Boarder

    A new Writ Petition filed in Telangana High Court this time by Brightcom Group Ltd.

    #27319
    Raj
    Registered Boarder

    Guys, check this out..

    #27321
    vkhare789
    Registered Boarder

    What does this mean? not very clear to me.

    1+
    #27323
    Logan
    Registered Boarder

    I don’t know whether it’s only for me or for everyone else but they’ve removed audited financials of all the subsidiaries from BCG’s website.

    And, recently they had upgraded Brightcom’s website (not the parent company’s website) where it looked good and details of all the important profiles were mentioned but they’ve changed that also and there’s nothing important in that now.

    SKR is trying to do something here. My fear is that if he doesn’t get what he wants then he may find cunning ways to sell important subsidiaries and he may announce that the parent company can’t function anymore etc. My biggest fear is losing OMS, Israel. The main reason I stayed invested is because of Brightcom’s presence in Israel (and because I trusted SKR) and if SKR does something to OMS then it’ll be like kicking shareholders when they’re already down.

    (I’m repeating this again)
    Many times he has called shareholders as family and when the second SCN came, he told us (through notification on exchanges) that they’ll make sure that the company, and the shareholders will navigate through this tough situation etc but if he does anything different and if he thinks only about him forgetting lakhs of shareholders then he’ll be one of the cruelest persons to have lived. I know it’s hard for someone to leave their company which they’ve started from scratch but it’s him who decided to do all those shenanigans and lied to everyone and he has to respectfully step down and leave the company to someone who is honest. I want this drama to end as it’s taking a toll on my health.

    #27324
    Saach
    Registered Boarder

    @Logan, I am concerned about your last line in your message, but being very elderly I would like to say something which is very difficult for you to understand at this stage, but believe me everything is going to be bright in very short time. TRUST HIM. Warmest regards.

    #27325
    Akhil
    Registered Boarder

    My way of looking at this issue is different –
    SKR sees value in BCG and wants back in. If he does regain control of bcg, it is possible that he may make repatriation and being back some value to the share price.
    All this is based on whether the company fundamentals are not too cooked

    #27328
    odysee
    Registered Boarder

    We all share your pain and sentiments @Logan. And I respect the views of Saach and Akhil.
    We have all endured, with great difficulty and a wretched sense of disappointment and despair, this whole saga and drama of the company and SEBI as it has played out over the last many months. This very complex and unnerving game of chess being played between the regulator and the company has tested the patience and belief of all stakeholders, but mostly the retail shareholders of BCG.
    So what do we all really seek?
    Retribution? Punishment for alleged wrongdoing and unfair practices?
    Or a return to some sense of sanity and normalcy in the running of the business of the company that would ultimately be beneficial to all stakeholders.
    I, for one, have moved on from a sense of anger and frustration and disappointment to what is acceptable in the best interest of all. And the latest developments in relation to petitions filed in the Telangana High Court and SAT appear to suggest some form of settlement which could enable the return of the KMPs to manage the affairs of BCG till the final disposal of all matters by the SAT hearing scheduled for 9th February 2024.
    Whatever may be the final decision arrived at, in terms of the fate of Mr Reddy and Mr Raju, in the interim period at least I would not be averse to SKR’s re installation to bring some stability and order to this very specialised Adtech business if the Tribunal or Courts so determine.
    Let there be a fair determination of malfeasance and malpractice if incurred, and a fair punishment meted out to the miscreants. But let not the 5 lac plus shareholders, who actually have more than 75% ownership of the company, suffer and pay for the sins of others.
    It is time that this long pending matter is finally brought to an end , and justice is delivered to all stakeholders in the shape of an outcome that is in everyone’s best interest.

    #27329
    Saach
    Registered Boarder

    @Odysee! I appreciate and agree with your points explained in your message. Thank you so much for summarizing all the positive points and conveying your good wishes for shareholders in the last two paragraphs. Warmest regards.

    #27330
    Logan
    Registered Boarder

    @odysee, my fear is that SKR is looking at things only from his perspective and is least bothered about the shareholders and the actual well being of the company. He’s highlighting shareholders suffering only to make case for himself as his only agenda is to get back to the company.

    If this drags on and if they don’t focus on the business then we all will suffer and looks like SKR is willing to destroy the company he built from scratch instead of handing over the responsibility to an able person.

    I don’t think Sebi will be okay with him coming back to his previous roles even with a hefty fine as it would set a bad example. Imagine thousands of companies doing the same and getting away with whatever they do. It’s SKR who cheated lakhs of shareholders and it’s because of him the shareholders are suffering and not because of Sebi. If he really cared about shareholders like he’s pretending he is then he wouldn’t have given away crores of shares for free in the first place and he wouldn’t have let those people dump their shares on retail investors when the lock in ended. One of the main reasons the stock crashed so much is because those evil people dumped their shares not caring about the value.

    In every conference call he lied to us about not knowing why PW holders dumped their shares. He didn’t inform about FA, and the investigation on PW allotment.

    #27332
    ramganesh1982
    Registered Boarder

    Hi All ,

    Does anyone know the reason for stock movement today. Are there any positives ? I don’t see any other reason why this will break resistance and head towards 23 levels with volumes. I am bothered about the cmp I am trying to understand the reason behind the movement. Market moves the stock before news 📰 in general

    Regards
    Ram

    #27333
    Brightspot
    Registered Boarder

    no news ..this pump is just to give exit to kancharla, smart people will exit in this rally

    2+
    #27427
    admin
    Keymaster
    Topic Author

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