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July 29, 2020 at 7:31 pm #7884
Case will be closed with in two hearings not more than that.4+July 29, 2020 at 7:58 pm #7890
NCLT- I hope the new date has not been granted because BCG wanted more time to file a reply. They have had 3 weeks already. Surely that was sufficient time to do so. This long drawn out matter should be settled and closed at the earliest in everyone’s interest. Cannot really understand this uncanny ability of the company to let things drag on , sometimes endlessly.7+July 29, 2020 at 8:36 pm #7891sateannaRegistered Boarder
The only season this could be extending is axis sticking to its guns for 41 cr where as bcg was expecting 8 crore.. Don’t be surprised if this Drags on for a quite a bit now… BTW isn’t the company supposed to update the exchanges on the status of the case??5+July 29, 2020 at 9:05 pm #7892
As per axis bank 41cr to be paid as per bcg 31cr and bcg 22cr already paid.as per bcg remaining 8cr balance to be paid.axis bank asking excess 10cr to be paid.1+July 29, 2020 at 9:19 pm #7893
Well, Axis Bank did sign a One Time Settlement agreement with BCG with a determined amount payable. It is unfortunate that this amount wasn’t fully paid when it was meant to be. This is a pretty routine practice in reality as a part amount is paid and the balance hangs fire for an extended period of time. Let us hope that the two parties arrive at a settlement as opposed to the courts deciding for them. That would be time consuming and undesirable as other important issues will have to take a back seat till this is cleared. Fingers crossed- all over again.8+July 29, 2020 at 10:50 pm #7896LoganRegistered Boarder
@odysee, the main reason why BCG/Ybrant went for reverse merger with LGS is because of our country’s system. Back then, to come to the public markets, it was so hectic and the process was very long. Even the reverse merger took more than 18 months.
Now you can see how this particular episode is taking so much time. The courts will always take so much time and the company can’t make use of the available funds also.
The company doesn’t want to pay 3 times the amount that was agreed upon. They may agree to pay some penalty for delaying the payment but it won’t be good for us if they pay more than 20 crores which Axis wants.
Market is more worried about the Axis Bank episode and I don’t know how this will change market sentiment but I’m more interested on LOC and that will help the company in many ways. Daum will be settled, the company can grow more and improve its cash flows and that in turn will lead to paying dividends, buyback of shares and big institutions investing in the company etc.July 30, 2020 at 8:48 am #7901
Guys how many shares still left oak selling becoz from last fifteen days they are selling.2+July 30, 2020 at 9:29 am #7902Rathi_bRegistered Boarder
Good days ahead my brother, keep chill and enjoy the ride3+July 30, 2020 at 10:40 am #7903Rathi_bRegistered Boarder
Have y’all noticed the anomaly 10 times more shares are getting sold at bse than nse.2+July 30, 2020 at 4:00 pm #7904lycos.rags.to.richesRegistered Boarder
Only good thing to note is BCG is trading for the last couple of days without any UC/LC. People are ready to buy.3+July 30, 2020 at 7:11 pm #7905MyshportRegistered Boarder
Investor relations department of the company needs to be more responsible. I had sent two emails to their email ID (marked for the attention of Mr Reddy). One regarding the DAUM settlement and the other about the High Court order regarding the case in DRT and NCLT. To date, I have neither received any response nor heard of any action on those two suggestions.
Both these issues can be resolved expeditiously if my suggestions are followed.
I strongly feel that we should take up this matter (the Investor Relations inaction) during the next Conference Call.July 30, 2020 at 9:13 pm #7907BCG fanRegistered Boarder
I had mailed as well asking when will the dividend be credited to our accounts, but Did not receive any reply. This too should be a question which needs to be asked during next concall.July 30, 2020 at 10:48 pm #7908
George, first the dividend has to be approved by the general body of shareholders at the next AGM. Only then the dividend will be paid. Normally the AGM should be held by 30th September 2020 but in Covid times an extension may well be permitted. Conscientious companies will generally stick to normal dates unless an extraordinary situation deems otherwise.3+July 30, 2020 at 10:49 pm #7909adminKeymasterTopic Author
@George – The announcement about the dividends clearly mentioned that the dividends will be paid after getting approval from the investors in the AGM.
Request everyone to please take some time to properly understand the official announcements as well as the discussions already made here before you post anything. This otherwise cause confusion among new investors.2+July 31, 2020 at 2:08 pm #7910
Does anyone remember when BCG was put in T segment and any idea when it would be out of T group?0July 31, 2020 at 2:57 pm #7911lycos.rags.to.richesRegistered Boarder
@max I don’t think changing Group or Circuits is going to make a difference unless some positive announcement from BCG. Market is very sceptical after the OAK fiasco.
If SRK thinks the various issues he is trying to resolve is getting delayed, he should atleast buy few lakh shares from open market to boost confidence to investors.0July 31, 2020 at 4:26 pm #7912
@lycos.rags.to.riches, I would prefer that the management just focus on getting issues resolved and get LOC at the earliest. With elections coming up in US, BCG would miss a golden opportunity to increase its revenue significantly if LOC does not happen in short time.
I know that with the Axis and Daum issue looming over their heads it would be very difficult for and lender to lend working capital. However, I am sure that if any lender has given an in principal approval then it cannot be without knowledge of the above mentioned issues. I hope they sort out everything well before US elections.1+July 31, 2020 at 4:31 pm #7913
I was asking about T2T because I feel that issues would get sorted very soon and with regular circuit filters in place, the increase in cmp would also be fast giving less chance to manipulators to play their games here.1+July 31, 2020 at 4:35 pm #7914
@ rags.to.riches, on a lighter note I was contemplating changing my forum id from ‘odysee’ to ‘lycos.riches.to.rags’ with the way the market is treating our company’s stock. But then i realised we all have to persevere and suffer this pain for a while longer. 😊Admin, do excuse this post.3+July 31, 2020 at 4:43 pm #7915Optimus Prime 06Registered Boarder
as per june share holding pattern..oak was holding around 1.87 crore shares..in july month itself more than 4 crore shares were traded..what about another 2 crore shares..may be they are trading..but they need to take the delivery and stock is almost down in this month…that means not only oak is exit..some one is buying in huge quantities..exchange of shares are happening between big players(may be known persons to management are buying)..coming to retail investers,i am sure we are not selling..(atleast in huge quantities)..i think we need to give some time to mr. suresh reddy..we know he is a capable person..otherwise he would have paid the amount to the axis bank without any nclt..even saving 1 crore is important…i think he will save atleast 1 crore..
remember, he reduced pledge shares from 60 to 33%
june quarter result will be the key..the share price reaches new high if he reaches his target..1+
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