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though it is old news, did Company said why they had changed office location from Banjara Hills to Gachibowli?

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investors who believed in BCG are already shareholders with holes in their pocket and no courage to add more.. and the other investors believe Suresh Kumar Reddy is just another Fraud “Reddy” from AP..
So it will take time for the investor community to develop faith in BCG, as the company starts walking the talks and delivers on it.

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if stock comes to 3 or 4… would be last chance to bucket it up max..waiting

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I added some more shares today…anyone else?

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I would assume, the audit firm’s name would be EY as SKR had earlier said EY were helping in consolidating the subsidiaries.

It’s a very big news, to add credibility to what SKR has earlier said and EY’s association for Audit I would suppose will get thumbs up from the market.

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Agree with Platinum and marketking, it would be shooting in own foot if try to disrupt the running process in BCG, after 5 long years of wait, things are seeming to be getting better. Some last patience is what is needed now..
I do believe reaching a settlement with Daum is quite a difficult task and if we believe the latest update, things are very near for final settlement..
I dont believe management talks..
I go with price action, and it strongly suggest something is cooking..

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Jacob Nizri or @FanofJacobNizri – if you still believe you are real JB, why dont you take a flight to Hyderabad, company’s headquarters and meet us “the shareholders” and explain everything which you are saying here, what say?
when can we do a shareholder’s meeting.
Please “NO” invites or agreements on here, if you got some substance, do send a notification to the exchange of this shareholders meeting, off course you are the President of BCG and can do it, if not then you are just a bug or a mole infesting our board.

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@Shoumik you were the ardent supporter of BCG and its prospects, why this sudden change of mind.. nothing personal.. just a surprise to see you like this now..

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Looks like this group is suffering from infestation. So who is Jacob Nizri on this group.. looks like an operator Mule.

@Admin I strongly urge you, when you see an ID created with some person’s name linked with BCG, please verify their identity or block them.

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What I feel is Management is not Fraud, if Suresh Kumar Reddy was fraud, he would have made lot money since he was in the golden era of IT boom.. he seems to be a nerd, but with low business acumen. He is a failed businessman, and suffers from Telugu ego problem. Most people undergo this social pressure where they need to show to their community that they are doing better than others… At one time Ybrant Digital was doing well and SKR was in luck, and his ego made him bought Lycos, a global brand, partly I believe because, people from his village do not understand what Ybrant Digital does or is, so to put things in reputation perspective, he bought Lycos, which was half cooked.
He then realised his mistake of this huge bad investment. Hence SKR did not wanted to complete the deal and he stopped remaining payment, and played victim card that Daum had a different understanding to theirs, this is bullshit, as the courts did not see it like how SKR sees.

Courts gave all the rights to Daum, so another lost battle for SKR, he was a nerd with some good repute in his community, now he is looked down as a failure case.

He wants win it back, and I suppose he is trying to get back some respect in his community.

If you see him, he is not on global platform, even though he has subsidiaries around the world. He is a small man of his Village.

No one believes him in the investor circles, so he brought some of his old friends and operators to pay him for the PO to clear the Bank Debts..

Whatever you want to call him, but he is not a fraud..

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I have voted against PO issue …just now..

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Technically the stock has started to move up… I would hold on any adverse actions against the company.. otherwise it could be counter productive.
As other members said… people waited 5 yrs.. wait for few more months and see..probably post May, file an FIR against SKR..

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So when is the next concall…did not saw any intimation on BSEINDIA.com I suppose..

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Few days back price bounced, and everyone thought it was due to company update, but todays fall, makes it clear, that it was a technical bounce, and I was expecting it… market/investors gave a clear thumbs down …so if price does not stabilise now, it could come down to 3.

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time will tell how market took this announcement – certainly the promoter wanted to give support to the share price, hence timely announcement.
How market really takes it would be shown if 7.5 is broken or not this time, hoping it is broken and share price goes much higher than 10…fingers crossed..

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global audit if positive or neutral, would trigger re-valuation of this script, will bring in more credibility among investors, right now even though the EPS is +9, it is not considered, but I expect after global audit confirms the consolidated revenues and profits reported so far, then it could get atleast 10PE ~ 90 Rs share price… still lot more to be done to resolve the Daum issue and also remember the business model of BCG is different to other IT firms, BCG keeps most of the profits earned outside only, in it subsidiaries and does not brings it to India, but if it does this and starts giving dividends, I would say PE 20 would be fair..

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@108BullGuru what do you infer from Settlement agreement – Sent for review – first they said Price and payment plan agreed.. so who is reviewing the agreement, why did they not wait for the update till the review is done and the price and payment plan is signed in blood.

Confusing on the intents and needs of this update, even the debt is not fully cleared… nor does it say about pledged shares unpledged from Canara bank

One positive thing I see here is they intimated about the Global Audit , but still work in progress.

Also they are trying to sell Receivables, to some debt management company ? any thoughts here too?

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It could be Goenka group again transferring stocks among themselves, but this time hiding the buyer, probably with intent to show that stock is being offloaded to retailers, but if we think, they could not have sold this to retailer, but to one of their friends, as retailers cannot buy such big quantity and it would have hit the LC, but instead it was 2 traders of 3 Million shares each, means an organised share transfer. But it is surprising that they managed to hide the buyer.

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Market gives value of Zero to what SKR says, so his intent was washed down the drains.. That is a fact. No one can stop others from living in dream lands.. Price talks only..

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Someone said, that Company has informed the exchanged about the EY audit undergoing, I have not seen any such notification, could you be kind enough to give the link here. Not about intent to get Audit done, but Audit undergoing of foreign subsidaries

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