[buffet]

#satyamite MMB posts –

33 crores of cash which bcg got from the previous issue is with us, said the axis lawyer. they want it. So maybe axis will release it after taking whatever is settled amount.

Just attended NCLT hearing online. The Axis bank lawyer informed that the due is 40 cr and they have received 5 cr. BCG advocate did not open his mouth. Nothing about agreement was informed. Next hearing 2 nd march.

#mayur

there was absolute no pressure from axis lawyer. infact he himself was saying a date till 1st march can be alloteed. this means there is some understanding that has happened between axis and company. my take.

[buffet]

@valuebuyer ji..I have placed AMO order. As long as buying price is around PW price, it’s fine. Anyways, I am holding sizeable quantity. Hence I m fine even if I don’t get any.

[buffet]

BCGians,

Is it right time to add more? Hopefully 2mrrw we won’t see operator game.

Any suggestions?

[buffet]

I am happy atleast axis is out of way finally, provided thr is no further twist & turn.

Warrant approval status is not included in the notification..
Anyways will get to know about the same in conf call. Hoping for closure on that front as well before call.

Let’s hope thr is no price suppression now onwards.

[buffet]

@vgsatwaork

Promoter and his proxies already have 36+20(G gang holdings) i.e ~56-60% or even more. But still his greed is not ending. He wants all the pie for himself and raise stake to 90% thr backdoor PW. No institutional investor left to oppose him. He can continue this game indefinitely. 60% is still not small amount. Even with buyback/open market he can get additional 5-10% and take his holdings to 70% in cleaner and respectful way.

You are correct. He losing great opportunities to make big fortune. With even current holding, he could be billionaire if stock trades in 3 digits. Market is all time high & he is not making good out of it for himself & others. That’s the irony of ours. If some1 has such mentality, no one can help it. Hope the good sense will prevail.

[buffet]

We all are tired of all these bloddy dirty games by rotten rat. simply get over it. How long exchanges would take to do due diligence? Any idea?
Someone mentioned the warrants for some other company raised during same time as bcg already approved. I have no clue why exchanges are taking such a long time. Even MGT is not uttering a word on its current status. This wait really killing us with slow poison. Ring master is also so silent. No conf call this time. Sadly these exchanges doesn’t have any webpage for tracking. Does any1 has any contacts in NSE/BSE to check with informally?

[buffet]

@logan @DH

Can you please share ur opinion on nominating director representing retailers. Please throw some light on – How retailer nominee can get in as director in the board ?Challenges, feasibility & implications of such move? Management’s possible response?
Legality? etc…

[buffet]

@DH @Logan:

Having board representation for retailers is a really good idea. I believe we have had discussed this earlier as well. It’s the correct time to put forth this proposal in front company board.

Before proceeding, I think we should take a legal opinion in this regard. Retailers may be having approx 7-10% combined. Even we should evaluate the possibility of approaching Mr.Praveen Khurana who holds ~2% for his support.

We can use the same spreadsheet circulated by @admin few months back to record the quantity & support from retailers. Even we shall circulate the same to MMB as well to get support.

[buffet]

In case of muskaan, SKR mentioned their PAN card was not submitted with application to exchanges for pref shares. SKR & team didn’t know that application to exchanges required pan card. From BSE they got approval earlier. But NSE took time. Not sure what’s truth behind curtains.

[buffet]

@DH, I am afraid SKR would end up Ramlinga Raju(Golden peacock award winner)’s way. So many loopholes in whatever he is doing. Can you imagine 59 PW holders. Such a BS.

BTW I was working with Satyam back in 2008. I know how events unfolded. Not just raju, his whole family destroyed including his son’s firm i.e. MAYTAS. Remember, it just takes one expose to bring any1 down.

If this doesn’t get resolved by March, i think we shall reactivate the plan @bullguru talked about i.e. become activist. Anyways our investments is/would be dead if nothing happens. But we should make sure culprits would be brought to justice. Enough is enough.

[buffet]

@rathi_b & team:

Can you please let us know if you have received any communication from BCG IR w.r.t. meeting with SKR.

[buffet]

@drpram

you are not alone sirji. Many like me are struggling for the last 7-8 years. Still no end to suffering. Being BCG shareholders, we are the owner of a great business but in the wrong hands who doesn’t care about anything else other than his personal gains.

We are just watching market rally from the sidelines. It’s so frustrating. Not sure when it will end. Every time end seems near, Mr. Reddy throws another googly. Tired of all this non-sense.

[buffet]

I have received the dividend today.

@JRS: If the price would remain as it is then what is the whole point of raising PW? Those 59 folks would have done due diligence before onboarding. Otherwise, why would they invest their money if they are not getting anything out of it?

First of all – we all must realize, 59 entities are just proxies of promoters to grab shares @ cheaper price. The price suppression was meant to augment the PW issuance & approval. After that, there is no need to hold the bull. They will get what they want.

After PW approval SKR will have 90% control of the company. Eventually, the majority of PW shares will end up with promoters.

[buffet]

I have 3 accounts with icicidirect & Zerodha linked to ICICI bank accounts. I have not yet received the dividend in any of those. Can you please confirm if any1 haven’t yet received the dividend ?

[buffet]

@vgsatwork,

I wish PW would become void.

But what if these 59 individuals are promoters proxies. After approval, they will pump up price 10x 20x & dispose off e.g. 10% of it to some institutional investors & fund the 360+ crs required for warrant conversion. In this case promoters would still have 75+% + 20% thr existing proxies like muskan/goenkas. Isn’t it a master stroke? He already has cornered 20%+ through proxies. With PW, he will get funds for growth+aqusitions & 90% control of company.

[buffet]

I think LOC is done deal.. as I recollect @rathi & team have seen some documents w.r.t. same. Once PW approval is done, they will communicate to shareholders. Even LOC may have been granted to US based subsidiary instead of parent. In that case they are not obliged to inform exchanges.

[buffet]

@drjaysee thanks for providing update. I appreciate you spent time & efforts to inform every1. I am also puzzled why can’t management simply inform the same through exchanges. Anyways let’s wait & watch for few more days.

[buffet]

@sobha I agree..Very simple thing – if some1 don’t believe in particular post, simply ignore. If someone genuinely trying to help or share something important,please don’t discourage them. I am really not sure what’s problem. We all are matured enough. Let’s not call eachother this nd that. Otherwise this forum will turn out to be another MC board.

[buffet]

Any way we can check or ask exchanges to expedite the warrant approval for the sake of dividend payment. I know it is a big ask. At least, there has to be some way to track PW approval status.

[buffet]

@admin & @rathi_b,

Please do share outcomes of SKR meet to this forum whenever it would happen. Its upto individuals to believe it or not. If anyone doesn’t like it, they can ignore it. But let’s not deprive the believers from any important information.

As retailers, I think we should learn to trust eachother. I truly believe @rathi_b & team have done fantastic job by reaching out to SKR directly. It has helped many like me to calm our nerves. Hopefully last of these dark clouds would bring soothing rain & reward every1 handsomely.

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