[lycos.rags.to.riches]

Upper circuit is a temporary relief to reduce some tress. Unless we get some positive notification from BCG on any of the pending issues, we shouldn’t get excited by the upward movement of share price.

[lycos.rags.to.riches]

There is no doubt on the Authenticity of the financials/subsidaries(atleast for me).Only issue was how they were managed. Parent company had no control over the subsidaries, each subsidary was run as a seperate company. Limited effort was made to consolidate the subsidaries and its financials. Parent group needs to have an auditor other than E&Y to do periodic audit of the financials audited by E&Y and other auditors of subsidaries and do a consolidated Audit.
Over the past decade, company finanicals have grown, but the cashflow was within the subsidaries,Group companywas merely reporting consolidated financials and generated miniscule revnue

I hope whatever has happened has happened for Good, SKR is good for CTO/chairman not for CEO. CEO is a person whose actions will be determined by the goals set by the boards which ultimately will be to increase the value of the company and its shareholders.

I pray whoever is appointed as a executive director brings in more professionals to the board and appoints the right person to take the company forward.

Suffering will be temporary if things are set straight now.

[lycos.rags.to.riches]

Hope we get an update from the board today/tomorrow. Basically it is a two member board now, not sure how much Vijay is part of all this mess.Not sure how much Nilendu is involved in corecting this mess.I am sure other two directors are appointed for namesake.
Our only hope remains with Peshwa, whome we ASSUME is working to correct this mess. Based on the on calls no one ever would have thought that BCG would be in the situation we are in and the frustration/shock that SKR is the one who created all this mess, the one who was answering all the investor queries and told we would see a different BCG in 2023 than 2022. SKR has been decieving the shareholders all through this years, i assume he used the Goenka’s earlier to keep the price under control, SS to increase price and then LLP to get cash into his account. The stock price was well orchestrated by the promoter over the years with a beautiful answer that with business growth the stock will find it value, while all these days it was under his control.

[lycos.rags.to.riches]

I would say need of the hour is periodic updates from the board. I accept they can’t name the new CEO immediately. But below updates could help pacify the anxious investors.
Transition Team members – Board has formed a transition team with the following team to oversee the smooth transition of the management, including executives from the subsidaries as part of the transition team will greatly improve the investor sentiment, as currently only SKR was running the show.
Reply to SCN – New team should give a clear picture of where the company stands on SCN, whether the company will request for more time to respond.
Assurance from the transition team – We dont see any issues with the business operations of the company due to the ongoing events and the investors are rest assured that the financials of the company are sound to sail through the events. If Vijay Kancharla as one of the founders provides the assurance then i think fall might stop or someone has to buy atleast 20 Cr shares from open market to change direction.

[lycos.rags.to.riches]

@rathi_b thanks for your effort. SKR has confirmed the mentioned points in the concall as well that company is taking all efforts to solve the pending issues and business growth is on track.
Do we have any timelines from SKR on when will this get solved(Things which are under his control)
Why did they get into such a situation, what are they planning to avoid getting into such situation
Are they planning any analyst meet to bring in big investor
What steps are being made to improve market sentiment(apart from solving issue, QOQ growth is not showing improvement in stock value)

if you can provide additional details on your meeting it will be helpful.

[lycos.rags.to.riches]

Good Morning Friends.. Hope everyone is taking utmost care of themselves in this tough situation.

[lycos.rags.to.riches]

Yes Kris, Patience is a very familiar term in BCG, we have been hearing few words like ‘Patience’, ‘light at the end of the tunnel’, ‘inflection point’ for years now in BCG.

[lycos.rags.to.riches]

We are not seeing any improvement in share price even after allotment

[lycos.rags.to.riches]

Anyone having any idea on the release of pledged shares after Axis loan closure.

[lycos.rags.to.riches]

18 Months – Are you guys really crazy, In BCG we never know what is going to happen next month its all if’s and but till now which we investors are assuming. As promised by SKR only if he improves corporate standards we can estimate anything.

[lycos.rags.to.riches]

By the way i assume BCG should have got back the 30 crores blocked by Axis, since the case is closed now.

[lycos.rags.to.riches]

Closure of Loan will be a price sensitive information. Not payment of 5 crores.

[lycos.rags.to.riches]

Anyone got reply from IR team regarding the conf call duration.

[lycos.rags.to.riches]

can we expect PW approval tomorrow, before the weekend conf call

[lycos.rags.to.riches]

I am not seeing Peshwa Acharya in the list of directors in the brightcom groupwebsite. I remember seeing it couple of weeks back. Do you guys think it might be a mistake of excluding him when the https changes were being done on the website or something happened which we are not aware of.

[lycos.rags.to.riches]

Need of the hour is to analyze the management ethics, if the management is not following corporate standards then even if the company is better than google the price is never going to appreciate.
The point is we remain silent when the price goes up and start discussing when the price goes down. I think we need to keep the management under check till they deliver.
Till now they didnt give details of what they are going to do with the PW money for the first and second warrants, they only gave high level detail to clear debt. They shud have given more detail.

[lycos.rags.to.riches]

Hi DH, Can i request you to put the information regarding the LOC you received in this forum. Lets dissect all information good or bad.

[lycos.rags.to.riches]

It is difficult for me to understand why LOC and warrants are linked. I assume warrants will not be required if LOC is approved.

Warrants for Muskaan is blocked
Warrants for 54 share holders approval in progress
LOC in progress.

Are we saying if all issues are resolved BCG is going to get more than 500 crores.

[lycos.rags.to.riches]

valid point @imposiblznuthin. Some warrants could have been issued to retail investors.

[lycos.rags.to.riches]

Thanks @drjaysee for sharing the info. I am very curious to know how did SKR even find these investors. Couple of individual investors are being given 40,000 shares around 3 lakh rupees.

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