Myshport

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  • in reply to: General Discussion #27071
    Myshport
    Registered Boarder

    A dim light at the end of the tunnel.

    https://www.bseindia.com/xml-data/corpfiling/AttachLive/6a4f5898-e76c-461e-b9e9-fd202fc760bd.pdf

    Outcome of the Board Meeting held on 01 Sep 23

    in reply to: General Discussion #25776
    Myshport
    Registered Boarder

    The frustration level of all investors of Brightcom is palpable. The extremely low valuation of the stock price, with a PE of just 2.6 against the industry PE of 28.39 (as per Moneycontrol), and the current Marketcap of just 3552 Cr is the main reason for this frustration.

    It is obvious that the stock is being manipulated by the operators but the reason for the same is not clear. Obviously, as investors, we expect the promoters to step in, in whichever way they can, to curb this price manipulations … unless the promoters themselves want it to continue. This, lack of corrective action by the promoters, is the main reason why a lot of people have started using abusive language against the management.

    I am not clear as to what we, as the investors in the company, can do to prevail upon the management to take some positive actions, other than sending them emails etc.

    Since the company is performing exceptionally well, with very sound fundamentals, and is quoting at such low valuations, I wonder why some Biggy (like Reliance/ Adani) have not planned to take over the company through an Open Offer.

    in reply to: General Discussion #11181
    Myshport
    Registered Boarder

    Reference #11171

    If all the information, of the “dirty games” being played by the management, is available then why do we have to wait to expose these games?

    It is very frustrating to see the massive manipulation which is going on to ensure that the share price remains within the range of the PWs.

    I hope this company does not end up the same as Satyam, where the management managed to “fool” its shareholders for a considerable length of time.

    in reply to: General Discussion #10284
    Myshport
    Registered Boarder

    Reference #10279

    I have sent the following email to Investor Relations.

    Non receipt of Dividend Ref.No. Folio No.:1203040000103569 Name: RAMESH SHARMA

    Ramesh Sharma <14razer@gmail.com>
    8:59 PM (0 minutes ago)
    to ir

    Dear Investor Relations,

    Ref.No. Folio No.:1203040000103569
    Name: RAMESH SHARMA

    In the 21st AGM of the company, held on 28 Dec 20, the company declared a dividend of 2.5% which was to be paid by 25 Jan 21. I regret to state that NO dividend has been credited to my account till now.

    I am sure that you must be aware that as per Companies Act 2013 the company is required to make the payment within 30 days of declaration of dividend, failing which the company is liable to pay interest @18% per annum for the period of default.

    Please ensure that the dividend is paid urgently to avoid the interest payment.

    Please also note that, in case of default, I will be constrained to lodge a complaint with SEBI.

    Please acknowledge receipt.

    Regards,

    Ramesh Sharma

    in reply to: General Discussion #10210
    Myshport
    Registered Boarder

    Reference #10197 regarding the complaint to SEBI.

    In all earlier cases, SEBI sent the complaint to the concerned company for its comments and no further action was taken by SEBI. There have been numerous cases in the past where complaints were raised by the shareholders and, instead of investigating SEBI just forwarded the complaint to the company.

    It is a very sad state of affairs that the Brightcom Group lacks proper Corporate Governance.

    We will have to request the group of investors, who reside in Hyderabad, to take up the Corporate Governance issues with the management during their next meeting with SKR.

    in reply to: General Discussion #10163
    Myshport
    Registered Boarder
    in reply to: General Discussion #9517
    Myshport
    Registered Boarder

    Reference #9502

    As inferred from this article, the promoters are expecting the price to start moving up.

    In any case, once the Axis and Daum cases are settled the stock should find its correct valuation in the market. This may happen soon hence the Preferential Warrants.

    in reply to: General Discussion #9328
    Myshport
    Registered Boarder

    Reference #9325

    I get a feeling that, for obvious reasons, the price is likely to be maintained at these levels till the Axis Bank payments are completed. I think another boarder had also hinted at this in one of the earlier messages.

    Change in price, if any, should happen post the Axis Bank settlement.

    3+
    in reply to: General Discussion #8676
    Myshport
    Registered Boarder

    Just two points from my side that, I strongly feel, need to be addressed by the company. These are as follows.

    a) Corporate governance, adequately highlighted in the Forum.
    b) Investor Relations Department needs to be “Investor” friendly. They must, at least, show us the courtesy of an acknowledgement to our emails.

    Will be obliged if these are taken up, strongly, during the upcoming meeting with the management.

    in reply to: General Discussion #8545
    Myshport
    Registered Boarder

    Reference #8530

    https://www.bseindia.com/stock-share-price/brightcom-group-ltd/BCG/532368/disclosures-insider-trading-2015/

    Details of the shares acquired by Mr Reddy.

    Hopefully, the market sentiment about the company should improve.

    3+
    in reply to: General Discussion #8543
    Myshport
    Registered Boarder

    reference #8521.

    It does not seem so because the High Court order, on the subject, is very clear.

    The case CAN NOT be heard at two different Tribunals at the same time.

    0
    in reply to: General Discussion #8520
    Myshport
    Registered Boarder

    Reference message #8512.

    As I had mentioned earlier also, I had sent an email to the Investor Relation department on the subject where I had pointed out that the case CAN NOT be heard in NCLT as it is already with DRT.

    As is the norm with the company, I did not even get an acknowledgement let alone any information about any action taken by the company.

    The company’s lawyer needs to point this out to NCLT to close the case there.

    I recommend that anyone who is in Hyderabad could meet someone important in the company and apprise them about this ruling.

    5+
    in reply to: General Discussion #7905
    Myshport
    Registered 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.

    in reply to: General Discussion #7716
    Myshport
    Registered Boarder

    Refer Message #7708

    I have sent the following email to the company

    Ramesh Sharma <rnsgss@gmail.com>
    6:23 PM (1 minute ago)
    to ir

    For kind attention of Mr SK Reddy,
    Founder, Chairman, CEO and MD
    Brightcom Group

    Dear Mr Reddy,

    I had earlier sent you an email suggesting a foolproof method of settling the DAUM issue. I wonder if you have seen that email and are seriously considering my suggestion.

    I am now writing to you with regards to the case filed by Axis Bank in the NCLT.

    I am a member of the Brightcominvestors Forum and there someone put up a link to the following article published in the Economic Times of 11 September, 2017. The link to that article is https://economictimes.indiatimes.com/industry/banking/finance/banking/high-court-disallows-parallel-proceedings-in-nclt-and-drt/articleshow/60457703.cms?from=mdr
    High Court disallows parallel proceedings in NCLT and DRT

    I have also read the NCLT order dated 08 July, 2020 as given in https://nclt.gov.in/sites/default/files/July-Interim-Order-pdf/Doc045861.pdf

    The mere fact that the NCLT has “… taken up the complaint for hearing as an urgent matter”, clearly indicates the concerned members of the NCLT were not aware of the abovementioned High Court order, although your Counsel had submitted that “When similar petitions are pending before multiple forums, doctrine of res subjudice applies, and thus, the question of urgent hearing of IA No 181 of 2020 does not arise”. From this statement it is obvious that your Counsel did not quote the High Court ruling on the subject.

    Therefore, I recommend that the NCLT be apprised of this ruling to enable them to deal with the complaint, accordingly.

    Regards,

    Ramesh Sharma

    in reply to: General Discussion #7701
    Myshport
    Registered Boarder

    Reference the Economic Times article given in #7686, which clearly states that the case cannot be taken up with NCLT when it is already being dealt with by DRT.

    This should have been cited by the company’s lawyer in the hearing on 09 July, 2020 at the NCLT.

    Some one close to the management needs to bring this to their notice as it will help solve the Axis Bank issue in the DRT.

    in reply to: Questions to ask / Post-Conference Update #7664
    Myshport
    Registered Boarder

    @odysee I am not too sure about Mr Reddy knowing about this procedure. This is based on his statement “…And there was a challenge in terms of giving — handing off a cashier check and taking a signed agreement”.

    If an Escrow Agent is used then there is no question of any “challenge”.

    Anyway, it is up to Mr Reddy to decide on his best option.

    2+
    in reply to: Questions to ask / Post-Conference Update #7652
    Myshport
    Registered Boarder

    I have sent an email ti Investor Relations giving my suggestion on how to settle the DAUM issue without any serious concerns of fraud. The email is given below.

    Ramesh Sharma <rnsgss@gmail.com>
    10:39 AM (2 minutes ago)
    to ir

    For kind attention of Mr SK Reddy,
    Founder, Chairman, CEO and MD
    Brightcom Group

    Dear Mr Reddy,

    I am a small time investor in your company and I am writing to you with regards to your concern regarding the DAUM settlement.

    I have, recently gone through the Edited Transcript of LYCOS.NSE earnings conference call or presentation 2-Jul-20 11:30am GMT
    Thomson Reuters StreetEvents Thomson Reuters StreetEventsJuly 3, 2020

    Your concern, regarding the settlement, as stated by you, is as given below.

    Quote.

    Then coming to Lycos and Daum settlement. We were — in January, we had a settlement agreement ready to sign. We were to pay the first payment in January. And there was a challenge in terms of giving — handing off a cashier check and taking a signed agreement. And that’s where it stopped. Unfortunately, due to all the things, we couldn’t go to Korea, they couldn’t come to India, all these things kind of in a standstill state. And so that is where it is. We are trying to revise that now. But it’s probably best to go 1 shot and close it instead of having this 2-phase process. Once this funds are available, debt to go across and I can close it. So we are in that discussion right now. And I feel very strongly this is a done deal, there’s nothing to be concerned about. And we will immediately let you know as soon as we have a solution there.

    Unquote

    My recommendation, to address your concern of “… there was a challenge in terms of giving — handing off a cashier check and taking a signed agreement” is as follows.

    A foolproof method to ensure that the transaction goes through, without any hitch, is to route it through an Escrow Agent. This is the route followed for all, high value, aircraft sales and purchases. I am sure someone in your setup will be aware of this and can advise you accordingly.

    Please do consider this option.

    As I see it, the market perception of the company appears to be based on this one issue ie DAUM settlement. I am very sure that once this problem is taken care of, the market perception will also change.

    Regards,

    Ramesh Sharma

    in reply to: General Discussion #7315
    Myshport
    Registered Boarder

    The audited financial results show the following.

    1) 1. The company has defaulted in repayment of dues to Axis Bank and the account is NPA.
    2. With respect to Income Tax, TDS the company is not regular in depositing with
    appropriate authorities.
    3 The subsidiary company M/s. Ybrant Media Acquisition Inc has acquired M/s.
    Lycos Inc., M/s. Ybrant Media Acquisition Inc has dispute in respect of consideration of USD 16 Million for acquisition of M/s. Lycos Inc., to Daum Global Holdings Corporation and the district court of New York has given judgment to handover back 56 % equity in M/s. Lycos Inc to M/s. Daum Global Holdings Corpéfe ae
    and the concern matter is pending as on date.

    I thought these points were being taken care of by the management and I was looking forward to some positive comments on these issues.

    In my opinion, till these issues are resolved, the market is not likely to take notice of this company. I may be wrong.

    5+
    in reply to: General Discussion #7135
    Myshport
    Registered Boarder

    Very unprofessional of the FII, if it has broken the contract with the company ( of a planned exit to another investor). The loss is entirely theirs.

    With the regular updates by the company (of their planned actions) the market will slowly realise its potential and, hopefully, will raise the stock price to its correct price.

    0
    in reply to: Shareholding Pattern – Analysis #6459
    Myshport
    Registered Boarder

    #6443

    Srinivasa, the link of the latest shareholding pattern on BSE is https://www.bseindia.com/corporates/shpSecurities.aspx?scripcd=532368&qtrid=105.01

    As per this, “Promoter and Promoter group” holds 36.72% of shares (as against 73% mentioned by you).

    Am I missing something here?

    However, if what you have stated is correct, then, as per me, it is a very big “positive” for the company.

    0
Viewing 20 posts - 1 through 20 (of 24 total)