[rpm87]

Typically, in case shares of the promoters are frozen and the company is non-compliant, SEBI will push such scrips to the Group Z category. To the contrary, this one was pushed to the Group A category in March or April 2022?

[rpm87]

@jagasworld, I wrote to them mentioning that my dividend had not been credited yet. In response, I received an email enquiring about my Client ID and DP ID. Both these details are available in the Zerodha App if you look at the “My Account” Page. For other portals or brokers, it may be different.

However, after I sent these details, the dividend was credited today afternoon via NEFT.

I hope this works for you as well!!!

[rpm87]

Received the dividend today. (Axis account linked to Zerodha.) This was after a follow up email with investor relations (ir@brightcomgroup.com). Hope everyone else receive their dividends soon.

[rpm87]

Brightcom launches new media offices in Berlin (updated on LinkedIn).

https://www.linkedin.com/feed/update/urn:li:activity:6765611209766010881/

[rpm87]

I haven’t received the dividend as yet. Zerodha account linked to Axis here. Will wait this week before I lodge a complaint. BCG has taught me, among other things, the art of waiting.

[rpm87]

On reading Section 124 of the Companies Act 2013 (listed below):
124.
Unpaid Dividend Account
(1) Where a dividend has been declared by a company but has not been paid or claimed within thirty days from the date of the declaration to any shareholder entitled to the payment of the dividend, the company shall, within seven days from the date of expiry of the said period of thirty days, transfer the total amount of dividend which remains unpaid or unclaimed to a special account to be opened by the company in that behalf in any scheduled bank to be called the Unpaid Dividend Account.
(2) The company shall, within a period of ninety days of making any transfer of an
amount under sub-section (1) to the Unpaid Dividend Account, prepare a statement containing the names, their last known addresses and the unpaid dividend to be paid to each person and place it on the website of the company, if any, and also on any other website approved by the Central Government for this purpose, in such form, manner and other particulars as may be prescribed.

(3) If any default is made in transferring the total amount referred to in sub-section (1) or any part thereof to the Unpaid Dividend Account of the company, it shall pay, from the date of such default, interest on so much of the amount as has not been transferred to the said account, at the rate of twelve per cent. per annum and the interest accruing on such amount shall enure to the benefit of the members of the company in proportion to the amount remaining unpaid to them.

Based on my understanding of the above, technically a delay is possible without much problems to the founders. This could be to allow time until the PW are approved. For all the twists and turns, this guy has taught me quite a bit about the stock market and the Companies Act. Hope everything goes well with everyone!!!

[rpm87]

For anyone on the forum who would love to understand how the restructuring came about in Subex, please visit https://commsrisk.com/subex-cfo-proposes-major-capital-restructuring/.

Subex story is very similar to Brightcom, huge beginning, an overpriced acquisition in 2007, finally something that looks like a turnaround in 2020, (collab with TechM and other news, https://www.livemint.com/companies/news/subex-aims-for-growth-by-expanding-business-beyond-telecom-11607593460185.html).

Again, BCG has consistently disappointed without exception, as such, please do not take my speculation as an argument to stay positive. With SKR, intrigue and disappointment has been the norm. Good luck to one and all!!!

[rpm87]

@drjaysee Your post on the similarities between Karuturi Global and Brightcom were interesting.

I have been following both UNO Metals and AKG Finvests shareholding patterns and deals for some time. Both have invested in Subex, Brightcom, Moldtek Packaging. If anyone has been following the Subex story, its another turnaround story, huge debt clearance followed by capital reduction following which the shareprice increased to INR 30 last month with good news of TechMahindra collaborating with them for blockchain tech.

Close on the heels of Subex, 3iinfotech is at the NCLT seeking capital reduction which decision is deferred to Jan 21, 2021. The share has been hitting UCs for the past few days expecting the decision to be positive.

I do not know what to make of these patterns or information and how it is connected to the ongoing Brightcom saga. Are we part of a pump and dump operation? I am a recent investor, however, I empathize with the long term investors in this script. May God bless us all!!!

[rpm87]

@Logan I think the BDO audit was not done since the consolidation of group companies were put on hold. Only the Israel subsidiary OMS was audited by EY, at least that is what I remember, I may be wrong.

[Author]

Posts