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sateannaRegistered Boarder
Axis probably the easiest to Solve amongst all the issues now, why are they dragging is beyond any reasoning Even the Daum issue there are so many ways to close. No news on LOC either. At least OAK exited on its own, else it would have been another stalemate. The pain of retail investors continues.
9+sateannaRegistered Boarder@aindia good analysis, all figures point upwards..lets see how this translates to top & bottom lines.
sateannaRegistered BoarderSept 1 is the next hearing on Axis Bank, hope we can see closure on that date.
4+sateannaRegistered BoarderCould be because of US elections ..but doubt whether these numbers will reflect in the Q1 results.
0sateannaRegistered BoarderAs per the latest SHP, SKR & Vijay Kancharla listed as NRIs under promoter holding. That’s the reason probably SKR is taking his salary from the US Subsidiary and not disclosing it in the financials.
4+sateannaRegistered BoarderGood sign.. Will it be safe to assume LOC will be through before that ??
sateannaRegistered BoarderLooks like there’s an informal agreement of Axis Loan settlement, hence BCG has sent a proposal to Axis, they have mentioned that they have already consulted Axis Officials. Hopefully will now close quickly. I hope the majority of the pledged% is with Axis only.
sateannaRegistered Boarder@saulgoodman Ignore those clowns in MMB, they are frustrated for some reason or another. Its a waste of time even talking about MMB forum. You have done a whole load of analysis which gives a positive picture of BCG and we are thankful for that, now we wait for SKR deliver on his promises. God bless us all.
sateannaRegistered BoarderThe only season this could be extending is axis sticking to its guns for 41 cr where as bcg was expecting 8 crore.. Don’t be surprised if this Drags on for a quite a bit now… BTW isn’t the company supposed to update the exchanges on the status of the case??
5+sateannaRegistered BoarderNext hearing on 12.08.20 as per NCLT site
https://nclt.gov.in/sites/default/files/July-Interim-Order-pdf/Doc046060_006.pdf
3+sateannaRegistered BoarderThis OAK handling is a disaster. SKR assured that these shares would not hit the market and he has a buyer for the same. One more broken promise.
2+sateannaRegistered BoarderGood point @nitin_asce .. It just goes to show what SKR was telling is true. He mentioned that he had to pay his creditors immediately, whereas he would receive only after 90 days or so…Only thing that worries me is the aging of the receivables. SKR claims that none have gone bad & need not be provisioned for.
3+sateannaRegistered Boarder@george : Pressman is into print advertising and cannot be compared to BCG. In fact BCG has no listed competitors except Affle. Also 80% of BCGs business is outside India. Having said that BCG has lost big time on opportunities by not acting on its issues for so long. The management has realized this now and working at good speed to resolve the legacy issues. 2020-21 will the inflection point as the CEO mentioned. Rest is upto the market on how it wants to treat BCG. As long term investors we continue to be hopeful, patient & wait…….
4+sateannaRegistered BoarderAxis bank should be done & dusted quickly. This is also like Daum prolonged for a fair bit expecting a few crores benefit. Management needs to clear the legacy issues asap to restore confidence of investors and by looking at the future business. Lot of time effort & money has been wasted on these.
sateannaRegistered BoarderHow much the B local Exchange & the increase in traffic is going to contribute to the top & bottom line needs to be seen. With Lycos numbers also not considered for the overall picture, we can expect a decent growth even without the LOC in place. With LOC and all the above hopefully, this year we will see record figures for sure.
sateannaRegistered BoarderRegarding the Axis bank case, looks like its not an easy settlement. The below is the gist posted on MC forum
NCLT accepts petition of Axis bank to freeze the preference offer amount until the case is disposed of. Now there are two cases by axis. One in nclt and the other in debt recovery tribunal. BCG says they have one time settlement agreement for 22 crore and have paid 14 cr. But bank is claiming 41 cr.Next hearing is on 28th July.. We might be in for a long haul on this one too.
1+sateannaRegistered BoarderYes Saul, u are right. We also entered as retail investors, didn’t have a clue about the company when we entered in this. Over a period of time started to understand, analysed, attended conference calls and now its almost like we will hold it for life. From the concall its very evident that LOC is going to be the game changer. SKR mentioned 25-30% increase in business with immediate effect after the LOC is in place. Market has no choice but to take notice of the growth of the company. By the time the LOC is in place issues like Axis Bank, Pledged shares, Daum issue will take care of themselves. Till such time operators will continue to have a field day and we have to live with it. Patience is the key, we have been patient for so many years, just a few months before BCG starts to blossom. 2020 has been a pain year for everyone, but for us BCG investors its going to be the beginning of a prosperous journey.
sateannaRegistered BoarderThe balance pledged shares are likely to be related to Axis Bank. This can also be expected to be closed in the 2nd quarter. SO BCG could effectively pledge fee company by 30.09.2020, which is a real positive and shows the pro activeness of the management to settle legacy issues.
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