[vkhare789]

Attachment shows bulk deals from moneycontrol. 80 lakh shares bought as bulk deals.
Something is cooking which retail investors are not aware about. I am not going to sell my shares until further announcement/development.

Attachments:

1. 

   BCG-bulk-deals.jpg
   

[vkhare789]

Thanks for highlighting this. 1 crore of volume definitely gives some hope that there is still some big player who might be interested in buying. They are capitalizing on fear present among retail investors. Still all is not over for BCG.

[vkhare789]

I would suggest that we should wait for company’s response. Definitely there is some problem in data and submissions but we should atleast give a chance to CEO and company to respond back. Lets not jump to conclusions right away.

[vkhare789]

@Logan
I think management read your comment and thus provided an update yesterday. But from their notification, it appears that they may have started to take some of corporate governance issues seriously. Two main that they mentioned:
1. The primary focus of Brightcom Group is to maximize value for its shareholders: Good to hear this from management. These words put faith in investors’ community.
2. We want to reassure our investors that the promoters are taking the necessary actions to cover the lost ownership percentage soon: This is great. This means that promoters will increase their ownership by atleast 0.03% which could even be more.

As a result, we are seeing upper circuit today.

[vkhare789]

I dont think money is paid yet else, they would have disclosed it by now.

[vkhare789]

Hi Logan,

Thanks for your comment. Regarding Daum settlement, in January, Mr. peshwa said in conference call that they have found a way to transfer money through a bank which has common presence in both countries. And they have found a mechanism as well which is through letter of credit. Also, he added that it wont be long before this matter is resolved. Today, it has been more than 6 months and there is no update of daum case. In the world of digital payments where money transferred in super fast speed, taking this much time raises question on management communication, thought clarity and execution. I hope that they eventually will take good business decision but time taken to take that decision and communication on that decision are also very important.

[vkhare789]

@Logan
I think main reason why most analysts are anti-BCG because retail investment in BCG is high and they don’t want retail investors to get rich. Most of these analysts are paid analysts who are paid by existing shareholders(FII/DII/HNI etc.) of companies to publish positive reviews so that there wealth can be protected or increased.
Unfortunately in case of BCG, we don’t have much of FII/DII participation so even though BCG has good valuation and financials, they wont support BCG unless they get good investment from these big investors. We have to stand firm on our analysis and remain invested. Hope that the present time is 4AM for BCG.

[vkhare789]

Please have some patience. It will be uploaded by EOD tomorrow.

[vkhare789]

I got SMS in morning that haircut in BCG will be increased to 100% by Apr 20th which means that there wont be any use of share pledging and shareholders wont be pledging their shares and which will reduce pledged %. Should be a good thing for shareholding pattern.

[vkhare789]

Thats a big news!!

Attachments:

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   shankar-sharma-tweet.jpg
   

[vkhare789]

@T9C
You are right. This seems to be the final audit report.

[vkhare789]

I agree that negativity is already priced in for this stock. Next week, fearful retailers will try to offload shares while institutions will continue buying. Lower price levels of 10-12 can be seen however, as per my understanding, once offloading from retailers is complete, price should move upwards. Proper corrective measures in next 1-2 years can take price near to its fair value.

[vkhare789]

So it was an off market transfer of shares to another party. How can they even think that it could be pledging of shares. Pledge theory was brought in to misguide and cheat investors. Those shares are sold shares and will never come back..

“….From the above, it was observed that the promoters had referred to the off
market transfers done from their Demat accounts as pledge of shares.
However, as per SEBI master circular for Depositories dated October 25,
2019, ‘…an off-market transfer of shares leads to change in ownership
and cannot be treated as pledge’. Accordingly, the submissions of the
Company were found to be untenable. In fact, there appeared to be a
deliberate attempt to disclose incorrect shareholding pattern…..”

[vkhare789]

[vkhare789]

Reddy should be sent to jail for such a serious crime..

[vkhare789]

Below excerpt, taken from audit report. Main objective of accounting manipulation was to take stock price higher and dump promoters shares. This is a planned fraud of top order.

“..The accounting irregularities, due
to which the Company could paint a rosy picture of its financials, can be said
to have impacted the decision-making process for all stakeholders including
public shareholders of BGL who were oblivious to such accounting
irregularities. It is also worth noting that during the investigation period, the
promoters’ shareholding in BGL decreased from 40.45% on March 31, 2014
to 13.96% on March 31, 2020 and further to 3.51% as on June 30, 2022. The
promoters thus offloaded shares at prices which were artificially propped up
by showing higher profits through accounting irregularities.
143. The abovementioned acts operated as a device/scheme to defraud the
investors in the securities market resulting in violation of Regulation 3(c), 3(d) 4(1) and 4(2)(f), (k) & (r) of SEBI (Prohibition of Fraudulent and Unfair Trade
Practices Relating to Securities Market) Regulations, 2003 [SEBI (PFUTP)
Regulations, 2003] read with12A (b) & (c) of SEBI Act, 1992….”

[vkhare789]

So much in loss that cant even sell my shares at such loss. now its only wait and watch game for me. regret my decision of not selling at right time. such a pathetic management and leadership..

[vkhare789]

I am also in to be a part of this association.

What are steps to fire existing CEO and appoint a new one? Company is built by long term shareholders. Our hard earned wealth is getting eroded by crappy management. We really need to unite and take action to change management else our remaining wealth will also go in dust.

[vkhare789]

How can we write to SEBI? Is there a complaint process for retail investors?

[vkhare789]

Patience is the key in this stock. People who invested in last one year have lost money. People who invested 3 years back and stayed on made great returns. I think when we have invested in such stock, we can not be near sighted. Lot of issues to be resolved and lot of surprises awaited. Definitely this stock is not for the faint hearted. 2022 was not a good year for BCG but we hope that 2023 will come with avenues of hope, positivity and returns. Hope that all issues including FA, daum and acquisition will see closure next year. Hope that by end of 2023, we can happily say that we invested in brightcom and we stayed on.

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