Stay updated with breaking news from Brightcom Group Ltd. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Brightcom Group share price: On Brightcom's part, there have been delays in terms of financial reporting, annual general meeting (AGM) scheduling and C-suite level appointments. It was also under Securities and Exchange Board of India's (Sebi's) watch over preferential issue of shares and warrants.
Brightcom Group has been removed from Nifty Microcap 250 index, Nifty Total Market index and Nifty 500 Value 50 index. Ujjivan Financial Services was excluded from the Nifty Microcap 250 and Total Market index
Shares of Brightcom Group Ltd (BCG) cracked about 7 per cent during the trading session Thursday after Sebi's confirmatory order.
SEBI had issued an interim order on August 22, 2023, and on February 28, the markets regulator issued a confirmatory order, confirming the directions it gave for 20 of the 25 noticees in the Brightcom Group case.
Confirming its interim directions against 20 entities in the Brightcom Group Ltd (BGL) matter, the Securities and Exchange Board of India (SEBI) suggested an examination and action if required by the directorate of enforcement (ED) in the settlement of loans advanced to M Suresh Kumar Reddy, former chairman and managing director (CMD) and his companies abroad through allotment of shares in India.