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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
A SEBI order calling for a forensic audit has sparked concerns about the digital advertising solutions firm’s business practices.
On 28 February, Hyderabad-based digital marketing solutions company Brightcom Group made a startling revelation. It said it had received a notice from the Securities and Exchange Board of India five months ago, intimating it of a forensic audit of its books. SEBI’s notice was received on 16 September 2021, a day before the company announced that it was going to raise over Rs 500 crore through a preferential allotment of warrants.
Starting June 2021, until the day the company made the disclosure to stock exchanges, Brightcom’s shares performed spectacularly even as investors were in the dark about the SEBI order. …
