The company has issued a statement after the submission of SEBI notice directly to the exchanges in which it has clarified that the company has been working with the regulator SEBI since September 16, 2021. In NSE, the shares are currently locked at the lower circuit limit for the day at Rs. 113.10 and locked in the lower circuit limit for the day with pending sell order for 6606427 equity shares. 5.65 or 5% from the previous close of Rs. In BSE, the equity shares are currently trading at Rs. The stock has been on a downward spiral and lost nearly 47.50% after the stock hit its 52 week high of Rs.

The equity shares of the company have been on the rise for last several months with a 52 week low of Rs. The above SEBI notice raises question on why the company didn't submit the notification to the stock exchanges as it had been dated Sep 16, 2021. The forensic auditors are expected to verify manipulation of books of accounts of the company and its subsidiaries, misrepresentation including of consolidated financials and / or business operations and wrongful diversion / siphoning of company funds by promoters / directors / key managerial persons. SEBI has said the scope of the audit is to conduct forensic audit of the consolidated financial statements of the company for the above period with a special focus on impairment of assets.

The company didn't submit the notice or gave any notification to the stock exchanges on time where its equity shares are listed. Interestingly, the SEBI notice was dated Septemand was submitted by SEBI directly to the stock exchanges only on February 28, 2022. The equity shares of Brightcom Group Ltd (BCG) has been on a downward spiral ever since SEBI announced the appointment of Deloitte Touche Tohmatsu India LLP as forensic auditor w.r.t the financial statements of BCG for the financial years FY 2014-15 to FY 2019-20 to assist the investigating authority.

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