Stones, Frogs, and Divine Dividends: Piramal’s Philanthro-Capitalist Lila
Stones, Frogs, and Divine Dividends: Piramal’s Philanthro-Capitalist Lila Posted on 22nd February, 2026 (GMT 08:48 hrs) ABSTRACT This incisive satirical exposé reinterprets Aesop’s fable of boys throwing stones at frogs as a metaphor for the Piramal Group’s “doing well by doing good” brand of philanthro-capitalism. Blending fable, philosophy, and forensic critique, the piece dissects how corporate strategies cloaked in Vaishnava discourse and Gandhi-branded CSR have enabled empire building that yields profitable acquisitions and regulatory clearance while exacting severe costs from ordinary depositors, small investors, and vulnerable communities. Using the DHFL insolvency resolution as the central case study, it reveals how retail creditors endured steep haircuts, potential fraud recoveries were acquired for a token amount, and corporate reputation was polished through strategic philanthropy and market optics—even as environmental and social harms persist. The narrative extends i...
