DHFL Scam and the Death of Public Trust: Time for a Truth and Accountability Commission!

Posted on 15th August, 2025 (GMT 07:30 hrs)

ABSTRACT

This appeal calls for the creation of a Judicial Truth and Accountability Commission to investigate the Supreme Court’s April 1, 2025 verdict on the DHFL insolvency case, which allegedly legitimised a flawed resolution plan favouring corporate interests while wiping out the life savings of lakhs of small investors, including widows, senior citizens, and the differently abled. Citing alleged collusion between regulators, the RBI-appointed CoC, and corporate actors, as well as parallels with electoral manipulation, it frames the case as part of a broader pattern of financial authoritarianism under the NDA regime (2014–ongoing). The Commission is envisioned to audit judicial reasoning, regulatory conduct, and the IBC process, outlaw SLAPP suits, and ensure systemic reforms so that courts and institutions uphold constitutional accountability over corporate power.

“In a time of universal deceit, telling the truth is a revolutionary act.” (attributed to George Orwell)

Friends, Namaste and Adab!

Our independence day celebrations are far from being over. That is because we are indeed in-dependence of one another in our collective struggle to reclaim our voice.

In today’s India—BJP-ruled, post-truth, and power-drunk—we are witnessing the complete capture of our democracy, stripped of its very foundations: truth and accountability.
The Election Commission, the Enforcement Directorate, the CBI, the Income Tax Department—institutions meant to safeguard citizens—have been reduced to tools of the powerful, silencing every voice of dissent.
#VoteChori isn’t just a hashtag—it’s reality. And presiding over it all is the King Liar—Narendra Modi—the master craftsman of manufactured untruths, who occupies the Prime Minister’s chair while flaunting a false degree in a non-existent discipline called entire political science.

[DISCLAIMER: Please note that we are non-partisan political activists. We advocate for a partyless society⤡ and do not support any existing political party]

[Sarcasm Intended Under Plutocracy]

Worse, the manipulation we see in elections also infects our economy.
Investigations reveal disturbing parallels between rigged vote counts in the elections, and shady voting in the DHFL corporate insolvency process—technical “glitches” during CoC voting, procedural flaws, and zero transparency.
This is more than a financial scam—it is a direct attack on democratic trust.

But the rot goes deeper—it reaches our courts.

On April 1, 2025, the Supreme Court upheld a resolution plan for Dewan Housing Finance Corporation Limited—a plan that wiped out the life savings of lakhs.
Widows, senior citizens, families of retired army officers, philanthropic institutions, and the differently abled—extinguished.
Meanwhile, an allegedly favoured corporate figure walked away smiling.

This verdict, delivered by Justice Bela M. Trivedi and Justice S.C. Sharma, reportedly bypassed the critically scrutinization of the RBI-appointed Committee of Creditors (CoC)-led resolution process of the DHFL.

Multiple RTIs filed by our Once in a Blue Moon Academia to the RBI, IBBI, and CAG found no records of how or where the CoC spent its money.

When the government—through Solicitor General Tushar Mehta—had the chance to defend the people, it defended the corporate deal instead.
Justice wasn’t just denied—it was weaponized against the victims.

Those DHFL victims who dared to speak out were met with SLAPP (Strategic Lawsuits Against Public Participation) suits—pure legal intimidation, meant to silence dissent and warn others not to challenge injustice.

This is not one betrayal—it is a dangerous pattern: financial authoritarianism, where courts, regulators, and corporate cronies work together to crush citizens and protect oligarchs.

But how can one claim truth in a domain dominated by untruth, where institutions themselves are embedded in systemic lies? This is precisely why a Judicial Truth and Accountability Commission is indispensable.

That is why we urgently need a Judicial Truth and Accountability Commission—especially in an India where corporate agendas override people’s needs.

In fact, we have already submitted a formal memorandum demanding this Commission. The memo was sent via email to the highest constitutional and judicial authorities in India:

The Hon’ble President of India

The Hon’ble Chief Justice of India

The Hon’ble Chairperson, Law Commission of India

The Hon’ble Chairperson, Standing Committee on Law and Justice

This Commission must:

• Investigate the DHFL verdict and judicial reasoning.
• Examine the role of regulators, rating agencies, and auditors.
• Audit the IBC process that enabled this corporate takeover.
• Recommend structural reforms to ensure verdicts affecting millions are transparent and ethically reviewed.

Let me say it again—without a Truth and Accountability Commission, there can be no justice in a corporate-captured democracy.
Judicial immunity must never become judicial impunity.

We do still remember NCLT’s 19th May, 2021 order and the NCLAT’s 27th January, 2022 order on the DHFL resolution.

We do not want revenge against any individual—we want systems change.
We want a judiciary that answers to the Constitution, not corporations.
We want SLAPP suits outlawed.
We want institutional memory so these betrayals are never erased.

If you believe truth matters, if justice must protect people—not power—sign the petition link provided in the video description box.
Share it. Demand it.

Because Silence is complicity.

In Modi’s India of lies, speaking truth—and establishing a Truth and Accountability Commission—is the first act of resistance. Holistically speaking, this commission will not be limited to DHFL scam alone but will critically examine the entire NDA regime’s actions from 2014 to 2025.

Justice for DHFL Victims: Demand a Judicial Truth Commission Now! (AN ONLINE MASS PETITION)

 SIGN HERE: https://chng.it/rndVPmFY8z

This petition calls for a Judicial Truth and Accountability Commission to investigate the DHFL insolvency verdict, which allegedly enabled corporate expropriation of small investors’ savings. It questions the Supreme Court’s role in upholding a reportedly flawed resolution plan, flags collusion among regulators, the CoC, and Ajay Piramal, and frames the crisis as a human rights issue involving massive financial abuse.