Hold Shah Rukh Khan Accountable for DHFL Endorsement! (An Online Mass Petition)

Posted on 5th August, 2025 (GMT 14:56 hrs)

ABSTRACT

This petition seeks urgent legal and ethical accountability from Bollywood actor Shah Rukh Khan for his role in endorsing Dewan Housing Finance Corporation Ltd. (DHFL), a company whose collapse in 2019 devastated lakhs of small investors. As brand ambassador during DHFL’s fraudulent operations, Khan’s public image bolstered investor trust in a failing institution. Under the Consumer Protection Act, 2019, celebrity endorsers are legally obligated to conduct due diligence—an obligation Khan appears to have ignored. OBMA thereby demands a formal CCPA inquiry, public apology, disgorgement of endorsement fees, and penalties to set a precedent for responsible celebrity conduct in financial advertising.

Shah Rukh Khan’s recent win of the National Award for Best Actor for his powerful role in “Jawan” marks a significant milestone in his career. The film portrayed a character deeply committed to justice, accountability, and the welfare of ordinary citizens. As admirers of this vision, we now ask: is SRK, in his real-life role as a public figure and cultural icon, living up to the pro-people, humanitarian ideals his character so boldly embodied? With this question in mind, we present the following petition.

Dear DHFL Victims and Supporters of Justice,

You trusted a name. You invested your life’s savings. And you were betrayed—not just by a failed institution, but by the powerful faces who endorsed it.

Shah Rukh Khan promoted DHFL when lakhs were watching. His star power gave false confidence to a crumbling financial giant. Now, we demand accountability.

This petition is your voice. Let it roar. Sign it, share it, and let’s show the world that victims of financial fraud will not be silent. Together, we can ensure that celebrity endorsements carry responsibility—and that justice, long delayed, is not denied.

Every signature is a step toward truth.
Every share is a spark of hope.

 Sign here: https://chng.it/DCxVVJz8bW

 Let’s stand united. For truth. For justice. For every ruined life savings.

Important Note: After signing the petition, please verify your signature by clicking the confirmation link sent by Change.org to the email address you used. Your signature will not be counted unless it is verified via that email.

PETITION TEXT

To:
The Hon’ble Prime Minister of India, Government of India
The Hon’ble Minister, Ministry of Consumer Affairs, Government of India
The Hon’ble Chief Commissioner, Central Consumer Protection Authority (CCPA)
 
Subject:
Hold Shah Rukh Khan Accountable for Misleading Endorsement of DHFL that Devastated Lakhs of Innocent Small Investors

 
Background: 
Between 2015 and 2018, Bollywood icon Shah Rukh Khan, the 4th (globally) richest film actor⤡, appeared in multiple high-profile ad campaigns for Dewan Housing Finance Corporation Ltd. (DHFL), then rated “AAA” and projected as a trusted financial institution. His stardom and credibility played a major role in influencing thousands of retail investors—including senior citizens, pensioners, and low-income families—to deposit their life savings in DHFL’s fixed deposits and non-convertible debentures (NCDs).

In 2019, DHFL collapsed⤡, triggering one of the largest financial scams in Indian history—estimated at over ₹30,000 crore. The company defaulted on its obligations, leaving lakhs of depositors devastated. To this day, many have not recovered their full savings or received justice. The subsequent resolution process, overseen by the RBI-appointed Committee of Creditors, has drawn serious criticism. It culminated in the approval of Mr. Ajay Piramal’s resolution plan⤡, which controversially valued DHFL’s ₹45,000 crore worth of assets at just ₹1. This resulted in massive haircuts for fixed deposit and NCD holders, raising grave concerns about fairness and accountability.

As a celebrity endorser of a financial product, Mr. Khan was statutorily obligated under Section 21(5) of the Consumer Protection Act, 2019 to exercise due diligence before endorsing any financial service. However, there is no public record indicating that such diligence was ever undertaken. More concerningly, even as DHFL allegedly began defaulting, Mr. Khan neither withdrew his endorsement nor publicly disassociated himself from the brand. His continued public association effectively legitimized DHFL’s misleading portrayal of financial soundness, thereby deepening public trust in what turned out to be a collapsing institution.

In this context, Mr. Khan’s actions—and omissions—raise further serious legal and ethical concerns under multiple provisions of the Consumer Protection Act, 2019, including: Section 2(47), which defines misleading advertisements; Section 21(2), which establishes the liability of endorsers; and Section 89, which prescribes penalties for misleading advertisements. These provisions collectively underscore the responsibility of public figures in safeguarding consumer interest, particularly in high-risk financial domains.

• Mr. Shah Rukh Khan, The Brand Ambassador Of DHFL, Has Deceived The Victims Of The DHFL Scam VIEW HERE ⤡
• Tweets to Mr. Shah Rukh Khan, Ex-Brand Ambassador of the DHFL VIEW HERE ⤡
• Let’s do it: Hitchhiking for Zakat for the ailing FD and NCD- Holders of the DHFL: a letter to SRK, DHFL Brand Ambassador VIEW HERE ⤡

We Are Demanding:
A formal inquiry by the Central Consumer Protection Authority (CCPA) into Shah Rukh Khan’s role in promoting DHFL, under Section 21 of the Consumer Protection Act, 2019.

• A public apology from Mr. Khan acknowledging the harm caused.
• Disgorgement of his reported ₹6–10 crore endorsement fees, to be redirected into a relief fund for DHFL victims.
• Monetary penalties, as laid out in Section 89 of the CPA 2019, for participating in the promotion of misleading financial products.
• A temporary prohibition (up to one year) on Mr. Khan endorsing any financial services or institutions, as per Section 21(2) of the Act.

View More At:

Mission SRK: Hold Brand Ambassador Accountable in the DHFL Fiasco! VIEW HERE ⤡ 

Why This Matters:

• Lakhs of depositors, especially vulnerable and elderly citizens, lost their hard-earned life savings due to DHFL’s collapse.
• The tragedy reflects systemic institutional failure, including complicity or negligence by auditors, rating agencies, and regulators.
• High-profile celebrity endorsements like SRK’s added legitimacy to a fraudulent scheme, directly impacting consumer trust.
• The Consumer Protection Act, 2019 exists to hold endorsers legally and financially accountable. Enforcing it now would serve as a landmark precedent for celebrity responsibility in financial advertising.

Precedent Matters:
In 2015, actor Mithun Chakraborty returned ₹1.19 crore he had received for endorsing the Saradha Chit Fund, following public outrage. This act of restitution and responsibility should now guide how we hold Shah Rukh Khan accountable in the DHFL case.

Mithun Chakraborty returned ₹1.19 Crore to the Enforcement Directorate in relation to the Saradha Ponzi Scam⤡

Call to Action:
We are calling on the Government of India, the Ministry of Consumer Affairs, and the CCPA to act in defense of millions of honest Indian investors and to strengthen the rule of law.

If you believe that:

• Celebrity endorsements must carry legal and ethical responsibility,
• Consumer rights must be protected, and
• Justice must be served to DHFL victims,

then sign this petition today.

Together, we can send a strong message: No one is above accountability—not even superstars.

Thank you for standing with DHFL victims.
Please share widely. Every signature matters.

In Solidarity,

Once in a Blue Moon Academia (OBMA) ⤡

#HoldSRKAccountable, #JusticeForDHFLVictims, #CelebrityEndorserLiability, #SRKDHFLScam, #ConsumerProtectionNow, #FinancialJustice, #DHFLScam, #StopMisleadingAds, #AccountabilityMatters, #ProtectRetailInvestors, #Seize_Cronies_Fairplay_for_DHFL_Victims, #alleged_dawood_mirchi_rkw_dhfl_bjp_collusion,  

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