Once in a Blue Moon Academia (OBMA)

 Bringing Back from Oblivion: Key NCLT and NCLAT Verdicts in the DHFL “Scam” Cases Bringing Back from Oblivion: Key NCLT and NCLAT Verdicts in the DHFL “Scam” Cases Posted on 22nd April, 2025 (GMT 13:57 hrs) ABSTRACT The article strongly commends the NCLT (May 19, 2021) and NCLAT (January 27, 2022) for their bold rulings in the DHFL insolvency case, which criticized the exclusion of ex-promoters, exposed irregularities in the resolution plan by Ajay Piramal, and questioned the opaque conduct of the RBI-appointed Committee of Creditors (CoC). It highlights the lack of transparency in auditing, denied access to CoC audits under RTI, and systemic disregard for small depositors. The authors critique the Supreme Court’s April 1, 2025, judgment for upholding the resolution plan without adequately addressing these issues, while remanding the matter of avoidance transaction recoveries to the NCLT. Emphasizing a pro-people, constitutional ethos, the piece appeals to NCLT and NCLAT to uphold...

Urgent Plea for Suo Motu Action in DHFL Crisis to Restore Justice and Equity: An Open Letter to The Hon. CJI Sanjiv Khanna Urgent Plea for Suo Motu Action in DHFL Crisis to Restore Justice and Equity: An Open Letter to The Hon. CJI Sanjiv Khanna Posted on 21st April, 2025 (GMT 08:53 hrs) ABSTRACT This open-letter by a family of DHFL victims appeal to Chief Justice Sanjiv Khanna to take suo motu cognizance of the DHFL crisis, invoking Article 142 to protect the rights of lakhs of affected FD/NCD holders—mostly senior citizens, widows, and public institutions—who lost life savings due to alleged fraud and crony capitalism. They criticize the Supreme Court’s April 1, 2025, judgment, led by Justice Bela M. Trivedi, which upheld Piramal’s resolution plan, giving victims only 23% recovery while ignoring a full-repayment offer by DHFL ex-promoter Wadhawan. They allege bias in the RBI-appointed CoC and question the judiciary’s increasing proximity to political and corporate powers, citing ...

 “Stop Allergic Piramal”: A Self-Reflexive Note from a Ruptured Self “Stop Allergic Piramal”: A Self-Reflexive Note from a Ruptured Self Posted on 19th April, 2025 (GMT 07:02 hrs) ABSTRACT ​In this narrative, the author intertwines personal anguish with systemic critique, portraying how financial betrayal manifests as physical ailment. After losing life savings in the DHFL crisis, the narrator experiences psychosomatic symptoms—itching skin, rashes, anxiety—symbolizing the deep scars left by economic injustice. The piece uses the metaphor of medication, specifically “StopAllerg,” to highlight how treatments may numb symptoms but fail to address underlying causes. This narrative serves as a poignant commentary on how corporate greed and institutional failures inflict both psychological and physiological harm on victimized individuals. I pop the STOP ALLERG 10MG TAB and wonder—am I trying to cure an allergy, or just medicating my grief? After losing my life savings in DHFL, some...