Once in a Blue Moon Academia (OBMA)

  A Cry for Justice: The DHFL FD and NCD Holders’ Battle Against Political and Corporate Nexus Posted on 11.o6.2025. GMT:21.57 ABSTRACT This letter addresses the plight of Dewan Housing Finance Corporation Limited (DHFL) Fixed Deposit (FD) and Non-Convertible Debenture (NCD) holders, whose hard-earned savings remain ensnared in a financial scandal marked by alleged corporate malfeasance and political collusion. It explores the contentious acquisition of DHFL by Ajay Piramal, a businessman purportedly favored by the ruling Bharatiya Janata Party (BJP), spotlighting his predictive claims, ties to the Flashnet Scam, and substantial electoral bond contributions totaling ₹48 crores. The narrative critiques the judiciary’s role, highlighting a perceived erosion of independence through expedited rulings, political influence, and symbolic breaches like the Prime Minister’s visit to the Chief Justice’s residence for Ganesh Chaturthi, alongside judicial deference in cases like the Ram M...

 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...