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...

 “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...

 If CoC-under-IBC is the King, is Justice Just a Ritual? If CoC-under-IBC is the King, is Justice Just a Ritual? Posted on 15th April, 2025 (GMT 08:55 hrs) ABSTRACT The article critically examines the Indian judiciary’s handling of the DHFL insolvency case under the Insolvency and Bankruptcy Code (IBC), questioning whether justice is becoming a mere formality. It highlights the overarching dominance of the Committee of Creditors (CoC) in the insolvency resolution process, where their decisions are treated as final with minimal judicial scrutiny. This unchecked supremacy, the article argues, has allegedly led courts—including the Supreme Court—to endorse CoC decisions without thorough examination, thereby reducing judicial oversight to a ritualistic procedure. A major concern is the exclusion of the Wadhawan family from the Corporate Insolvency Resolution Process (CIRP), despite their offer to repay the entire debt, and the opaque handling of their final settlement proposal, wh...