Once in a Blue Moon Academia (OBMA)

 Mr. Ajay Piramal: Grand Philanthropism or Profiteering Facade? Mr. Ajay Piramal: Grand Philanthropism or Profiteering Facade? Posted on 3rd May, 2025 (GMT 21:20 hrs) ABSTRACT The article critically examines the philanthropic image of Ajay Piramal, chairman of the Piramal Group. While reflecting on his supposedly projected contributions through the Piramal Foundation in areas like healthcare, education, and clean water initiatives, the article raises concerns about alleged financial misconduct and environmental extortion issues associated with his business practices over the years that seem to posit a crony collusion. It questions whether his philanthropic endeavours serve as a genuine commitment to social welfare or as a means to obscure less ethical corporate activities. The piece encourages readers to scrutinize the alignment between Piramal’s professed values and his business operations, suggesting a need for greater genunity in viewing a philanthro-capitalist! I. Introduc...

 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...

 From Courtroom to Newsroom: Tracking the Media Pulse on the DHFL Verdict From Courtroom to Newsroom: Tracking the Media Pulse on the DHFL Verdict Posted on 10th April, 2025 (GMT 13:14 hrs) ABSTRACT ​The article examines the aftermath of the Supreme Court’s decision upholding the Piramal Group’s resolution plan for Dewan Housing Finance Corporation Ltd (DHFL). This verdict has intensified feelings of despair among the DHFL victims, especially as it allows fraud-recovered funds to benefit the acquirer rather than the original retail investors and small depositors. The piece also highlights the Central Bureau of Investigation’s (CBI) closure of the Yes Bank–DHFL loan fraud case due to insufficient evidence, raising questions about the initial motivations behind DHFL’s corporate insolvency resolution process and the broader implications for India’s financial sector. It has been roughly ten days since the Supreme Court of India—under the bench led by Justice Bela Trivedi—delivered...