Once in a Blue Moon Academia (OBMA)

 Analyzing Diverging Judgements in BPSL and DHFL Cases: Victim Perspectives and the Fragility of the IBC  Analyzing Diverging Judgements in BPSL and DHFL Cases: Victim Perspectives and the Fragility of the IBC Posted on 13th May, 2025 (GMT 17:39 hrs) ABSTRACT The article examines two Supreme Court rulings under the Insolvency and Bankruptcy Code (IBC) that reveal troubling inconsistencies. In the BPSL case, JSW Steel’s ₹19,350 crore resolution plan—initially approved by the Committee of Creditors (CoC) and NCLT—was overturned by the Supreme Court in May 2025, citing procedural lapses such as delay, improper financial instruments, and non-compliance with Section 29A. The judgment criticized the CoC and Resolution Professional for dereliction of duty, raising concerns over investor trust. Conversely, in the DHFL case, where Piramal Capital’s resolution plan addressed ₹87,248 crore in claims, the Court upheld the plan in April 2025 despite allegations of illegality, irregula...

 Dear DHFL Victims, Share Your Grievances with “Awaaz Bharat Ki” Dear DHFL Victims, Share Your Grievances with “Awaaz Bharat Ki” Posted on 8th April, 2025 (GMT 20:15 hrs) ABSTRACT The article urges victims of the Dewan Housing Finance Corporation Limited (DHFL) collapse to submit their grievances via the Leader of the Opposition’s portal, Awaaz Bharat Ki. It alleges the DHFL crisis was a politically orchestrated scam allegedly benefiting industrialist Ajay Piramal through a “quid pro quo” with the BJP. The article highlights the plight of fixed deposit and non-convertible debenture holders—especially vulnerable groups like senior citizens, widows, the disabled, and charitable trusts—who lost their savings due to DHFL’s fraud. A timeline traces events from the 2019 exposure of financial irregularities to ongoing legal proceedings in 2025, criticizing the RBI-appointed Committee of Creditors for a biased resolution process. The article proposes five remedies: (1) ending crony ca...

 India’s Financial Meltdown: A Decade of Defaults, Bankruptcies and Economic Ruin India’s Financial Meltdown: A Decade of Defaults, Bankruptcies and Economic Ruin Posted on 13th March, 2025 (GMT 08:32 hrs) Composed and Compiled by  Partyless Society⤡  &  Occupy Dalal Street⤡ ABSTRACT India has faced widespread bankruptcies between 2015 and 2025, with significant failures in banks, non-banking financial companies (NBFCs), and large corporations, exacerbating core economic issues. The Insolvency and Bankruptcy Code (IBC) has largely failed, leaving citizens to bear the brunt time and again. Key examples include DHFL, PNB, IL&FS, PMC, Yes Bank, Essar Steel, and Jet Airways. Additionally, write-offs (waive offs?!) of corporate loans have surged, and bank fraud cases are on the rise, with rising defaults and poor recovery rates. The ongoing financial instability, caused by such frauds, defaults and bankruptcies, has eroded investor confidence, leading to mass...