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...

 Licensed Thieves & Shady Transactions: Sarcastic Posters Exposing the Systemic Rot in the DHFL “Scam” Licensed Thieves & Shady Transactions: Sarcastic Posters Exposing the Systemic Rot in the DHFL “Scam” Posted on 12th May, 2025 (GMT 21: 55 hrs) ABSTRACT This im/passioned collage of posters from many of the Indian citizens highlights the systemic corruption and financial abuse exemplified by the Dewan Housing Finance Corporation Limited (DHFL) scam, portraying it as a symptom of a broader BJP-headed autocratic regime’s collusion with crony capitalists like Ajay Piramal and others like Ambani and Adani. India’s low score of 38 on the 2024 Corruption Perceptions Index underscores the pervasive corruption that enables such financial heists. The misuse of the Insolvency and Bankruptcy Code (IBC) of 2016, coupled with the Reserve Bank of India’s (RBI) appointment of a complicit Committee of Creditors (CoC), facilitated the orchestrated plundering of DHFL depositors’ savings. Ag...

  The House of Cards: The DHFL Debacle (MOVIE) The House of Cards: The DHFL Debacle (MOVIE) Posted on 3rd January, 2025 (GMT 12:00 hrs) OVERVIEW This agit-prop short film chronicles the origins of the DHFL scam, unraveling the layers of corruption and systemic failures that enabled one of India’s largest financial frauds. It delves into the root causes of the hardships endured by financially abused DHFL victims, exposing the exploitative mechanisms behind the so-called ‘bankruptcy’ and ‘insolvency’ narratives surrounding the AAA-rated NBFC DHFL. The film critically examines the unanswered questions that continue to haunt ordinary citizens, whose hard-earned savings were sacrificed at the altar of crony capitalism, facilitated by a regime deeply intertwined with the super-rich elite and their corporate allies. Yet, amidst the bleak revelations, the film concludes with a glimmer of hope. It envisions the power of collective struggle—a united front spanning both national and glob...