Once in a Blue Moon Academia (OBMA)

  IBC’s Clean Slate and the Unpaid Sin: Section 32A, Section 66, and the Corporate Metamorphosis of Liability Posted on 27th February, 2026 (GMT 04:57 hrs) ABSTRACT The Insolvency and Bankruptcy Code, 2016 establishes a dual legal framework combining fraud recovery and insolvency resolution. Section 66 embodies the Code’s accountability function by empowering recovery from fraudulent and wrongful trading, thereby restoring value to creditors. In contrast, Section 32A, introduced in 2019 with retrospective effect, extinguishes corporate criminal liability once a resolution plan is approved and control passes to new management. This paper argues that these provisions operate in structural tension: Section 66 presupposes continuity of corporate liability to enable recovery, while Section 32A extinguishes corporate criminal liability while preserving corporate identity, assets, and economic continuity. Through a doctrinal case study of Dewan Housing Finance Corporation Ltd. (DHFL)...

  Justice via Intimidation? A Financially Abused Citizen vs. the Corporate-State Nexus Response/Statement from a DHFL Victim Harassed by Mr. Piramal’s Legal Machinery,  Intended as an Open Communication (as expected in a democracy) to the Hon’ble Bombay High Court  Regarding Case Number S/42/2025 (and connected matters). Posted on 30th June, 2025 (GMT 23:01 hrs) Updated on 2nd July, 2025 (GMT 15:01 hrs) ABSTRACT The author of this open communication to the Hon’ble Bombay High is a victim of the DHFL financial scandal. He reports receiving a Bombay High Court suit (No. 42 of March 17, 2025) unusually via the Mumbai Sheriff, which contained identity errors, redundant or blank pages, and a mere five‑day response window, compared to the 90 days apparently allotted to corporate plaintiff Mr. Ajay Piramal. He argues that this situation appears to constitute legal intimidation by a powerful corporate‑state nexus that has left him impoverished and unable to secure counsel wi...