Once in a Blue Moon Academia (OBMA)

  The Hidden Chemistry of Piramal Pharma’s “Tri-Activ”: A DHFL Victim Writes to Ajay Piramal Posted on 13th November, 2025 (GMT 03:35 hrs) ABSTRACT This letter addresses Piramal Pharma’s Tri-Activ line of disinfectants, critically examining the disparity between the products’ marketed claims of “triple protection” and the documented human health and ecological risks posed by their chemical constituents, notably ethanol and benzalkonium chloride (BAC). Written from the perspective of a survivor of systemic corporate harm, it combines lived experience with peer-reviewed evidence to demand transparency, full disclosure of toxicological and environmental data, and remedial measures including independent environmental monitoring, responsible labeling, and extended producer responsibility initiatives. Beyond consumer safety, the letter interrogates regulatory ambiguities, corporate ethics, and the broader social and ecological consequences of commodified cleanliness, framing the cor...

  The Reverse Merger Republic: Piramal Finance, DHFL, and the Architecture of Cunning Capitalism Posted on 15th November, 2025 (GMT 04:55 hrs) ABSTRACT This article examines the DHFL resolution and Piramal Group’s subsequent restructuring as a paradigmatic case of contemporary financial consolidation in India, tracing how regulatory design, corporate strategy, and state-enabled mechanisms converged to produce an outcome that is legally final yet institutionally opaque. It analyses the RBI’s supervisory–administrative dual role, the CoC’s opacity, the judiciary’s tendency toward implied finality, and the structural conflicts that limited independent scrutiny during the insolvency process. The paper then situates Piramal’s rare reverse merger—where the listed parent (PEL) was absorbed into its regulated lending subsidiary (PFL)—as a decisive act executed amidst pending appeals, effectively embedding DHFL-acquired assets inside a newly listed NBFC-ICC. The listing-by-merger, driv...