An Appeal From The Victims Of Savage Capitalism, The FD-Holders Of The DHFL SCAM, For The Breathing Space Within The Ambit Of Money-Commodified Society: a letter to Com. Pinarayi Vijayan

Posted on 17/05/3021


Com. Pinarayi Vijayan

The Honourable Chief Minister,

The Government of Kerala

Sub: An Appeal From The Victims Of Savage Capitalism, The FD-Holders OfDEWAN HOUSING FINANCE CORPORATION LIMITED (DHFL) SCAM⤡ , For The Breathing Space Within The Ambit Of Money-Commodified Society

Dear Com. Vijayan,

First of all, we must congratulate you for winning the recent assembly election in Kerala. Secondly, we must appreciate, as agnostic-atheists, your communist materialistic ideology in the midst of religious dogmatism, heathen ostentatious idol/statue nationalism, chauvinistic religious extremism, free-market fundamentalism, communalism, gender and caste-class discrimination—all these have veiled the “real miseries” of the Gattungswesen or ‘species-being’ (cf. Karl Marx’s Sixth Theses on Feuerbach, 1845 Sorry for carrying coal to New Castle.), earthians— “homo sapiens sapiens” especially supposed  “Indian” citizens (yet to be proven by the tiresome and coercive processes of NPR-NRC-CAA!!! ). The need of the hour is to overthrow the plutocratic, oligarchic, megalomaniac, religiously-biased crony wackadoos. This type of situation entails:

“Religion is the sigh of the oppressed creature, the heart of a heartless world, and the soul of soulless conditions.”

The dreams of internationalism—the world without politico-cartographically de-signed boundaries have been vanished in the context of contemporary bordered military-industrial society. Still, we remember the words: “The working men have no country. We cannot take from them what they have not got.” We also reiterate Com. Bhagat Singh’s comments on the necessity of a socialist international order in this regard: “…a world federation should redeem humanity from the bondage of capitalism and misery of imperial wars. In this manner, we can sing the The Internationale in a free and just society.

Éric Toussaint observed that the third world countries take debt from the WB-IMF-WTO trio and this process leads to the installation of puppet dictators who have to listen to the dictates of the neo-imperialist masters of humankind. According to him, military dictatorships during the 1970s have continued to expand under the debt-burdened governments (The Current National Debt of India VIEW HERE ). The present situation in India is no exception as we are under a savage capitalist regime of an installed dictator, who is in collusion with the two capitalists.

Cf. The World Bank: A Critical Primer by Eric Toussaint.(2008)

The World Bank: a never-ending coup d’état. The hidden agenda of the Washington Consensus⤡ (2007)

​Therefore, keeping in mind the contemporary oligarchic regime in India, we need strong resistance against foreign loans, as suggested by Late Comrade and eminent economist Ashok Mitra long ago.

Resistance against the policies imposed by the World Bank, the IMF and other creditors between 2007 and 2011 VIEW HERE [As reported on Apr 20, 2021 © Éric Toussaint,  CADTM (Committee for the Abolition of Illegitimate Debt) ]

​Yet we, the parasitic inhabitants of sick society, the victims of DEWAN HOUSING FINANCE CORPORATION LIMITED (DHFL) SCAM, are struggling, during the pandemic, to write this letter to you, our docile bodies are crippled⤡ and at the verge of collapsing fully as we are suffering from capitalism, the dis-ease of the era, especially  because of (cf. Confession Of A Victim Of Financial Abuses  VIEW HERE ) the reasons given below. Let us go through each of them in order to sharpen the weapon of criticism by performing the concrete analysis of the existing material conditions (as prescribed by Com. Sitaram Yechury in his book Left Hand Drive: Concrete Analysis of Concrete Conditions):

1.     Consuming poisons (Spurious pesticides, chemical fertilizers and lab-made seeds) of the Green Revolution (thanks to the mastermind behind such conspiracy: M. S. Swaminathan! He had followed Lawrence Summers’ imperative:  LET THEM EAT POLLUTION VIEW HERE , 1991). Surprisingly enough, in the next year, 1992, at the Earth Summit, El Comandante Fidel Castro depicted the global environmental crisis by  identifying its causes and said that “TOMORROW WILL BE TOO LATE” , if we do not take the environmental problems seriously.

How Leftover Bombs From World War 2 Became ‘Fertilisers’ for Agricultural Use VIEW HERE (As reported on 4th May, 2021 ©Pure & Eco India)

Postwar Fertilizer Explodes VIEW HERE (©Wessels Living History of Farms)

The problem is that we are mere parasites, not a weaver like you; we are depending upon others’ surplus labour without engaging in socially necessary labour following the socialist dictum From each according to his ability, to each according to his needs .”  

2.     Catastrophic Natural Ecosystem:

Being burnt by the consequences of anthropogenic glocal (global+local) heating, our corporeality cannot acclimatize with the climate crisis. The following quote on the degradation of soil due to rapid industrialization that leads to “irreparable metabolic rift in the interdependent processes of social metabolism (i.e., metaphorically referring to the human relationship with the nature):

“…Capitalist production collects the population together in great centres, and causes the urban population to achieve an ever-growing preponderance. This has two results. On the one hand it concentrates the historical motive force of society; on the other hand, it disturbs the metabolic interaction between man and the earth, i.e. it prevents the return to the soil of its constituent elements consumed by man in the form of food and clothing; hence it hinders the operation of the eternal natural condition for the lasting fertility of the soil…But by destroying the circumstances surrounding that metabolism…it compels its systematic restoration as a regulative law of social production, and in a form adequate to the full development of the human race…All progress in capitalist agriculture is a progress in the art, not only of robbing the worker, but of robbing the soil; all progress in increasing the fertility of the soil for a given time is a progress toward ruining the more long-lasting sources of that fertility…Capitalist production, therefore, only develops the techniques and the degree of combination of the social process of production by simultaneously undermining the original sources of all wealth—the soil and the worker.”

Karl Marx, Capital, vol. I (1976), New York: Vintage, pp. 637-638. (emphasis added) Alternate translation: Capital, vol. I (1967), New York: International Publishers Co., Inc., pp. 505-50

Your government has already intervened in the irreversible yet unavoidable consequences of climate change. We do not know when our corporals would be attacked by the unknown age-old but novel viruses and bacteria due to the abrupt melting of the permafrost due to rapid anti-green industrialization (first observed by Com. Engels in Condition of the Working Class in England(1844-45 VIEW HERE ), if not by the bio-weapons for depopulating the earth following crafted Malthusian positive checks.

We are appreciating your efforts regarding this issue as Local Action Plan on Climate Change (LAPCC) was being formulated in all climate-vulnerable hotspots in the state of Kerala. We are really scared about the coastal areas of South-East Asian territories, which are submerging and going to shrink soon by giving birth to too many climate refugees. We should not be silent about the Silent Valley⤡.

3.     Devastating Financial Eco(?)system:

We are simply the victims of financial abuse that goes against our basic human rights.  We cannot help ourselves but to reiterate here the three pillars of  United Nations Guiding Principles on Business and Human Rights in the context of the Dewan Housing Finance Corporation Limited (DHFL)’s Resolution Plan. We are especially emphasizing on the third pillar in this context, “Access to remedy for victims of business-related abuses”. We are now suffering from anxiety disorders, insomnia and other psychosomatic diseases due to this scam. 

(Kindly note that pharmaceutical companies, health care providers and legal advisors are profiting from all these three cases)

Regarding point 3, we wish to humbly raise some questions.

a)     We are surprised and shocked to find out from different media-reports that the Sangh Parivar is associated with the terrorist dons, viz., Dawood Ibrahim and his close associate Iqbal Mirchi, who are again related to Dewan Housing Finance Corporation Limited (which is now under IBC) and its associate RKW Developers Private Limited (Dheeraj Realty). We have already reported it to The President of the Bharatiya Janata Party for verifying the authenticity of these reports on the 28th March, 2021. The answer is yet to be received.  

False” (?) allegations on the collusion among the  BJP, Dawood-Mirchi, and the DHFL VIEW HERE (It’s a sarcastic letter to the President of the Indian Republic. We have followed Com. Brecht’s method in this regard.)

Respected Mr. Vijayan, may you please tell us: Is this collusion believed to be true? Is it the cause of our real miseries? Cf. Gift BJP Rs 20 cr, get ‘return gift’ worth Rs 31K cr: Congress on fraud by DHFL VIEW HERE (As reported on 30 January, 2019, ©Millennium Post).

Some transparency activists are whispering that there is one-to-one correspondence between ruling party’s astronomically increasing assets and abrupt bankruptcies. For detailed analysis with hyperlinks cf. Consequences Of Crony And Monopoly Capitalism In India: The Case Of DHFL Scam VIEW HERE .

The situation is bleak and we are living within a sick society. (cf. India Wounded: A Bird’s Eye View VIEW HERE )!  A guru and a tycoon feel India’s endless bank salvage pain VIEW HERE (As reported on Jan 13, 2021 © The Economic Times).  The cronies are probably working against common persons. Our humble questions are:

                        i.            Is the BJP getting “terror funding” or otherwise “political charity” (euphemism!?) from the business tycoons via so-called “underworld” or lumpen proletariats turned to lumpen bourgeois or shadow economic zone by depriving the citizens (yet to be proven by the tiresome process of NPR-NRC-CAA!!!) of Indian Republic???

                     ii.            Do you not feel the clashes between  sanātana tyāga  dharma (the ideological standpoint of the BJP on the basis of ethnographic elements as pointed out by Com. Damodar Kosambi. It is far from the Indian Philosophy as interpreted by Com. Rahul Sankrityayan, Com. Debiprasad Chattopadhyay, Com. Hemanta Ganguli et al.) and governmental/ ruling party’s praxis? Cf. Subsequent Clash Between (A) Sanātana Dharma And Governmental Praxis; (B) Ibc And NHB Act In The Context Of The Dhfl Fd-Holders’ Misery In Reference To The Arthasastra VIEW HERE

b)    Taking cue from the (a), we are awfully scared to see the abrupt bankruptcies within the span of last three years. The IL&FS, Dewan Housing Finance Corporation (DHFL), Punjab and Maharashtra Cooperative Bank (PMC), Yes Bank, Lakshmi Vilas Bank (LVB) have collapsed and many other smaller banks in India which are confronting  higher risks of collapsing due to rising bad loans (as well as money-laundering) despite the fact of existence of too many governmental vigilant agencies.  

Bad banks: LVB’s collapse marks 5th financial institution’s failure in less than 3 years. VIEW HERE (As reported on 20th November, 2020 ©India Today)

Why there are so much bad loans? The answer is quite simple: present government is favouring superrich wilful defaulters! PSU Banks Technically Write Off Over Rs 68,000 Cr Loans, Choksi Among 50 Top Wilful Defaulters: RTI  VIEW HERE and we,  the victims of the DHFL SCAM, are spending sleepless night with nightmares.

It was predicted by the Scroll on the 2nd November, 2018:

“India’s curious inflexibility in trying to fix its bad loan crisis is leading to unforeseen problems”

We are citing an excerpt from this report:

“One reason for the inflexibility in the insolvency proceedings, said a former Union finance secretary who did not want to be identified, is the government’s fear that it would be seen as being soft on corruption. “It sees even bad loans as fraud,” he said. This is why the government is taking measures such as “extinguishing shareholdings” – that is, getting rid of the promoters of all defaulting companies.” (emphasis added)

We are emphasizing on this word “inflexibility”, though we perceive arbitrary flexibility in the governance. Same measure has not been taken in all the cases of above-mentioned collapsed banks, e.g., only the DHFL has been taken under the newly-introduced IBC. What’s about other banks? The deployment of different incommensurable laws and codes for the same problem is self-contradictory.

Com. Marx predicted such situation in the Part-V, Chapter 25 of The Capital: Credit and Fictitious Capital  VIEW HERE ⤡  

c)     At present, most of the listed Companies holding Public Deposits in one form or another are getting defaulted, bankrupted and facing rapid insolvencies. It has been observed that the ‘Loss Reporting’ begins only after they are completely exposed by the fourth pillar of democracy, viz., mass media. Until that the Auditor of that respective company remains in sleeping mode. It is well surprising that even 100% of the net worth has been eroded but the Auditor is signing the Balance Sheet with the remarks “True & Fair View” and a “going concern”. It is only after the bomb get blasted that Auditor comes to know, “Oh no, it’s a Loss Balance Sheet!” 

It is embarrassing to note that such a deviation in the assets of the Company is not known to the Auditors, and yet they are misguiding the public at large and ‘dishonestly’ conducting their profession. If an Auditor claims that it is not a wilful mistake and s/he is unaware of such erosion in Assets, I am sorry to say that in this case his/her competency to act as an Auditor need to be reviewed. A serious action should be taken against such Auditors so that a message is crystal clear to the chartered Accountant Association:  

“That Audit means confirming/certifying the Books of Accounts based on which the Funds are being raised and misconduct should lead to pecuniary penalty in form of repaying to the sufferer either by the ICAI as an regulatory body or the member himself”

d)    We have lost our faith on the Judiciary, the Ideological State Apparatus (a la Com. Althusser). First of all, in present situation, it will be difficult for us to hire a lawyer— we cannot afford it. On the other hand, unlike Socrates, we cannot plead for ourselves in the trial before more than 500 jurors. Secondly, we do not believe in the courts after viewing some judgements of the apex court,  e.g.,   ADR’s plea in SC to bring Political Parties under RTI, ADR’s petition challenging Finance Act, 2017; Electoral Bonds and Removal of company’s limit to donate: W.P (C) 880/2017, Note on Electoral Bonds and Opacity In Political Funding VIEW HERE not to mention other cases of severe  injustice.

We are subscribing our proposition by the following testimonies:

There are discriminations in between the haves and have-nots in the Indian judiciary.

Here’s proof that poor get gallows, rich mostly escape. VIEW HERE (As reported on JULY 21, 2015 © The Times on India) 

Judiciary ramshackled, going to court is useless: Ex-CJI Ranjan Gogoi  VIEW HERE (As reported on 14th February,  2021) © The Indian Express

“Who goes to the court? You go to the court and regret,” Gogoi said, adding that it is those who can afford to take chances, such as the big corporate, who approach the courts. “If you go to the court, you would be washing dirty linen in the court. You will not get a verdict,”

“You want a 5 trillion dollar economy but you have a ramshackled judiciary,” he commented, adding that during the pandemic, 60 lakh cases were added at the trial courts, 3 lakh in high courts and nearly 7,000 in the apex court.

“The road map is to have the right man for the job. You don’t appoint judges as you appoint officers in the government. To be a judge is a full time commitment. It is a passion. There are no working hours,” he said, stressing that the training of judges should be robust.

See also:

‘If you go to court, you don’t get a verdict,’ says former CJI Ranjan Gogoi VIEW HERE (As reported on Feb 13, 2021) ©

Mukul Rohatgi, Ex-Attorney General of India, the deux ex machina behind our miseries,  said in the NDTV interview (12/11/2020) by reiterating Hon. Justice Krishna Iyer, “Jurisprudence has gone astray, seem jail is rule, bail exception.”

e)     We do not have faith in the RBI also for their grand failure in tackling the real problems. 

A PIL was filed by Subramanian Swamy, a BJP-insider, by praying to the CBI or ‘any other competent authority to investigate illegalities committed by RBI officials’ in the discharge of their functions.

Subramanian Swamy asks SC for CBI probe into RBI official’s role in scams VIEW HERE (as reported on February 2, 2021) ©Business Standard 

Not only that, Subramanian Swamy commented on Shri Shaktikanta Das (BA and MA in History!!!), the present Governor, the Reserve Bank of India:

The new governor (of RBI) is highly corrupt. I got him removed (from the finance ministry). I am calling Shaktikanta Das a corrupt person. I am surprised that the man I got removed from the finance ministry for corruption was brought in as governor.” (emphasis added) (as reported on Dec 23, 2018 © )

This is also along with the line of Nobel laureate economist Abhijit Vinayak  Banerjee’s comments (as reported on December 11, 2018 ©Financial Express) on  the decision to appoint Shri Shaktikanta Das as RBI-Governor  arises a lot of “frightening” questions about governance issues at key public institutions like the RBI.

Our question, in connection with (d) and (e) is: 

“Is it necessarily true, as alleged by so-called “urban naxals, anti-nationals, members of tukde tukde gang”, that, RSS MEN (sexism intended, due to the patriarchal, misogynistic gender-bias of the Sangh Parivar) as puppets are installed in all the five pillars of democracy?”

f)      We are also sceptic about the role of the RBI-appointed COC for the DHFL. According to our perception, the DHFL is deliberately handed over to a father of a damad of a favoured tycoon in a throw away prices following the rituals of crony and monopoly capitalism. Therefore, we are smelling the rat in the DHFL-COC Resolution Process, especially in case of diligent auditing (we are working on it. The “truth” of inappropriate auditing of an on-going concern will be revealed soon) of an ongoing company. The RBI-appointed Administrative Representative of the FD-holders of the DHFL had cut a sorry figure in our simple disjunctive question (op cit. last hyperlink above).

g)     Demonetization-drive (2016) is not at all successful enough for eradicating terrorism (not to talk about state terrorism), black (racism unintended) money, counterfeit money, terror funding etc. as promised by a damn liar.

If bhakts are proud of the successful execution of Demonetization-drive, how it could be possible for the DHFL to siphon money or to help in terror funding? 

Is it a case of selling the dream of the “Swachh Bharat” or “acche din” on the part of the GOI?

The ruling party must admit either the success or failure of the Demonetization-drive. Please note that this question itself is a double edged sword

Kindly see the following poster with triviality: 

​h)    The much proclaimed Aadhaar-PAN link with any types of banking transactions has been proven to be failed, if DHFL scam is believed to be true!

A failure of scrutiny: DHFL fraud shows limitations of Aadhaar in plugging leakages. VIEW HERE (As reported on 26th March, 2021 © DAILY 2 DAILY NEWS)

Without being helped by the governmental vigilant agencies, this type of fraudulent transactions or siphoning money is not at all possible!

According to our conclusive perception (we may be wrong), due to the huge terror funding or otherwise political charity, the capitalists are bound to become preys of fraudulent transactions to compensate for their loss due to terror-funding. 

i)       Moreover, we, living within the sick society (because of points 1, 2, 3), are shot at and wounded by financial assailants and are profusely bleeding because of the clashes among the RBI act, the NHB Act, Companies act and the newly introduced IBC

The incommensurability among these acts and codes are performing like capitalist assailant. However, there is no provision for first aid; no ambulance or chopper is available to take us to nearby hospital and there is no surgeon to remove the fragments of bullets from our docile corporeal. Kindly note that two bullets are allotted for every Indian citizen vis a vis availability of Hospital beds: 0.055 per 1,000 populations (2020).

Estimate of civilian firearms per 100 personsPopulation 2017Estimate of firearms in civilian possessionRegistered firearmsUnregistered firearms
5.31,342,513,00071,101,0009,700,000 61,401,000
(Source: WIKI⤡)

We are observing the correlations between the proliferation of the death industry and degradation of health care providers’ industry. Are we living within the Waste Land of the Death Valley? “The answer, my friend, is blowin’ in the wind…..The answer is blowin’ in the wind.”

Questioning the role of Ideological and Repressive state apparatuses (a la Com. Althusser) is strictly prohibited and considered as crime within the ambit of oligarchy or plutocracy. We are even more worried after going through the following two reports:

·        India Is No Longer a Democracy but an ‘Electoral Autocracy’: Swedish Institute (As reported on 11th March 2021, © The Wire)

The Freedom House also dropped India from the list of “Free Countries” in its annual report entitled Democracy under Siege VIEW HERE .

·        India is now only ‘partly free’ under Modi, says report (As reported on 3rd March, 2021 © BBC News)

Therefore, we, the petty bourgeois parasites, with our crippled bodies, are appealing to you for helping us recover our hard-earned money-signifier (as pointed out by Com. Karl Marx even in his pre-Capital phase, i.e., Grundrisse  VIEW HERE ⤡).

Yours Obediently,

Dr. Debaprasad Bandyopadhyay

Mrs. Rupa Bandyopadhyay

Mr. Akhar Bandyopadhyay

A Victimized Family of Bewildered, Beleaguered, Perplexed, Anguished, Anxious, Hapless, Helpless and Ailing DHFL FD Holders





  1. Akhar Bandyopadhyay says:

    Reblogged this on Akhar Bandyopadhyay.

    Liked by 1 person

  2. Why are you appealing to political parties? All parties have their loopholes. They are blaming each other & they are funded by the same source. They have huge assets without any material production. Their projected ideologies are masks to hide their anti-people misdeeds. Therefore x party= y party= z party. #Heading_towards_Partyless_Society with decentralized local resource based self-reliant moneyless green economy based on socially necessary labour.

    Liked by 1 person

  3. Kirit Doshi says:

    Kindly help us help us otherwise we all die
    We have invested in aaa reating company


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