Posted on 23/04/2023 (GMT 11:40 hrs)
We think that the following texts speak for themselves. Hope is still not out of the Pandora’s Box for the DHFL Victims:
I. 63 MOONS, NCLAT AND THE SECTION 66 OF THE IBC
In the 63 Moons Technologies Case on the DHFL issue⤡, it stated the following:
For more information, view the following links/documents:
NCLAT asks CoC to consider 63 moons’ plea in DHFL Resolution Plan VIEW HERE ⤡ (As reported on 27th January, 2022 ©Business Standard)
NCLAT asks DHFL lenders to reconsider resolution plan on avoidable transactions valuation aspect VIEW HERE ⤡ (As reported on 27th January, 2022 ©The Economic Times)
The following provision of the Section 66 (1) of the IBC has to be highlighted in this regard:
The above provision’s explanation is given as follows:
In response to this 63 Moons’ case, the NCLAT on 27/01/2022 ruled that there are material irregularities, illegalities and void spaces in the DHFL resolution process. Here are some excerpts from the same:
Since it is clear from 63 Moons’ and NCLAT’s enunciations, that the CoC acted with malicious intent to deprive the small depositors in favour of Piramal’s allegedly unjust Resolution Plan, it can be appealed that:
It is no wonder that the Parliamentary Standing Committee questioned the CoC’s Conduct:
Standing Committee on Finance raps IBC over unsustainable haircuts, says 13,000 cases worth Rs 9 lakh crore pending VIEW HERE ⤡ (As reported on August 03 2021, ©Moneycontrol)
II. THE RIGHTS OF THE OLD PROMOTERS/SUSPENDED DIRECTORS
With regard to the rights of the old promoters of DHFL, viz., the Wadhawan brothers, the Article 32A of the IBC can be considered:
“…the liability of a corporate debtor for an offence committed prior to the commencement of the corporate insolvency resolution process shall cease, and the corporate debtor shall not be prosecuted for such an offence from the date the resolution plan has been approved by the Adjudicating Authority under section 31…”
Hence, the so-called “criminal offences” (yet to be proved) of the Wadhawan brothers relating to fund diversion by creating fraudulent accounts do hold no water.
The Supreme Court of India dismissed the allegations made by the Enforcement Directorate (ED) and upheld the default bail granted to DHFL’s ex-promoters Kapil Wadhawan and Dheeraj Wadhawan by the Bombay High Court in the Yes Bank-DHFL Money Laundering case. No criminal charges against the Wadhawan brothers have been proved conclusively yet. This has a direct binding on the future outcome of the DHFL case.
Yes Bank-DHFL scam: Supreme Court upholds default bail granted to Kapil, Dheeraj Wadhawan VIEW HERE ⤡ (As reported on 27th March, 2023 ©Economic Times)
It must also be kept in mind that Bankruptcy will not void personal guarantees: Supreme Court VIEW HERE ⤡ (As reported on May 22, 2021 ©The Times of India).
[We are expecting readers’ responses on this complicated issue]
Reblogged this on debaprasad and commented:
#Seize_Cronies_Fairplay_for_DHFL_Victims
#art_of_resistance_against_autocracy
#Stop_Piramal_From_Acquiring_DHFL
#alleged_dawood_mirchi_rkw_dhfl_bjp_collusion
Reblogged this on Rupa Sanyal and commented:
#Seize_Cronies_Fairplay_for_DHFL_Victims
#art_of_resistance_against_autocracy
#Stop_Piramal_From_Acquiring_DHFL
#alleged_dawood_mirchi_rkw_dhfl_bjp_collusion
Kindly help us
Reblogged this on DHFL Scam and commented:
#Seize_Cronies_Fairplay_for_DHFL_Victims #art_of_resistance_against_autocracy #Stop_Piramal_From_Acquiring_DHFL #alleged_dawood_mirchi_rkw_dhfl_bjp_collusion
Reblogged this on Partyless Society and commented:
#Seize_Cronies_Fairplay_for_DHFL_Victims
#art_of_resistance_against_autocracy
#Stop_Piramal_From_Acquiring_DHFL
#alleged_dawood_mirchi_rkw_dhfl_bjp_collusion
https://ibclaw.in/sanjeev-mahajan-vs-indian-bank-erstwhile-allahabad-bank-anr-nclat-new-delhi/?fbclid=IwAR2gL1TtNZJkI7SM0zgvWrWVGhiBbaKXtBuk98YJkYDXPYF4ZQBeEUFD5-0
Reblogged this on Ecosexual Aranyak and commented:
#Seize_Cronies_Fairplay_for_DHFL_Victims
#art_of_resistance_against_autocracy
#Stop_Piramal_From_Acquiring_DHFL
#alleged_dawood_mirchi_rkw_dhfl_bjp_collusion
Reblogged this on Akhar Bandyopadhyay and commented:
#Seize_Cronies_Fairplay_for_DHFL_Victims #art_of_resistance_against_autocracy #Stop_Piramal_From_Acquiring_DHFL #alleged_dawood_mirchi_rkw_dhfl_bjp_collusion
Sir,
Since last more than 2 years, I have been going through your all presentations prepared meticulously with lots of hard work, in depth knowledge of all legal & illegal aspects & minute observations which makes everything crystal clear and instant (ready to serve) documentary evidences through which SC can immediately conclude all the cases related to DHFL & Wadhwans IN OUR FAVOR WITHOUT WASTING TIME & ENERGY ANYMORE.
I am also extremely surprised how all the facts are not drawing attention of RBI, Political parties, concerned ministries & also judiciary (to some extent).
All our presentations should be sufficient for SC-CJI to exercise SUO-MOTO & expedite verdict in our favor.
If still, SC delays or betrays us it will be considered as TOTAL FAILURE OF DEMOCRACY.
Sir,
Since last more than 2 years, I have been going through your all presentations prepared meticulously with lots of hard work, in depth knowledge of all legal & illegal aspects & minute observations which makes everything crystal clear and instant (ready to serve) documentary evidences through which SC can immediately conclude all the cases related to DHFL & Wadhwans IN OUR FAVOR WITHOUT WASTING TIME & ENERGY ANYMORE.
I am also extremely surprised how all the facts are not drawing attention of RBI, Political parties, concerned ministries & also judiciary (to some extent).
All our presentations should be sufficient for SC-CJI to exercise SUO-MOTO & expedite verdict in our favor.
If still, SC delays or betrays us it will be considered as TOTAL FAILURE OF DEMOCRACY.
Regards,
This is a clear case of favoritism done by Subramania Kumar for Piramal. He should be arrested and should be put behind bars. He should be banned from sitting in any CoC. He is advisor to the SREI CoC. He should be immediately removed from that post.
The highest judiciary must intervene suo motu and stop this financial genocide. The DHFL scam involves the regulatory authorities and the RBI. The connivance of the government departments including the highest office cannot be ruled out.
Justice is not a plea but a demand – as citizens of the largest democratic country, we DEMAND JUSTICE.
Kindly help us as we lost our hard earned life saving money
Just imagining the comic scene during defamation proceedings brought by Piramal.. Well, I’m reminded of the young boy, David and the famed undefeatable giant, Goliath. A small pebble darting from the sling struck Goliath between his eyes and the death knell was heard loud and clear.
The same fate waits for you, Piramal – the bloated wealth you created has the stains of blood and sweat of thousands of your countrymen. Their tears will not go in vain.
David will be coming, hell is waiting for your arrival but not before you pay for your sins.
The highest judiciary must intervene suo motu and stop this financial genocide. The DHFL scam involves the regulatory authorities and the RBI. The connivance of the government departments including the highest office cannot be ruled out.
Justice is not a plea but a demand – as citizens of the largest democratic country, we DEMAND JUSTICE.
https://insolvencytracker.in/2020/10/15/mistakes-that-they-make-common-violations-that-land-insolvency-professionals-in-trouble/
Reblogged this on Occupy Dalal Street and commented:
#Seize_Cronies_Fairplay_for_DHFL_Victims
#art_of_resistance_against_autocracy
#Stop_Piramal_From_Acquiring_DHFL
#alleged_dawood_mirchi_rkw_dhfl_bjp_collusion
#ajay_piramal_alleged_insider_trader
#Dear_Piramal_I_Wanna_be_Defamator
#Piramal_The_Eco_Terrorist