The Psychoanalysis of a Crony Billionaire: Ajay Piramal

Posted on 05/05/2023 (GMT 11:30 hrs)

Updated on 21/05/2023 (GMT 15:50 hrs)

I. Introduction

In continuation to our previous article, WHO IS AJAY PIRAMAL?⤡, this article shows the psychoanalytic analysis of Mr. Ajay Piramal. We have consulted many psychiatrists without mentioning Mr.. Piramal’s name but with the following instances of his deeds. In the Part II of this article, we will explore the instances of Piramal’s deeds and consequently provide the psychoanalytic findings based on those instances in the Part III of this article.

II. Instances

Instance 1: The Wire’s Report On The #Flashnet_Scam, The Bjp-Piramal Collusion And The Aftermath

It was found that Mr. Piramal was accused for buying Piyush Goyal (Union Minister under the BJP-led NDA)’s company at 1000 times its value. In the context of such political collusion of Mr. Piramal, the following report by The Wire deserves attention:

In Selling Firm to Piramal Group as Minister, Piyush Goyal Pushes Ethical Boundaries VIEW HERE ⤡ (As reported on 28th April, 2018 ©The Wire)       

Rahul Gandhi made several tweets on this issue after The Wire‘s report:

Piramal couldn’t answer and didn’t even bother to reply to The Wire reporter’s pertinent questions. As The Wire wrote:

“…the Piramal Group made no attempt to clarify any point, or offer an answer to our questions.”

However, the Piramal Group finally threatened The Wire for making “defamatory statements” against it:

‘No Wrongdoing’: BJP, Piramal Group React to The Wire’s Story on Piyush Goyal VIEW HERE ⤡ (As reported on 29th April, 2018 ©The Wire)

Piramal Group Responds to The Wire’s Story on Piyush Goyal VIEW HERE (As reported on 3oth April, 2018 ©The Wire)

Op India treated The Wire‘s Report as a “false propaganda” and a “lie”:

Piramal Group contemplates legal action against ‘The Wire’ for its malicious and defamatory article VIEW HERE ⤡ (As reported on 29th April, 2018 ©Op India)

The above statement was thoroughly supported by Nupur J. Sharma, the ex-national spokesperson of the Bharatiya Janata Party (BJP):

She was suspended from the BJP after the 2022 Muhammad remarks controversy.

Godi Media such as Times Now likewise reported Piramal’s reaction to The Wire’s so-called “baseless” allegations:

Instance 2: Piramal as an Insider Trader

Piramal was accused as an “insider trader. The violation of insider trading regulations by Mr. Piramal was pointed out by SEBI, India, though it was later refuted by the SAT, India, after Piramal’s appeal.

SEBI Finds Piramal Enterprises, Ajay Piramal Guilty Of Violating Insider Trading Regulations VIEW HERE ⤡ (As reported on 3rd October, 2016 © BloombergQuint)

SAT sets aside Sebi’s order against Piramal Ent, others in insider trading control lapses case VIEW HERE ⤡ (As reported on 15th May, 2019 ©The Business Standard)         

Piramal Enterprises fined Rs.6 lakh for insider trading VIEW HERE ⤡ (As reported on 5th October, 2016 ©The News Bytes)       



Section 15G: Penalty for insider trading VIEW HERE ⤡

An Instance of Punishment for Insider Trading: Rajat Gupta

Rajat Gupta and Goldman’s Insider Trading Bombshell VIEW HERE ⤡

Rajat Gupta fined $13.9 million for insider trading VIEW HERE ⤡ (As reported on 18th October, 2016 ©The Hindu)

Why is Ajay Piramal not punished yet for such similar insider trading?

Instance 3: Defamation against the DHFL Victims

Yet again, the Piramal Group has filed a threatening defamation against some of the DHFL Victims for committing “irreparable damage” to his so-called “spotless reputation”, after those victims pointed out the following issues:

a) Alleged Dawood-Mirchi-BJP-RKW-DHFL Collusion⤡;

b) Using Dubious Names (PCHFL and/or Piramal Finance) ⤡ and Claiming Ownership of DHFL⤡ while the company’s ownership-issue is still sub judice and has been questioned by the NCLAT (27/01/2022). After the said verdict, Piramal hastily took his recourse to the Supreme Court of India, emphasizing on IBC Section 32A; on the other hand, the 63 Moons’ case (to which the NCLAT replied through the previously mentioned verdict) emphasized on the Section 66 of the IBC⤡, which provides for the benefit of all the creditors;

c) Enlisted Mr. Piramal’s past deeds and controversies;

Piramal hired the DSK Legal Team to raise a crusade against the lower-middle class victims (most of whom are senior citizens, physically ailing persons, widows/widowers) of a manufactured financial abuse:

We are compiling the points and counterpoints to that defamation through the following URLs:

Pleasure of “The Trial”: a letter to PCHFL’s Legal Advocates VIEW HERE ⤡

Attack and Counter-attack: a letter to PCHFL’s Legal Team VIEW HERE ⤡

Āhlāda or Jouissance due to legal intimidation: follow-up letter to the PCHFL’s Legal Team VIEW HERE ⤡

Instance 4: The Sins of Piramal’s Real Estate Business

It is to be mentioned that Mr. Krishnaraj Rao was threatened by Real Estate Developers after he exposed the problems of Piramal Realty and other developers:

Instance 5: Anti-Green Sinner or Eco-Terrorist and The Narrative Of Stay Orders

Mr. Piramal, as an influential person as a secondary kin of Mr. Mukesh Ambani, a crony business tycoon, has also an obsession of taking stay orders on anything that goes against him. For Example, Piramal Enterprises, when it committed a grievous sin against the mother nature by polluting one of the pañca mahābhūta, viz., water, Mr. Piramal had got the stay order but later on he was condemned by the National Green Tribunal (NGT) for getting “blanket stay order”.

NGT refuses blanket stay on EC to be paid by Piramal VIEW HERE  (As reported on March 26, 2021 ©The Times of India)

The similar kind of events were observed in the case of DHFL. He got the stay not only from NCLAT (25/05/2021), but also from the Hon. Supreme Court, which gave him “blanket stay order” (11/04/2022) on the NCLAT verdict.

Moreover, Mr. Piramal is an Eco-terrorist, like a sadist, who takes nature (including human being) as a free gift, annihilates the biodiversity as well as financial eco-system without any hesitation.   

This type of violent action goes against the mottoes of his mission Piramal Sarvajal ⤡ and his CSR project (so-called philanthropy for saving taxes) of Piramal Foundation⤡.


We consulted a psychoanalyst to understand the reason behind Mr. Piramal’s multiple “defamation drives” as to what causes such a psyche and from where does such behavioural patterns emerge. Not only that, Mr. Piramal also tries to step away from his socialization process again and again by hiding/locking his profiles on the social media, suspending company accounts etc.

The psychoanalyst (psychiatrist’s anonymity being maintained by not mentioning the proper name) took some time to listen to us, after which she answered:

“Such a corporate psyche is the result of the existence of schizophrenic divided selves inside one person which makes him/her to engage in compulsive behaviour (a form of OCD, following DSM V) accompanied by a deep-seated personality aberration of Persecutory paranoia, causing doubts that someone might harm him/her in some manner or the other. People having this type of delusional disorder believe that someone or something is either mistreating, spying on, blaming, accusing or is attempting to cause injury. Persons affected with this kind of delusional disorder may make repeated complaints to legal authorities against certain persons or groups of individuals. This type of personality generally take their refuge to a religious guru⤡. Moreover, in Instance 5, we have seen that this corporate tycoon has a particular affinity and habit of getting stay orders as well as putting stay orders, along with his incessant urge to file defamation cases. This tendency to take legal recourse again and again also comes under the purview of OCD.

The Dilemma of schizophrenic selves: the changing names of companies under the Piramal Group: A letter to Mr. Ajay Piramal VIEW HERE ⤡

She also added that, Amartya Sen used the term “Schizophrenia”⤡ to refer to the Modi Government’s role during the P(l)andemic.

The psychoanalyst sent us the following link to substantiate her claim:

Delusional Disorder VIEW HERE ⤡

She also cited a different type of psychoanalytic take on the capitalist mind, the main source of the sick society:

Anti-Oedipus: Capitalism and Schizophrenia VIEW HERE

Usual Disclaimers Apply

regarding the psychoanalytic point of view.


Buying a company at a thousand percent premium is to be compensated by “other” means, which is evident in Mr. Piramal’s hostile act of occupying the DHFL by depriving more than one lakh FD and NCD Holders (buying the DHFL’s 45k crore of worth of assets for only a rupee).

In the context of the crony capitalism, the rule of the game is satisfying political leaders and depriving/exploiting the mass. In this way, the concentration of wealth is becoming evident in Mr. Piramal’s personality.



    When the world is declaring that Ajay Piramal has been wrongdoing, as share price manipulator and conniving with CoC, government agencies to usurp the monies of the common man in the most blatant, shameless and sadist manner, it is but obvious that the “future absconder” crony capitalists businessman is resorting to threats of bringing defamation suits. Ajay Piramal knows voices cannot be stifled, writings cannot be erased – the truth will be revealed, the intentions will be bared.

    Picking a few individuals who have the raw guts to challenge the corrupt system which aided Piramal, to face defamation proceedings will be a hard slap on Ajay Piramal himself ; the onus of proving that his prestigious, illusionary status has been dented by some common men, will lie on him.

    Liked by 6 people

  2. ravindramahidhar says:


    “This presentation is proving as 100% correct the proverb ” ROB PETER TO PAY PAUL”.

    Piramals had obliged Piyush Goyal (BJP minister) by buying a company with 1000 percent premium and then Piramals were compensated by giving full support (officially & unofficially) by BJP government to buy profit making (fictitiously declaring insolvent) DHFL (45000 cr. assetts against only Re 1/- ) total asset value 84000 crores WITHOUT SPENDING EVEN A COPPER PIE because whatever money they spent were against inviting fresh fixed deposits from public. How a so called insolvent DHFL which failed to repay/return back hard-earned money to FD holders was allowed to invite fresh FDs ?.

    How AAA rated company DHFL was allowed to forfeit our hard-earned money ?

    Why our Finance Ministry, Ministry of company/corporate, RBI kept silence when such a big looting and scam was under process?

    What actions taken by above concerned to repay our legitimate dues ?

    Why NCLT/NCLAT orders were ignored ?

    Why SC is not exercising Suo Moto and expediting Honest judgement?

    Can our chokidar reply to my above questions to prove his honesty which is at stake?”


    Liked by 7 people

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