Praying for Suo Moto Cognizance: an online petition to the CJI of India

Posted on 15/05/2023 (GMT 08:32 hrs)

Updated on 26/05/2023 (GMT 05:00 hrs)

An Appeal To All The DHFL Victims

उतिष्ठत जग्रत वरान् प्राप्य तत् निबोधत।

निशिता क्षुरस्य धारा दुरत्यया दुर्गं तत् पथः इति कवयः वदन्ति ॥

Arise, awake, find out the great ones and learn of them;

for sharp as a razor’s edge, hard to traverse, difficult of going is that path, say the sages.

Praying for taking Suo Moto Cognizance for the DHFL Scam Victims VIEW HERE ⤡ @change.org

As we, the DHFL Victims, are in the same boat with fraternity, please sign the above mass petition on the Change.Org platform, obliviating all the enmities, structured competition.

Anyone may sign this online petition (with comments and hashtags) even if they are not direct victims of this scam but are well-wishers in the spirit of camaraderie. Share as much as possible.

So, your kith and kin, friends are all encouraged and welcome to lend their support by signing this petition, which would take only a minute or so.

WE NEED AT LEAST 5,000 SIGNATURES TO REACH OUR TARGET.

Text of the Petition

|| यतो धर्मस्ततो जय: ||

Sub: Requesting for taking Suo Moto Cognizance (Access to remedy) for saving the lives of ailing victims of business-related abuses in association with the one of the biggest scams in India related to Dewan Housing Finance Corporation Limited (DHFL)

In continuation of our open letter (Pleading for the DHFL Victims’ assertion of agency- marginalization due to financial abuse: A Letter to the Hon’ble CJI Chandrachud⤡) to you, the Dewan Housing Finance Corporation Limited (henceforth DHFL) scam victims are now humbly submitting a mass petition to you for recovering their hard earned money. The DHFL victims along with their kith-and-kin, friends, are earnestly requesting you to take Suo Moto Cognizance as: 

a)     many of the victims (FD and NCD holders of the DHFl) are not so rich to reach the expensive pulpit of the Supreme Court and they have already lost their life savings by investing in a highly rated solvent company, viz., DHFL, an ongoing concern;

b)    many of the victims are senior citizens, physically challenged persons, widows/widowers and they are depending on the returns from their FDs and NCDs. Even some governmental organizations, viz., the Air Force and UP power corporations have put their money in the form of FD or NCD. From such “safe” investment by the victims presupposes their inability to participate in the vulnerable stock market, controlled by a Himalayan Guru;

c)     the victims, a diasporic population, are not physically able to initiate non-violent peaceful movement against such a manufactured scam. The only way left for them is to take their recourse to web-based movements following the go of the day;  

d)    they are not tech savvy persons to raise their voices on the web platforms following the strategy of contemporary web-based social movements, the new fifth pillar of the democracy.  

e) people are also scared in the contemporary Indian autocratic scenario as observed several times by the Freedom House and V-Dem Institute. Hence, at this claustrophobic time of deceit, telling the truth is very difficult for them.

f) The Indian citizens have lost their faith in the Indian judiciary⤡, however, after your appointment as the Chief Justice of India, they have rejuvenated their faith in the sanctity of the legal process.

It is redundant to say that without mass mobilization or without pressure groups, the four other pillars (especially the Judiciary) cannot perform to establish free and just society. We, financially abused due to violation of our business related human rights as declared in the United Nations Guiding Principles on Business and Human Rights ⤡ (in this context, “Access to remedy for victims of business-related abuses”), are appealing to you for remedy, while happily keeping in mind the Suo Moto initiatives taken by the Hon’ble Indian Supreme Court by using its inherent powers, taking cognizance of serious matters of concern like the colonial sedition law on its own.

Sedition Law “Colonial”, Why Don’t You Drop It, Supreme Court Asks Centre VIEW HERE ⤡ (As reported on 15th July, 2021 ©NDTV)

In this context, we are also emphasizing on the Article 142, which provides a unique power to the Supreme Court to do “complete justice” between the parties, where, at times, the law or statute may not provide a remedy.

It is to be noted that some of the DHFL victims had previously approached the National Human Rights Commission (NHRC), India, but the petition was refused by stating that this type of case on financial abuse does not come under the purview of NHRC. 

FINANCIAL ABUSE OF THE DHFL VICTIMS BY THE CoC FOR DHFL: COMPLAINT TO THE NHRC VIEW HERE ⤡ ⤡ ⤡

I. FLASHBACK: BACKGROUND OF THE DHFL SCAM, FOR WHICH FD AND NCD-HOLDERS ARE VICTIMIZED

In a nutshell, the beginning of the narrative of the DHFL Scam is as follows: 

In October 2019, all payments to the DHFL FD holders were stopped after Mr. Ambani, through his company Reliance Nippon Life Insurance, approached the Hon’ble Bombay High Court, which gave its verdict on 10/10/2019. Soon after the company was brought under the IBC (2016) in November-December 2019, the board of directors were removed and the CoC was constituted. A simulated bidding war started between corporate groups such as Adani (who was more of a dummy bidder), Oaktree Capitals and Piramal Capital and Housing Finance Limited. All other bidders left the bidding to pave the way for Piramal’s acquisition. NCLT’s verdict (19/05/2021) to reconsider the full repayment proposal of the erstwhile directors of DHFL was left unheard, while the NCLAT verdict (27/01/2022) that designated the CoC resolution process to be “contrary to law”, “void” and as containing “material irregularities” was stayed by the Hon Supreme Court after Piramal approached it without first approaching the High Court. Piramal did the same kind of act when he ignored the NCLT order mentioned earlier and rushed off to the NCLAT to get the former order revoked within days. Whether the same can be admitted as a contempt of court or not requires judicial attention. Mr. Piramal thus presumably violated Article 215 of the Indian Constitution. It proves that he is more equal than others⤡.

For your convenience, we are forwarding the following links to make out the background of DHFL victim’s miseries.  

II. ALL ABOUT THE DHFL SCAM

i) A WHITE PAPER ON THE DEWAN HOUSING FINANCE CORPORATION LTD. (DHFL) VIEW HERE ⤡ 

ii) THE CHRONOLOGY OF THE DHFL SCAM VIEW HERE ⤡

III. REGARDING RBI-APPOINTED COC’S CONDUCTS:  

i) SMELLING THE RAT IN THE DHFL-COC RESOLUTION PROCESS: A LETTER TO THE PRESIDENT OF INDIA VIEW HERE⤡ 

ii) PLEASE COMPOSE AN OBITUARY FOR THE RBI-APPOINTED COMMITTEE OF CREDITORS (COC) FOR THE DHFL VIEW HERE⤡ 

iii) IBC SECTION 66 OVERLOOKED BY THE DHFL-COC: A BIG CONSPIRACY? ⤡

iv) YOU’RE ALL CAUGHT UP: RBI-APPOINTED COC FOR DHFL⤡

Kindly note that a Resolution Professional comes within the meaning of ‘Public Servant’ under Section 2(c) of the Prevention of Corruption Act, 1988 and Section 233 of IBC does not protect where he has been apprehended red-handed with the bribe amount – Sanjay Kumar Agarwal Vs. Central Bureau of Investigation, Anti-Corruption Bureau, Dhanbad – Jharkhand High Court. 

It is also to be duly noted that the old promoters of the DHFL, Mr. Kapil and Dheeraj Wadhawan, were not allowed to participate in the RBI-appointed CoC’s resolution process, even though the Hon’ble NCLAT New Delhi declared: “Suspended Director, who was representing the Corporate Debtor and has submitted the Settlement Proposal is entitled to participate in deliberation and negotiation undertaken by the CoC.” (in Sanjeev Mahajan Vs. Indian Bank (Erstwhile Allahabad Bank) & Anr.) 

THE GREAT NON-WILFUL ABSENTEES IN THE RBI-APPOINTED CoC FOR DHFL ⤡

We are reminded of the known fact that Bankruptcy will not void personal guarantees: Hon’ble Supreme Court VIEW HERE ⤡ (As reported on May 22, 2021 ©The Times of India). Let us look at the rules and regulations of IBC (2016) for such deliberate avoidance of the Wadhawan brothers (“former” promoters of the DHFL) by the CoC to hand the DHFL over to Mr. Ajay Piramal, a hostile bidder and an alleged insider trader ⤡, which appears to be a case of adverse possession⤡ or squatter’s right. 

IV. ALL ABOUT AJAY PIRAMAL, the “winner” of the DHFL Bidding:

a.     WHO IS AJAY PIRAMAL? VIEW HERE ⤡

b.     AN OPEN LETTER TO THE HONOURABLE QUEEN OF THE UNITED KINGDOM REGARDING THE HONORARY CBE AWARDED TO MR. AJAY PIRAMAL VIEW HERE ⤡

c.      THE PSYCHOANALYSIS OF A CRONY BILLIONAIRE:AJAY PIRAMAL  VIEW HERE ⤡

d.     REVEALING THE CONTROVERSIES ABOUT THE PIRAMAL GROUP: ADDITIONS ON WIKIPEDIA VIEW HERE ⤡

e.     WHY IS MR. AJAY PIRAMAL HIDING HIMSELF FROM THE SOCIALIZATION PROCESS? VIEW HERE ⤡

f.       GREETINGS TO MR. AJAY PIRAMAL: THE “SUCCESSFUL OWNER” OF THE DHFL AKA PCHFL AKA PIRAMAL FINANCE VIEW HERE ⤡

g.     DEAR MR. AJAY PIRAMAL, WANNA BECOME WILFUL DEFAULTERS FOLLOWING THE PATH OF 50+ SUPER-RICH BUSINESS BARONS VIEW HERE ⤡

h.     IF A[M]DANI SCAMS, CAN AMBANI-PIRAMAL BE FAR BEHIND? VIEW HERE ⤡

i.        SOME OPEN, CONTROVERSIAL QUESTIONS TO MR. AJAY PIRAMAL REGARDING THE DHFL ACQUISITION VIEW HERE ⤡

In conclusion, though it is a sad truism that “International law is the vanishing point of jurisprudence” ⤡, yet if sovereign government cuts a sorry figure to implement all the procedures to uphold international business-related rights of its citizens, a financially abused person would be compelled to take his/her/their recourse to the vanishing point, i.e.,  parallel international “law” (?) without hampering the sovereignty of the imagined nation state⤡. In doing so, the state must be compelled to fulfill its international human rights obligations. 

V. WHO IS RESPONSIBLE FOR THE DECEPTIVE AUDITING OF THE DHFL?

i.      What is the role of the auditors in the case of the DHFL scam? Did the DHFL lack any diligent auditing? Who is to be held responsible for such collapse of a profitable ongoing concern?

ii.      What is the role of the Rating Agencies in the case of the DHFL scam, an AAA-rated company?

Were the watchdogs (they cannot be bulldogs!) of financial affairs taking sedatives or sleeping pills during the so-called “fraudulent transactions” through the alleged “Bandra Books” (yet to be evidentially proved in the court of law) as well as the relation of the DHFL ex-promoters to Yes Bank promoter Mr. Rana Kapoor? 

Reliance On The Sanctity Of Audited Balance Sheet And Safeguarding The Country’s Financial Ecosystem: A Letter To The President, ICAI VIEW HERE ⤡ 

WHO IS RESPONSIBLE FOR THE DECEPTIVE AUDITING OF THE DHFL? AN RTI TO THE CAG OF INDIA VIEW HERE ⤡ 

VI. ALL ABOUT THE BRAND AMBASSADOR OF THE DHFL: MR. SHAH RUKH KHAN

Almost all the victims of the DHFL Scam are demanding the brand Ambassador’s judicial custody as he has deceived the consumers by promoting the DHFL, under the Consumer Protection Act, 2019⤡, for “False and Misleading Advertisements” by violating the rights of the consumers. Here, the brand ambassador of the DHFL did not follow the path of Mr. Mithun Chakraborty, who returned 1.15 crores taken from Saradha ponzi scheme to the Enforcement Directorate. For such deceiving advertisements, the consumers cannot come under the definition of caveat emptor (Let the buyer beware!).

• Let’s do it: Hitchhiking for Zakat for the ailing FD and NCD- Holders of the DHFL: a letter to SRK, DHFL Brand Ambassador VIEW HERE ⤡ 
• MR. SHAH RUKH KHAN, THE BRAND AMBASSADOR OF DHFL, HAS DECEIVED THE VICTIMS OF THE DHFL SCAM VIEW HERE ⤡ 

VII. ROLE OF THE RULING PARTY OF INDIA

On 29.01.2019, the Cobrapost, in its findings on the DHFL scam, reported that the Bharatiya Janata Party (BJP), the ruling party of India, was involved in this scam through terror-funding/political donation/political charity. The nexus/collusion amidst DHFL, RKW Developers (Dheeraj Realty), the BJP and the Dawood Ibrahim-Iqbal Mirchi Gang was alleged through this report.

• False allegations on the collusion among the BJP, Dawood-Mirchi and the DHFL: A Letter to the BJP President VIEW HERE ⤡
• AN RTI ON THE ALLEGED COLLUSION AMONG DAWOOD-MIRCHI-RKW-DHFL-BJP VIEW HERE ⤡

It is also to be mentioned that on 25.06.2022, the Indian National Congress alleged the BJP of getting political donations worth 27.5 crores (or more, as political parties are not “public authorities”, it is very difficult to know the exact figure of donations made by unknown sources in the electoral bonds. Ambiguously enough, in the case of PM CARES fund, it is simultaneously governmental as well as non-governmental. None can use the RTI for any enquiry about these transparently opaque cases) from the scam-hit DHFL. 

सुप्रिया श्रीनेत ने मोदी से लिया बड़ा पंगा , Supriya Shrinate Exposed Modi on DHFL Banking Fraud VIEW HERE ⤡

VIII. CONCLUSIVE REMARKS

From October 2019, DHFL victims are suffering from psychosomatic disorders for the reason of such scam, where they understand the real meaning of the proverb: Justice Delayed, Justice Denied. Some of them have suicidal tendencies or they are appealing for legalizing active euthanasia in India⤡.by compromising their “Right to Life” (Article 21 of the Indian Constitution). 

 PS: It is to be noted that this one is the sixth petition of the #DHFL_Victims. Other five (knocking the doors of the Gatekeepers) are listed below:  

 i.  An Urgent Appeal To The President Of India: Fixed Deposit Holders Of Dhfl ⤡

 ii.   Justice For The DHFL Fixed Deposit Holders ⤡

iii. Releasing of all Fixed Deposits (FDs) stuck at DHFL on humanitarian grounds ⤡

iv.  Respected President of India, Think Twice Before Annihilating DHFL FD & NCD-Holders⤡

v. An Appeal for Suo Moto Cognizance for the Victims of the DHFL Scam⤡

#Seize_Cronies_Fairplay_for_DHFL_Victims

#Stop_Piramal_From_Acquiring_DHFL

#alleged_dawood_mirchi_rkw_dhfl_bjp_collusion

#ajay_piramal_alleged_insider_trader

#Dear_Piramal_I_Wanna_be_Defamed