Posted on 9th September, 2024 (GMT 11:45 hrs)
ABSTRACT
The article criticizes the review platform Mouthshut for allegedly suppressing the voices of victims of the DHFL (Dewan Housing Finance Corporation Limited) scam. It accuses Mouthshut of removing critical reviews and blocking user accounts(?), thus preventing the victims from sharing their experiences and seeking justice. The article highlights the frustration and helplessness of these individuals, who rely on platforms like Mouthshut to expose corporate malpractices and demand accountability.
I. Introductory Remarks
We remember a particular scene from the movie “Sonar Kella” (The Golden Fortress), written and directed by Satyajit Ray, where the sleuth Feluda’s speculation to go to Jaisalmer to capture the villains was obstructed twice by the criminals by spreading broken glasses on the road. This made Feluda concur that he was going in the right direction in his investigations.
In the same way, when we were proceeding with our web-based civil disobedience movement of the DHFL victims on the platform of Mouthshut.com, which is called as the largest review platform of India, all our reviews and blog articles (as posted from 7th September to 9th September) on Piramal’s various sub-companies were simply removed from the site within a night without any explanation or without showing any cause.
Thus, Mouthshut.com seems to be working in collusion with scamsters like Mr. Piramal and his associates in just annihilating or excluding evidence-based (empirically verified) reviews or articles related to the DHFL scam and more. Piramal can try to block DHFL victims’ voices by blocking the local Mouthshut.com, but he cannot block the vastness of the world wide web!
This is nothing new for the OBMA activists, given the fact that one of our fellow comrades was attacked with defamation as well as contempt petitions by Piramal’s legal firm DSK Legal multiple times earlier. They also tried to eliminate our tweets on the issues of political corruption and corporatization of the Indian republic. Such a superrich tycoon as Piramal even tried to commit the “geo-blocking” of our posts (on Linkedin, Facebook and Twitter), but without any success at the age of VPNs and other techno-tools. Over and above that, one of our activists faced phone-call death threats, phishing attempts and many more. We also had faced such “exclusions” and post removals when we attempted to revamp the Wikipedia pages on and of Piramal with relevant information pertaining to his fishy business activities.
Yet, we never stepped back and accepted defeat on the face of such obstacles put forth by the agents of crony and monopoly capitalism in India.
Hence, we are compiling one-by-one all those reviews and articles on this platform of ours as follows:
II. THE BLOG ARTICLE BY OBMA THAT WAS REMOVED
The DHFL Scam: A Breakdown of One of India’s Largest Financial Scams
The Dewan Housing Finance Corporation Ltd. (DHFL) scam is one of the most significant financial frauds in India’s history. With thousands of investors, including senior citizens, physically challenged individuals, and even organizations like the Air Force Group Insurance Society, the Sasakawa leprosy foundation and UP Power Corporation Limited (UPPCL), losing their life savings, the repercussions of this fraud are widespread. The scam reveals deep-rooted issues in India’s financial system, from regulatory failures to political involvement and deliberate corporate negligence.
The Collapse of DHFL: How It Began
Founded in 1984, DHFL was initially designed to cater to the housing finance needs of lower and middle-income groups. Over the years, it grew into one of India’s largest financial institutions. However, its downfall began to unravel in early 2019 when investigative journalism platform Cobrapost exposed fraudulent activities. According to the Cobrapost report on January 29, 2019, DHFL had siphoned off ₹31,000 crore of public money, with allegations ranging from money laundering to connections with terror funding via the channel of Dawood Ibrahim and Iqbal Mirchi.
Despite the gravity of these claims, DHFL maintained that the amount in question was part of its project loan portfolio, and not misappropriated funds. This defence, however, didn’t hold up for long, as the company defaulted on loan payments on June 6, 2019, leading to a credit rating downgrade and a spiralling financial crisis.
A Web of Political Connections and Corporate Misconduct
The DHFL scam wasn’t just a corporate failure. It was deeply entangled with long-term issues in mainstream politics. Soon after the Cobrapost revelations, allegations surfaced that DHFL had made illegal political donations, violating Section 182 of the Companies Act. These donations were allegedly linked to the ruling Bharatiya Janata Party (BJP), sparking further controversy. Indian National Congress accused the BJP of benefiting from funds tied to terror financing, with connections to underworld figures like Dawood Ibrahim being drawn. The political donations controversy came just after the 2019 general elections, hinting at deeper political entanglements.
Amidst this, Mr. Ajay Piramal’s involvement became a point of contention. His business-career is full of insider trading, environmental terrorist (in the derogatory sense) and general crony allegations. We will get back to him in a moment.
On November 20, 2019, the Reserve Bank of India (RBI) removed DHFL’s board, citing governance issues, and soon after, DHFL entered the Corporate Insolvency Resolution Process (CIRP) on December 3, 2019, led by the Reserve Bank of India-appointed Committee of Creditors (CoC) under the ill-conceived Insolvency and Bankruptcy Code (IBC, 2016). The bidding process was marred by irregularities as well as the total absence of erstwhile promoters, with BJP’s favourite crony Adani acting as a “dummy bidder” to ensure Piramal’s acquisition.
Piramal’s group won the bid to take over DHFL on February 18, 2021 (the day when RBI gave its nod in favour of Piramal’s settlement proposal) with massive haircuts for the small depositors, but questions remained over the transparency of the process, especially with regard to the biased and funded role of the resolution professional R Subramaniakumar and FD Holders’ Representative Charu Sandeep Desai. The entire 45k Cr worth of assets of DHFL were simply “bought” at a nominal price of rupees one! How is this even possible unless it is a case of adverse possession? Wadhawan, DHFL’s promoter, lodged complaints against Piramal’s resolution plan, claiming it was undervalued and resulted in major losses for creditors. Oaktree capitals, one of the bidders for DHFL, alleged a unilateral bias of the CoC for Piramal. The situation escalated when the NCLT (National Company Law Tribunal) approved Piramal’s resolution plan on June 7, 2021, despite the objections raised in its previous verdict on 19th May, 2021 that directed the CoC to reconsider the full repayment proposal of the Wadhawans, which was indefinitely stayed by the NCLAT on 25th May, 2021 when the CoC led by Mr. Piramal rushed to the latter without answering NCLT’s pertinent points of keeping the DHFL as an ongoing concern. In fact, the CoC responded to this controversial verdict by saying that if orders such as these are entertained, it would set a “bad precedent” in the way of legitimizing the IBC as a “test case” in the laboratory state of DHFL resolution process, where the victims were treated as mere guinea pigs, who can be mercilessly tested or experimented upon.
The Role of Credit Rating Agencies and Auditors
One of the most alarming aspects of the DHFL scandal was the role of credit rating agencies and auditors. Despite the company’s shaky financial footing, agencies continued to rate DHFL highly until the company defaulted on payments. These misleading ratings played a significant role in attracting more investors, many of whom were unaware of the company’s deteriorating financial health. Auditors, too, failed to detect or disclose the full extent of the fraud, signing off on DHFL’s balance sheets despite glaring irregularities.
The lack of accountability among auditors and credit rating agencies only fuelled the crisis. In the aftermath, calls for stricter regulations and punitive action against these entities grew louder, as their negligence played a crucial role in perpetuating the scam in the first place.
Fake Loans and Fund Misappropriation
One of the most shocking aspects of the DHFL scam was the creation of fake loans. On March 24, 2021, the Central Bureau of Investigation (CBI) filed a case against DHFL for allegedly creating 260,000 fake home loan accounts to siphon off ₹14,046 crore under the Pradhan Mantri Awas Yojana (a government housing scheme). This fraudulent activity showcased not only the corporate greed within DHFL but also the loopholes in government initiatives meant to curb financial fraud.
The scam highlighted the inefficacy of measures like Aadhaar-PAN linkage and the 2016 demonetization (announced on November 8, 2016), which were supposed to eliminate financial irregularities as well terror-funding sources. Despite these initiatives, DHFL managed to defraud thousands of investors and escape regulatory scrutiny for a significant period, keeping in mind its political “charity” to the BJP.
Victims: Those Left in the Lurch
The scam devastated numerous individuals and organizations, with some of the worst affected being small-time investors and senior citizens. These people had placed their life savings into DHFL’s fixed deposits and non-convertible debentures, only to see their money wiped out. In many cases, these individuals depended on these investments for their survival, leaving them in dire financial straits.
Adding to their woes, the victims have faced several hurdles in seeking distributive justice. Many of them, being elderly or lacking the required technical know-how, have been unable to mount legal challenges or protest effectively through mass mobilization through either the online or offline modes. This is compounded by an autocratic environment in India, where fear of repercussions limits public demonstrations or demands for accountability.
Legal Loopholes and the Battle for Justice
The legal entanglements of the DHFL case are complex and ongoing. After DHFL entered the CIRP in late 2019, the RBI-appointed Committee of Creditors (CoC) was criticized for handling the resolution process poorly, as was mentioned previously. Retail investors and fixed deposit holders constituting a significant voting strength within the CoC were largely ignored, and the CoC’s decisions were thus seen as biased, predetermined and with crony intent. Wadhawan contested the resolution plan, claiming it was unfair and that his alternative offer, which proposed 100% repayment to creditors, was left ignored on December 14, 2020.
The resolution process became more convoluted when the National Company Law Appellate Tribunal (NCLAT) ruled in January 2022 that the CoC’s resolution plan, which favored Piramal, was illegal and irregular. This ruling was stayed by the Supreme Court on April 11, 2022, allowing Piramal to go ahead with the acquisition. However, as was in the case of the first NCLT verdict in 2021, Piramal did not even care to address the crucial issues as pinpointed by the NCLAT’s second order after 63 Moons Technologies approached it. This makes the DHFL resolution a shadowy and fishy affair, indicating the fact that Piramal has always remained in the good book of the BJP, given his earlier involvement in the Flashnet scam that benefitted the BJP Union Minister Piyush Goyal, and also the reportedly crucial fact that Mr. Piramal donated 85 crores to the BJP through the unconstitutional mediation of the electoral bonds.
This legal back-and-forth has caused significant delays in justice for the victims, tilting the process more in favour of the crony business tycoons like Mr. Piramal. With the courts still grappling with the intricacies of the case, many of those affected are suffering from psychosomatic issues and suicidal tendencies due to prolonged uncertainty over their seemingly lost savings.
The Brand Ambassador and Misleading Advertising
Another controversial figure in the DHFL scam is the popular Bollywood actor Shah Rukh Khan, who served as the brand ambassador for the company during Wadhawan’s reign. His endorsement is seen by many as having misled consumers into trusting DHFL. Comparisons have been drawn with past incidents, such as the Saradha Ponzi scheme, where Mithun Chakraborty, another Bollywood star, took the responsibility of returning the money he had earned from endorsing a fraudulent company.
Although Khan’s involvement is less direct, it raises questions about the responsibility of celebrities like him in promoting financial products and their accountability under the Consumer Protection Act. Moreover, the DHFL scam makes investments in FDs less and less secure without any preceding disclaimer (such as those found in the advertisements for Mutual Funds) for the FD customers.
The Call for Accountability
The DHFL scam has laid bare several flaws in India’s financial, political, and legal systems. From the involvement of incumbent political parties to corporate misconduct and regulatory failures, the scam has affected thousands of lives and eroded public trust in financial institutions.
A Suo Moto petition has been requested by a few thousands of the DHFL victims, calling on the present Chief Justice of India to take action on 4th May, 2023. The petition demands that the judiciary intervene to recover the hard-earned money of DHFL investors since this is clearly a case of the curtailment of business-related rights. It also highlights how international human rights principles have been violated, as the scam represents financial abuse on a massive scale. One has to keep in mind that international law is the vanishing point of jurisprudence.
While the legal battles continue, there is growing pressure for systemic long-term reforms, including the scrapping of the Insolvency and Bankruptcy Code (IBC), which is an ill-conceived code that has been amended multiple times due to the incoherence as well as incompatibility of its provisions that are aimed to fill the coffers of the exploiting few at the expense of the exploited many. The failures of auditors, credit rating agencies, and regulatory bodies must be addressed, and stricter laws must be implemented to prevent future financial frauds as well as crony-monopoly capitalist tendencies. Above all, the victims of the DHFL scam deserve justice, and their stories must not be forgotten as the case drags on in courtrooms.
Conclusion: The Bumpy Road Ahead…
The DHFL scam is a glaring example of how systemic corruption, political influence, and corporate greed can devastate an entire financial ecosystem by harassing, extinguishing and terminating innocent common citizens through a different type of “capital” punishment. The victims, many of whom have lost their life savings, continue to fight against the CoC and Piramal’s negative role in the process. Unless these issues are addressed, similar scams may continue to emerge such as those pointed out by the Hindenburg Report on the Adani Group.
The need of the hour is accountability at all levels—from political entities to corporate stakeholders. The Suo Moto petition calling for legal intervention is a step in the right direction, but the road to recovery for the victims remains long and uncertain. It is up to both the judiciary and the government to ensure that those responsible are held accountable and that justice is finally served. As we remember the common statement: Justice Delayed is Justice Denied.
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THEN…
NOW…
Mouthshut Link that No Longer Works: https://www.mouthshut.com/articles/the-dhfl-scam-a-breakdown-of-one-of-indias-largest-financial-scams-dabgmrnonp
III. THE REVIEWS THAT WERE REMOVED MULTIPLE TIMES
PIRAMAL REALTY
i. Climate Crisis, Mumbai and Piramal Realty by Debaprasad Bandyopadhyay
Ajay Piramal is exploiting coastal areas of Maharashtra by building skyscrapers. Consumers must be aware of such catastrophic situation in the Mumbai coastal area and restrain from buying properties from Piramal Realty before being a climate refugee. Please note that Byculla is located at an elevation of None meters (0 feet) above the sea level (See Map).
Mouthshut Link that No Longer Works: https://www.mouthshut.com/builders-and-developers/piramal-realty-mumbai-reviews-925895141
ii. Caution: Buying Flats in the Mumbai Area by Akhar Bandyopadhyay
Mumbai is considered to be a climate threat zone (one of the “top 20”), given the high risk of the city getting submerged under the Arabian Sea by 2030-2050. Moreover, tropical cyclones, overflooding, and erratic monsoon downpour further worsen Mumbai’s climactic condition. Within such a state of affairs, Ajay Piramal is selling real estate in these threatened regions to the consumers. At the time of crisis of Mumbai Coastlines giving rise to ecological refugees, Mr. Piramal will surely be found nowhere at the site, and he will most probably fly away scot-free just like the superrich wilful defaulters. Piramal Mahalaxmi’s locus, viz., Jacob Circle, is just 3 metres above the sea level (See Map).
Mouthshut Link that No Longer Works:
https://www.mouthshut.com/projects/piramal-mahalaxmi-mahalakshmi-mumbai-review-ununmtrmrnp
iii. Destroying Environment, Duping Customers by Rupa Bandyopadhyay
It is already known that Mr. Ajay Piramal is an environmental terrorist in the negative connotation in the context of Digwal, Telangana pollution. He, as a real estate developer, earns unearned increment by selling anti-green architectural imperialism in ecologically threatened zones (Kindly observe that Mulund is just 11 ms above the sea level, where Piramal Revanta is situated; See Map) in the name of “development”. Moreover, Piramal Realty is known for duping customers and needlessly lengthening the process of construction in contradistinction to consumer demands as well as failing to meet the promises made to the latter. See below the documented evidences on this as done by Mr. Krishnaraj Rao as well as Mr. Siddarth Jaaju:
Mouthshut Link that No Longer Works: https://www.mouthshut.com/projects/piramal-revanta-mulund-mumbai-review-olpullsmrnp
iv. Derangement, Realty, Hypocrisy by Abhijit Sisyphus
It is severe mental derangement to buy flats from Piramal Realty on the coasts of Mumbai by taking loans from PCHFL in the context of anthropogenic global heating or environmental catastrophe. Mr. Ajay Piramal even established a temple named Sri Sri Radha Govindadeva Mandir under the ISKCON(allegedly associated with CIA) to mask his reported misdeeds in the Flashnet Scam, DHFL scam, Digwal pollution and his role as an alleged insider trader, thus exploiting the sigh of the oppressed creatures as an agent of pre-debt-or economic oligarchy. “Hypocrisy ki bhi seema hoti hai!”
Mouthshut Link that No Longer Works: https://www.mouthshut.com/projects/piramal-revanta-ravit-mulund-mumbai-review-mnsopmunrnp
v. Piramal Realty’s Harassments by Sura Shandilya
Namaste Jebkatnewala, The Paramavaisnava alleged insider trader & environment-terrorist (in the derogatory sense), Ajay Piramal! Installing skyscrapers is like building castles in the air when we can no longer afford it in the situation of the irreversible environmental catastrophe. Even NRIs have been harassed by Piramal Realty in ways that do not fit into the framework of business ethics:
1. https://www.youtube.com/watch?v=Q7vroR-JNu0
2. https://www.youtube.com/watch?v=jClRMjbm6wI
Mouthshut Link that No Longer Works: https://www.mouthshut.com/projects/piramal-aranya-byculla-mumbai-review-rlpsumunrnp
vi. Police, Realty and Flat-Buyers by Chaosophical Rhizome
Law enforcement and the judiciary cannot always be relied upon to protect the interests of flat-buyers from exploitation by builders. When police mediate between defrauded flat-buyers and builders, the agreements reached often contain significant loopholes that enable the builder to escape accountability. Builders frequently suggest out-of-court settlements to evade civil litigation, but these “fake” settlements are typically either ineffectual or detrimental to the flat-buyers’ interests. This is what usually happens in the case of Piramal Realty’s tricks to target flat-buyers who approach the police!
How can the Paramavaisnava Piramal, who is so closely associated with religious leaders, do such deceitful things?
VIEW MORE: https://www.youtube.com/watch?v=2hPdxbbZGXU
Mouthshut Link that No Longer Works: https://www.mouthshut.com/projects/piramal-mahalaxmi-mahalakshmi-mumbai-review-sruptnunrnp
vii. Buyer Rights Undermined in Piramal Revanta by Ecosexual Aranyak
The Piramal Revanta Towers 1 to 4 are set for possession between 2023 and 2026, with bookings currently ongoing. The draft Agreement available on the RERA website reveals a heavily one-sided contract. It grants PRL Developers Private Limited unrestricted rights to fully capitalize on the land’s development potential, leaving no room for flat-buyers to raise objections.
Additionally, the exit clauses are highly skewed in favor of the developer. The so-called Piramal Assurance is a cleverly crafted legal document that, in reality, undermines the rights of flat-buyers rather than protecting them.
All this has been exposed in detail by Mr. Krishnaraj Rao:
VIEW MORE: https://onceinabluemoon2021.in/2022/07/30/exposing-piramal-realty-krishnaraj-rao/
Mouthshut Link that No Longer Works: https://www.mouthshut.com/projects/piramal-revanta-mulund-mumbai-review-upntpsunrnp
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PIRAMAL CAPITAL AND HOUSING FINANCE (PCHFL)
i. BE AWARE OF AJAY PIRAMAL!!! by Debaprasad Bandyopadhyay
It is found that Ajay Piramal and his group of companies are allegedly engaged in different activities with legal conflicts:
He is an insider trader in the Abbott Laboratories Case in 2010. He has not been punished for that yet.
Hon’ble Minister Piyush Goyal sold his firm to favoured billionaire Piramal at almost 100% premium in 2014.
Piramal has coercively acquired the Dewan Housing Finance Corporation Limited(DHFL) by ignoring the NCLT First order in May 2021, i.e., by engaging in a “contempt of court”. Thus, his effort to forcefully acquire the DHFL, an ongoing concern, is totally illegal as it is still sub judice(under adjudication). He did it with the help of the RBI-appointed CoC for DHFL whose conduct is already questioned by the Standing Committee of the Parliament of India.
Ajay Piramal is publicly known as the follower of Ramakrishna-Vivekananda Tradition, a lover of the Gita and a devotee of Radhanath Swami, a Vaisnava guru and an alleged person with legal conflict. He used all these as his masks since he deprived a large number of DHFL FD, NCD and Shareholders by buying DHFL, an ongoing concern, at a throwaway price.
Do not take loans from this company. The Piramal Group is a great deceiver.
Dear Friend,
May you please help me out by signing this petition? If you wish, kindly circulate it among your relatives and friends to rescue DHFL Victims from cruel financial abuse caused by the .Piramal Capital & Housing Finance Ltd. All the details of this con company are to be found in the following e-petition link.
Mouthshut Link that No Longer Works:
https://www.mouthshut.com/review/piramal-capital-housing-finance-review-umnuoporruo
ii. Con-company grabbing DHFL by unfair means by Akhar Bandyopadhyay
In September 2021, Mr. Ajay Piramal started disbursing merely 23% of the total FD amount to the respective FD Holders of DHFL(after he occupied the company without bothering about the due legal processes) the rest of the amount going for a major haircut. Financial deprivation (curtailment of business-related human rights due to financial abuse) of thousands of FD and NCD Holders is apparent in this context through the predetermined ritual of the RBI-appointed CoC’s resolution process, committing the spurious arithmetic of equating 45k crores worth of assets and only a rupee!
Mouthshut Link that No Longer Works:
https://www.mouthshut.com/review/piramal-capital-housing-finance-review-moutqrnnruo
iii. What’s in a name??? by Rupa Bandyopadhyay
Piramal CHFL has been using dubious names across social and print media platforms to hide the fact that it has acquired the Dewan Housing Finance Corporation Limited(DHFL) by using unfair means. The names that are being simultaneously used are: Piramal CHF and/or Piramal Finance. It is also to be noted that the acquisition of DHFL is pending at the court of justice, however, the same is not stopping Piramal from claiming ownership of this ongoing concern over and over again. He spent one rupee to buy 45k cr worth of assets of the DHFL. He ignored the NCLT first order(19/05/2021) and hurriedly put a stay on the NCLAT second order(27/01/2022). Moreover, in June 2024, Piramal Enterprises is merging with Piramal Capital and Housing Finance Ltd, possibly to avoid legal conflicts that surround Piramal’s adverse possession of the DHFL.
Mouthshut Link that No Longer Works:
https://www.mouthshut.com/review/piramal-capital-housing-finance-review-notutsnnruo
iv. Crony Company Not To Be Trusted by Abhijit Sisyphus
Con-Company that is in collusion or nexus with the ruling party and as a secondary kin of Mr. Mukesh Ambani, Mr. Ajay Piramal is the forbearer of crony capitalism in India. After viewing all the reviews on this page, I have understood that he is not a trustworthy person from whom we can take loans or buy properties.
Mouthshut Link that No Longer Works:
https://www.mouthshut.com/review/piramal-capital-housing-finance-review-rlmrmrrnrnp
v. PCHFL’s role in the DHFL Scam by Sura Shandilya
PCHFL has acquired Dewan Housing Finance Corporation Limited (DHFL)’s profitable assets valued at 45,000 crore INR for a nominal amount of rupees 1. This situation is notable in the context of major financial events in India, similar in impact to the Hindenburg Report on the Adani Group. Prospective buyers or those considering loans from PCHFL should be aware of this context, as it has led to significant financial losses for DHFL’s stakeholders due to the resolution plan, which has faced criticism for various irregularities and legal concerns as highlighted in the NCLAT’s verdict on January 27, 2022.
Mouthshut Link that No Longer Works:
https://www.mouthshut.com/review/piramal-capital-housing-finance-review-tmsprmunrnp
vi. Flashnet Scam and Quid Pro Quo Affairs by Chaosophical Rhizome
There is a controversy involving the DHFL (Dewan Housing Finance Corporation Limited) and Piramal Group, connected to a broader scandal. In fact, the ruling party seems to have facilitated a “return gift” to Mr. Piramal’s company in the form of the profitable DHFL for its crony involvement in the Flashnet Scam with the Union Minister Mr. Piyush Goyal. It seems that this was done as a reward for his role as a beneficiary of the ruling party. Hence, there seems to be a quid pro quo relationship between the ruling party and Mr. Piramal.
VIEW MORE:
Mouthshut Link that No Longer Works:
https://www.mouthshut.com/review/piramal-capital-housing-finance-review-unurnounrnp
PIRAMAL PHARMA LTD.
i. The Disease of Digwal, Telangana by Debaprasad Bandyopadhyay
It is concerning how Piramal Pharma Limited, by using Shadow Companies such as Global Drugs Ltd., polluted Digwal’s land-air-water by following the Summersian blue-print of profiting from manufactured or crafted environmental crisis. Despite villagers’ opposition as well as National Green Tribunal’s litigation, the Piramal empire was forcibly expanded without heeding ecological entitlements.
View Here: https://www.researchgate.net/publication/378766788_THE_SUMMERSIAN_FATE_READING_THE_DISEASE_OF_DIGWAL
Mouthshut Link that No Longer Works:
https://www.mouthshut.com/review/piramal-pharma-review-uroqollnrnp
ii. Piramal’s Medical Nemesis and Blanket Stay Orders by Akhar Bandyopadhyay
In Digwal, Telangana, the last decades witnessed a major pharmacological encroachment by Piramal Pharma as it territorialized the environmental peripheries of the said village and its adjoining territories through the violent clinical gaze of Iatrogenesis.
In response to a petition filed by activist K. Lakshma Reddy in 2018, the National Green Tribunal(NGT) formed a joint committee, which proposed an environmental compensation of ₹8.34 crore on Piramal’s company in November 2019 for violating environmental norms in Digwal, Telangana. This fine was issued under the “Polluter Pays” principle and also implicated other companies. The Telangana State Pollution Control Board(TSPCB) ordered the payment in December 2020.
Piramal sought a blanket stay order to avoid the payment but was only granted a partial stay by the NGT in March 2021. Despite this, Piramal’s company received approval for expansion from the Telangana government in February 2021. Later, in July 2021, the NGT directed Piramal to pay ₹3.2 crore within a month.
In fact, Piramal has a history of seeking stay orders to delay or avoid compliance with legal rulings, as was seen in both the Digwal case and the Dewan Housing Finance Corporation Limited(DHFL) case. In the DHFL case, Piramal twice tried to bypass the controversial verdicts from the NCLT(19/05/2021) and NCLAT(27/01/2022) by seeking “blanket” stay orders. This makes him a habitual blanket stay-order seeker!
VIEW MORE:
Mouthshut Link that No Longer Works:
https://www.mouthshut.com/review/piramal-pharma-review-mosqqlunrnp
iii. Violence of Paramavaiṣṇava Ajay Piramal by Rupa Bandyopadhyay
It is curious to note that Mr. Ajay Piramal, a so-called “Paramavaisnava” and self-proclaimed philanthropist, who is also the follower of Sri Radhanath Swami, is involved in multiple cases of alleged hostility against nature, against fetuses and against citizens:
Piramal Pharma committed pollution in Digwal, Telangana, through allegedly different shadow companies, and was directed to pay environmental compensation for this reason. Strikingly enough, he opened the Piramal Arogya Seva Kendra in the same village as well as Water ATMs through CSR after creating the crisis.
Piramal Healthcare’s “I-pill” is the major over-the-counter emergency contraceptive pill for terminating unwanted pregnancies. He, as an ahimsaka vaisnava, is thus involved in the process of terminating developing life.
Piramal Pharma manufactures “Our Daily” with Omega-3 that is extracted from fishes, thus going against the vegetarian code of Vaisnavism.
VIEW MORE:
Mouthshut Link that No Longer Works:
https://www.mouthshut.com/review/piramal-pharma-review-srlsslunrnp
iv. Piramal’s Pharmaceutical Garden by Abhijit Sisyphus
Derrida, when he was analyzing Plato’s discourse on Pharmacy, talked of the “pharmakon” as designating both venom and nectar at the same time. Mr. Ajay Piramal is churning the ocean, which at a time produces insidious toxin and ambrosia, or venom in the disguise of nectar. Mr. Piramal is building skyscrapers in the vulnerable coastal areas of Mumbai, making APIs by putting nature’s rights into oblivion, giving out loans by allegedly duping customers, allegedly possessing DHFL via adverse occupation and so on. His reportedly negative involvement in the case of Digwal highlights this antithetical connotation of pharmacy: where the cure itself causes illness as a metaphor.
VIEW MORE:
Mouthshut Link that No Longer Works:
https://www.mouthshut.com/review/piramal-pharma-review-mqrqlsrnrnp
v. Polluter of Digwal, Telangana by Sura Shandilya
Who doesn’t remember Piramal Pharma’s deeds in Digwal, Telangana, through alleged shell games?
In 1998, a state court in Telangana concluded that “allegations to the effect that by reason of discharge of the industrial effluents, the agricultural lands have been affected stands beyond reasonable doubt.” One government analysis of water from a Digwal in 1998 itself concluded, “Sample is not suitable for potable or irrigation purposes.”
Furthermore,
A district judge wrote in 1999: “I have personally visited the premises of Global Drugs . . . This is a highly polluting industry.” He called on the state Supreme Court to order compensation for the affected farmers. A 1999 court order addressed to Global Drugs (Piramal Pharma’s alleged shell company) noted that “effluents have formed a cesspool which is causing surface and groundwater pollution, and your effluent treatment capacity is not adequate.”
Mouthshut Link that No Longer Works:
https://www.mouthshut.com/review/piramal-pharma-review-smnrnnunrnp
vi. Nixit Lozenges to Cure Nicotine Addiction by Chaosophical Rhizome
Many Dewan Housing Finance Corporation Limited (DHFL) Victims have reported that they are suffering from various anxiety disorders after the adverse possession of the DHFL by Mr. Ajay Piramal by committing huge haircuts. This anxiety predicament is causing them to take their resort to nicotine and alcohol addiction. Some DHFL victims had thus requested Piramal Pharma to supply a few samples of Nixit Lozenges to get rid of this addictive enterprise that was caused by the financial victimization in the DHFL Scam. It is also to be noted that Piramal Pharma’s Nixit Lozenges have a wide range of side-effects such as: Mouth sores, Blisters or irritation in throat and mouth, Nausea or Vomiting, Acid or sour stomach, Diarrhea, Belching and Heartburn, Unusual tiredness and weakness, Severe headache, Fast/irregular heart beat, Severe skin allergy, Difficulty in falling asleep as well as Dizziness and lightheadedness
VIEW MORE: https://www.researchgate.net/publication/375604570_SmoKING_Kills_The_Paradoxes_of_Contemporaneity
Mouthshut Link that No Longer Works:
https://www.mouthshut.com/review/piramal-pharma-review-mqouununrnp
PIRAMAL FOUNDATION
i. Disguising Cannibalistic Pre-Debt-or Capitalism by Debaprasad Bandyopadhyay
Piramal Foundation is nothing more than a CSR project aimed towards masking his environmental terrorist (in the negative connotation) agendas (as was seen in Digwal, Telangana), the allegations of insider trading as alleged by SEBI, crony transactions in the Flashnet Scam (as well as in Piramal’s 85 crore donations to the BJP through electoral bonds) and possible contempt of court in the DHFL scam.
VIEW MORE: https://onceinabluemoon2021.in/2024/04/06/ajay-piramal-in-the-ring-of-fire-of-controversies/
Mouthshut Link that No Longer Works:
https://www.mouthshut.com/review/piramal-foundation-review-unlqslsmrnp
ii. Compensatory Process by Terminating “Other” by Akhar Bandyopadhyay
Interestingly, the so-called “paramavaiṣṇava” Mr. Ajay Piramal has come up with many CSR initiatives under “Piramal Sarvajal” and “Piramal Foundation”. Piramal Sarvajal purportedly provides “Water for All” by creating Water ATMs in public places. First of all, he (or his shell company) creates water-air-land pollution in Digwal and then presents himself as the “philanthropic” provider of drinking water! What a Summersian paradox all over again! Secondly, the Water ATMs of Piramal Sarvajal use the Reverse Osmosis (RO) technique for water purification, which is again harmful for the environment as well.
Mouthshut Link that No Longer Works:
https://www.mouthshut.com/review/piramal-foundation-review-uotmulsmrnp
iii. Philanthropist and Financial Abuser: Schizo? by Rupa Bandyopadhyay
Under the garb of preaching Vaisnavism in coming up with philanthropic endeavours, Mr. Ajay Piramal is the same person, who is associated with the alleged financial maltreatment of DHFL victims as well as Insider trading. His supposedly “non-violent” vaisnava persona of “knowledge, action, care”(with jnana mudra) is contradicted when he extinguished the business-related human rights of thousands of DHFL victims. Moreover, corporate tax paid by Piramal or any other corporate tycoon is much lower than the tax paid by any individual middle class tax-paying Indian citizen.
Mouthshut Link that No Longer Works:
https://www.mouthshut.com/review/piramal-foundation-review-ptsnmmunrnp
iv. Piramal the crony fugitive by Abhijit Sisyphus
Piramal Foundation is a compensatory process for hiding the alleged misdeeds of Mr. Ajay Piramal under a philanthropic guise. In this way, Mr. Piramal not only saves taxes, but also displays his “liberal”(?) face of falsehood. Thereby he remains in the good book of the ruling political party as it is expected in the context of crony and monopoly capitalism. His actions are antithetical to his projected vaisnava dharma. He seems to be a crony fugitive with possible duel personality disorder, who lodges legal cases against anyone who reveals the underlying characters of his spirit of “charity”!
VIEW MORE:
Mouthshut Link that No Longer Works:
https://www.mouthshut.com/review/piramal-foundation-review-urnmnmunrnp
v. “Philanthropist” Piramal’s CBE? by Sura Shandilya
When the Queen of United Kingdom was alive, some victims of Mr. Piramal’s mask of philanthropism wrote a letter to the former.
The said open letter expressed concern and dissatisfaction with the decision to award an honorary Commander of the Order of the British Empire(CBE) to Mr. Ajay Piramal. The letter argued that Piramal’s business practices as well as philanthropic endeavours as done through Piramal Foundation, which allegedly include unethical behavior and questionable business dealings, are not in alignment with the values and principles typically honored by such awards. The letter called for a reevaluation of the decision to ensure that honors reflect integrity and merit.
VIEW THE LETTER HERE:
Mouthshut Link that No Longer Works:
https://www.mouthshut.com/review/piramal-foundation-review-sqooonunrnp
vi. The King, CBE and Mr. Piramal by Chaosophical Rhizome
Some DHFL victims wrote a letter to the King of United Kingdom regarding the awarding of CBE to Mr. Ajay Piramal, the philanthropist of Piramal Foundation CSR. The said open letter addressed to the King of the United Kingdom urged the retraction of Ajay Piramal’s CBE (Commander of the Order of the British Empire) award. The authors of the letter accused Mr. Piramal of unethical business practices and possible corruption, particularly in connection with the present government in India. The letter calls for a review of the award, arguing that it tarnishes the honor associated with it. Thus, Piramal Foundation is viewed as an eyewash to hide Mr. Piramal’s alleged corrupt activities throughout his business career.
VIEW THE LETTER:
Mouthshut Link that No Longer Works:
https://www.mouthshut.com/review/piramal-foundation-review-llrqoounrnp
In fact, we also submitted a “Mouthpad Request” to include “Piramal Group” on the Mouthshut Platform. However, the request was not fulfilled by the concerned team.
Even so, we are pasting the one review that was supposed to be posted on the said page by Rupa Bandyopadhyay:
PIRAMAL GROUP
Piramal Group: A Deceiver in Disguise (RB)
It is reported that:
1. Mr. Ajay Piramal is an alleged insider trader as found by SEBI in the Abbott Laboratories case.
2. Mr. Ajay Piramal was involved in the Flashnet Scam in collusion with BJP Union Minister Piyush Goyal.
3. Mr. Ajay Piramal is an alleged environmental terrorist (in the negative connotation) for polluting Digwal, Telangana.
4. Mr. Ajay Piramal is held responsible for the financial abuse of thousands of Dewan Housing Finance Corporation Limited (DHFL) victims through an alleged adverse possession of the company. He committed contempt of court twice in this case by ignoring NCLT’s first verdict (19/05/2021) and skipping the points raised by the NCLAT second order (27/01/2022).
IV. What Awaits?
Dear Mouthshut.com, Mr. Ajay Piramal, Bharatiya Janata Party (BJP) and other cronies,
Before raising the question of Freedom of Speech and Expression [Article 19(1) (a) of the Indian Constitution], we are remembering a particular scene from Modern Times directed by Charles Chaplin. When Chaplin was working in a mall as a nightguard, he faced some so-called “hooligans”, who broke into the mall. After some chaotic sequences as expected in black comedy, those hooligans said: “We’re not burglars. We’re just hungry.”
In the same way, if you ask us for our activities (and the motives behind our activities) against the RBI-appointed CoC for DHFL and Mr. Piramal’s alleged adverse possession of the DHFL, our answer will be one and the same. The DHFL victims are well aware of the manipulative behaviour of the concerned authorities like the RBI during the CIRP of the DHFL under the ill-conceived IBC as the latter cannot answer the RTIs regarding the expenditure for performing the resolution process. They are merely engaged in a rampant transfer game from one authority to another.
The DHFL victims’ only motive is to recover their hard-earned money from an ongoing concern, which was politically maneuvered and the three-time King Liar is now completely naked. Dear Mouthshut, you may call our posts as attacks on paramavaisnava Ajay Piramal as well as his political gurus of the BJP, we may, as perceived by you, be called as a “gang” of defamers, but our only motive is to ensure distributive justice the financially abused DHFL victims, who are nothing more than innocent common citizens of the Indian republic—- we are not criminals!
Piramal’s legal firm DSK Legal constantly accused us for running a “systematic smear campaign” to gain “cheap publicity”. This claim is unfounded because we solely have the intention of emancipating the Indian economy from the hands of a chosen few business tycoons favoured by the incumbent religious extremist ruling party of India!
The counter-question is: what about the gang of four (Modi-Shah-Adani-Ambani), who are reigning plutocratically in India by perpetuating an exploitative framework of crony oligarchy?
Once in a Blue Moon Academia 
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