The article critically examines the unfulfilled campaign promises of Indian Prime Minister Narendra Modi. It argues that Modi’s pledges, including creating 2 crore jobs annually, depositing 15 lakh rupees per citizen from recovered black money, doubling farmers’ income, and developing 100 smart cities, have largely failed to materialize, contributing to economic distress and social discontent. Drawing on statistical data and public sentiment, the author accuses the BJP government of relying on divisive Hindu nationalist rhetoric to distract from these failures. The article frames Modi’s leadership as a betrayal of public trust, employing a satirical tone to highlight the gap between grandiose promises and reality, and calls for accountability to address India’s pressing socio-economic challenges.
Category Archives: Activities
Our current activities concentrate on the case of Dewan Housing Finance Corporation Limited (DHFL), India. While exploring and investigating this particular case, we have found that India’s crony ruling party, gangsters, banksters as well as religious gurus and institutions are involved in the same. Therefore, to break such collusion, we have decided to deploy an “all out attack” on the existing paradigm of neoliberal market economy as well as market fundamentalism. ***DISCLAIMER: We have collected all the data from available sources on the internet as given on the official portals of media houses, websites and institutions and organizations. We are not first-hand reporters and hence, we are not liable for any inadvertent error or value-loaded statements made on those portals. All propositions have to be viewed as descriptive assertions on the given point of concern.***
IBC Section 66 Overlooked by the DHFL-CoC: A Big Conspiracy?
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 moreContinue reading “IBC Section 66 Overlooked by the DHFL-CoC: A Big Conspiracy?”
Attack and Counter-attack: a letter to PCHFL’s Legal Team
The article serves as another open letter directed at Piramal Capital and Housing Finance Limited’s (PCHFL) legal representatives, specifically DSK Legal. Written in a confrontational and sarcastic tone, it continues the authors’ defiance against PCHFL’s legal efforts to suppress their online criticism of the company’s acquisition of Dewan Housing Finance Corporation Limited (DHFL). The piece frames PCHFL’s legal notice as an “attack” on free speech and positions the authors’ response as a “counter-attack” in their ongoing “web-based non-violent civil disobedience movement” against alleged crony capitalism. They challenge the defamation claims, arguing that their public accusations—linking PCHFL and Ajay Piramal to misconduct—are grounded in a demand for accountability, not malice. The authors express eagerness for a legal battle, viewing it as a chance to escalate their dissent and expose what they see as corporate overreach, while dismissing the legal threats as an attempt to intimidate rather than address the substance of their critique.
THE GREAT NON-WILFUL ABSENTEES IN THE RBI-APPOINTED CoC FOR DHFL
The article from “Once in a Blue Moon Academia” discusses the controversies and challenges surrounding the RBI-appointed Committee of Creditors (CoC) in the Dewan Housing Finance Corporation Ltd. (DHFL) insolvency case, which is one of India’s largest financial scams. Here’s a more detailed summary:
Key Points of Contention:
Non-Inclusion of Major Creditors:
The article highlights the puzzling absence of significant financial institutions from the CoC. These institutions, despite having substantial exposure to DHFL, were not given a seat at the table. This omission raises concerns about whether the CoC was structured in a way that could have skewed the resolution process to favor certain parties over others.
Opaque Decision-Making:
The decision-making process within the CoC has been criticized for its lack of transparency. The article argues that this opacity might have allowed for resolutions that were not in the best interests of all stakeholders, particularly the smaller creditors and the general public who were indirectly affected by DHFL’s collapse.
Role of Ajay Piramal:
Ajay Piramal, a prominent businessman, and his role in the resolution process are scrutinized. The article suggests that there might be conflicts of interest, given his business interests and the influence he could wield over the outcome. It also discusses the legal battles and controversies surrounding his involvement, indicating that his participation might not have been entirely above board.
Legal and Ethical Implications:
The article raises questions about the legal and ethical dimensions of the entire process. It suggests that the way the CoC was formed and operated might have violated principles of fairness and transparency, which are critical in such high-stakes insolvency proceedings. The article implies that these issues could undermine public trust in financial institutions and the regulatory framework.
Broader Impact:
The discussion extends beyond just the DHFL case, touching on the potential long-term implications for India’s financial and regulatory systems. The author argues that if such practices are allowed to continue, they could set a dangerous precedent for future insolvency cases, where powerful interests could manipulate outcomes at the expense of smaller creditors and the public.
Overall, the article is a scathing critique of the CoC’s formation and operation in the DHFL case, calling for greater accountability and transparency in India’s financial regulatory processes. The author’s tone suggests a deep concern for the integrity of the financial system and the protection of public interest.
Pleasure of “The Trial”: a letter to PCHFL’s Legal Advocates
The article is framed as an open letter addressed to the legal advocates of Piramal Capital and Housing Finance Limited (PCHFL), specifically targeting DSK Legal, who issued a legal notice to the authors. Written in a satirical and defiant tone, it responds to PCHFL’s attempts to silence the authors’ online criticism regarding the company’s acquisition of Dewan Housing Finance Corporation Limited (DHFL). The authors mock the legal threats, expressing “pleasure” at the prospect of a trial, which they see as an opportunity to expose alleged misconduct by PCHFL and its chairman, Ajay Piramal, in court. They challenge the accusations of defamation, arguing that their dissent—part of a broader “web-based civil disobedience movement”—is a legitimate exercise of free speech against crony capitalism. The letter also critiques the legal notice’s claims of reputational and financial damage as exaggerated, suggesting that PCHFL’s actions reflect a fear of transparency rather than a genuine grievance.
Loud Voices Made the Deaf Hear: Piramal CHFL’s legal action against the cyber-dissenters
The article discusses Piramal Capital and Housing Finance Limited’s (PCHFL) legal actions against online critics, particularly in response to dissent over the Dewan Housing Finance Corporation Limited (DHFL) acquisition. It highlights how PCHFL, under Ajay Piramal’s leadership, issued legal notices to silence “cyber-dissenters” who accused the company of misconduct in the DHFL resolution process. The piece frames this as part of a broader “web-based non-violent civil disobedience movement” against crony capitalism in India, led by the authors who had previously added “Controversies” sections to Wikipedia pages about Ajay Piramal and his companies. These additions were removed, which the authors attribute to suppression efforts. The article also references a specific legal notice from DSK Legal, Piramal’s counsel, targeting the authors for alleged defamation, claiming their online content caused reputational and financial harm. The authors argue that such legal moves reflect an attempt to stifle free speech and dissent, drawing parallels to historical resistance against oppression.
Revealing the controversies about the Piramal Group: Additions on Wikipedia
Posted on 26/03/2023 (IST 22:15 hrs) Updated on 23rd November, 2025 (GMT 06:26 hrs) We have added a new section, “Controversies” on the Wikipedia pages of (a) Ajay Piramal, (b)Piramal Realty and (c)Piramal Capital and Housing Finance Limited. It is part of our web-based non-violent civil disobedience movement against the plutocratic, crony-capitalist regime in contemporaryContinue reading “Revealing the controversies about the Piramal Group: Additions on Wikipedia”
Topsy-Turvy Indian Governmentality: The Curious Case of the DHFL Scam
Posted on 12/03/2023 (IST 23:58 hrs) Updated on 18/03/2023 (IST 12:40 hrs) Here are some posters on the DHFL scam that throw light on its ambiguities, ambivalences, contradictions, irregularities, illegalities, void spaces and above all, the tale of politically motivated transformation of an ongoing, solvent, profitable company to an insolvent, bankrupt company. Though the formerContinue reading “Topsy-Turvy Indian Governmentality: The Curious Case of the DHFL Scam”
BJP’s Match fixing: helping Piramal CHFL to win the game at the cost of FD and NCD Holders of the DHFL: a letter to Mr. Tejashwi Prasad Yadav
Posted on 11/03/2023 To Mr. Tejashwi Prasad Yadav, The Honourable Deputy Chief Minister, The Government of Bihar And The Honourable Chairperson, Rashtriya Janata Dal (RJD) Sub: BJP’s Match fixing: helping Piramal CHFL to win the game at the cost of FD and NCD Holders of the DHFL Dear Mr. Yadav, At the onset, before goingContinue reading “BJP’s Match fixing: helping Piramal CHFL to win the game at the cost of FD and NCD Holders of the DHFL: a letter to Mr. Tejashwi Prasad Yadav”
If SARFAESI (2002) is there, why fluid IBC (2016) is applied to the DHFL?
Posted on 10/03/2023 (IST 01:46) Updated on 14/03/2023 (IST 00:55) When we first viewed the acronym “SARFAESI”, we mistook it as “Sarfaroshi”, i.e., revolution. We may have to take recourse to Freudian psychoanalysis in order to interpret our (mis-)perception. In association to this, We recall the song written by Bismil Azimabadi and immortalized by theContinue reading “If SARFAESI (2002) is there, why fluid IBC (2016) is applied to the DHFL?”
Once in a Blue Moon Academia 