This article critically examines the Insolvency and Bankruptcy Code (IBC), 2016, arguing that it has evolved into a structurally predatory regime enabling the systematic transfer of public, depositor, and taxpayer-backed wealth to politically connected private entities. Through the lens of the DHFL resolution, it analyzes key judicial rulings—including the Delhi High Court’s holding that Insolvency Professionals are not “public servants” under the Prevention of Corruption Act, 1988, and the Supreme Court’s 2025 affirmation of the Piramal plan—revealing chronic delays, 67–68% average haircuts, fraud laundering via Section 32A, and unchecked Committee of Creditors (CoC) dominance. Situating DHFL within India’s declining Corruption Perceptions Index (96th/180, score 38/100 in 2024), the study highlights premature occupation by Ajay Piramal, enabled by his secondary kinship to Mukesh Ambani and BJP-linked patronage. It concludes that incremental amendments are insufficient and advocates complete repeal in favour of a transparent, constitutionally compliant framework prioritizing public interest, restitution, and accountability under Articles 14 and 21.
Category Archives: Journal
CONVERGENCE TO PRAXIS
This journal tries to demolish the administrative boundaries of academic disciplinary technology by amalgamating all the so-called “subjects” by condemning the objectification, subjectification and subjection.
It strives to reach the vanishing point of theory and praxis. Thus, instead of so-called “inter-disciplinary studies”, it emphasizes on the convergence of earthian knowledges and praxiologies. The journal attempts to achieve this end by means of dialogue without manipulation in the context of a participatory, local-resource based, low-energy efficient, small-scale, self-reliant, partyless, moneyless, decentralized democracy. As this journal is against the academiocratic elitism and patron-client relationship, it maintains the Copyleft Writers’ Movement and follows the Creative Commons License.
অঘোষিত জরুরি অবস্থার (দুঃ-)সময়ে না-রাষ্ট্রের বি-কল্প-না (Imagining No-State Alternities Amidst the Horrors of Undeclared Emergency)
এখানে সময়ের প্রয়োজনে, না-রাষ্ট্রের আশায়, অঘোষিত জরুরি অবস্থার মধ্যে দুটো লেখা সংকলিত করা হলো। বলা বাহুল্য, দুটো লেখাই বর্তমান ভারতবর্ষের রাজনৈতিক পরিস্থিতি আর দুরাশা নিয়ে সুরাশা করা হয়েছে। ভাজপার আইটি সেল মিথ্যে প্রোপাগাণ্ডা করে। উৎপল দত্ত উল্টে বলতেন, “আমি প্রোপাগান্ডিস্ট”। আমরা তাঁকে অনুসরণ করেই আরেকটু বাড়িয়ে বলছিঃ আমরা কাউন্টার-প্রোপাগান্ডিস্ট। ধরে নিন এই গোটাটাই একখানা রাজনৈতিক ইস্তেহারমাত্র, যেখানে ভেন্ন ধাঁচের আকাদেমিয়া সেঁধিয়ে আছে।Here, compelled by the urgency of the moment and sustained by the hope of a no-state imagination, two pieces have been brought together amid an undeclared emergency. Needless to say, both writings engage with the present political condition of India and attempt to wrest hope out of despair. The BJP’s IT cell manufactures false propaganda. Utpal Dutt, by contrast, would turn the charge on its head and declare, “I am a propagandist.” Following his lead—and pushing it a step further—we say: we are counter-propagandists. Consider this entire exercise as nothing more (and nothing less) than a political manifesto, into which a distinctly non-mainstream strand of academia has quietly seeped in.
OBMA Statement on Neo-Imperialist Violence: Iran, Venezuela, Palestine
This statement asserts OBMA’s condemnation of neo-imperialist violence in Iran, Venezuela, and occupied Palestine, framing these crises as interconnected expressions of cannibalistic capitalism. It exposes how state repression, militarization, sanctions, and fossil-fuel geopolitics enable genocide, ecocide, and resource plunder. Rejecting technocratic and reformist fixes, OBMA affirms planetary justice, anti-imperialist solidarity, and life-centred transformation through collective struggle and ecological ethics.
“Islamic Terrorism” as a Discursive Formation: Power, Paradox, and the Politics of Naming
This article critically examines the persistence of the term “Islamic terrorism” in global discourse, highlighting its paradoxical nature as a contested label that essentializes Islam as inherently violent in a monolithic manner while being reinforced by the explicit religious self-framing of militant groups like ISIS and Al-Qaeda. Drawing on Orientalist epistemologies, post-Cold War geopolitical imaginaries such as Huntington’s “Clash of Civilizations,” and Barthesian myth theory, the analysis reveals how the term functions as a disciplinary tool of power, asymmetrically applied to Muslim-perpetrated violence compared to similar acts by Christian, Hindu, Zionist or other extremists/fundamentalists/terrorists, thereby naturalizing civilizational hierarchies and obscuring historical contexts like colonial legacies, proxy wars, and political economies of jihadism. Incorporating defenses of the term’s empirical utility alongside critiques of bias and oversimplification, the piece argues for a shift toward nuanced framings that recognize militant Islamism as a product of imperial disruption, authoritarianism, and gendered crises rather than religious essence, ultimately advocating for pluralist transformations to combat all forms of fundamentalist violence without hypocrisy.
Who Pays, Who Bribes, Who Flees, Who Profits: BJP’s Swelling Coffers Amid Exploding External Debt
Posted on 6th January, 2026 (GMT 06:26 hrs) ABSTRACT India’s neoliberal delusion stands exposed in this searing critique: As the ruling Bharatiya Janata Party (BJP) amasses an astronomical financial empire—ballooning from modest pre-2014 assets to ₹7,113 crore in cash/bank balances and over ₹10,107 crore in election war chests by late 2025, propelled by ₹6,088 croreContinue reading “Who Pays, Who Bribes, Who Flees, Who Profits: BJP’s Swelling Coffers Amid Exploding External Debt”
End of Year Bombshell: How BJP-NDA-Hindutva Failed India – A Scathing 2014-2025 Indictment
As 2025 draws to a close, this comprehensive dossier documents not a series of discrete policy missteps, but a systemic transformation of governance in India (2014–2025): a shift from democratic accountability to political executive dominance; from evidence-based policymaking to manufactured narrative control; from social protection to structural precarity. Spanning the economy, federalism, data integrity, labour, the natural environment, digital freedoms, education, public health, cultural institutions, civil liberties, and fundamental rights, the record reveals enduring patterns of power centralization, calibrated opacity, selective enforcement, and institutional hollowing—accompanied by crony consolidation and the routinized criminalization of dissent. Democratic indicators decline as surveillance infrastructures expand, grassroots welfare erodes, and truth itself is rendered an object of administrative management. This is not a partisan ledger, but a counter-archive: an evidence-grounded indictment that affirms accountability as the necessary cost of power. In closing the year, it calls for a civic reckoning—not to foreclose debate, but to reclaim and restore it.
Of Debt and Delusion: India’s $747 Billion Burden and the Mirage of Neoliberal GDP Fetishism
This article critically examines India’s external debt surge to approximately USD 747 billion by mid-2025—a near-doubling since 2014—as a hallmark of crony capitalism under the Modi regime, where liberalized external commercial borrowings (ECBs) and public sector bank hollowing facilitate upward redistribution, oligarchic consolidation (favoring conglomerates like Adani and Ambani), and asymmetric risk socialization amid volatile private dominance (over 77% non-government), USD-heavy exposure (54%), and intergenerational burdens. Intersecting with GDP misreporting flaws (IMF C-grade accounts, unorganized sector proxies inflating growth) and colonial-era inequality peaks (top 1% holding 40% wealth), this financialized precarity—diagnosed via Toussaint’s World Bank “never-ending coup” and Lazzarato’s “indebted man”—enforces neoliberal discipline, commodifies survival, and erodes sovereignty despite orthodox “sustainability” metrics. Countering GDP fetishism’s ontological violence, it invokes Mahabharata’s aṛṇī ethics of non-indebtedness alongside nisargaṛṇa stewardship, proposing pluriversal alternatives like Felber’s Common Good Balance Sheet (non-commensurable axes of dignity, solidarity, ecology), A. K. Dasgupta’s Economics of Austerity, Raworth’s Doughnut Economics, Norberg-Hodge’s localization, degrowth/post-growth sufficiency, and gift/moneyless economies to reclaim community sovereignty from predatory entanglement toward justice, reciprocity, and unburdened flourishing.
Letters of Blood and Fire: “Terrorism”, Dispossession, and the Distorted Mirrorings of Domination
This article critically dissects “terrorism” as a politically contested and asymmetrically applied category, wielded to delegitimize subaltern and non-state violence while normalizing far greater state and corporate terror through legal, discursive, and institutional mechanisms. Drawing on an anarchist methodological lens amid India’s contemporary Islamophobic conjuncture, it provisionally defines terrorism as deliberate civilian-targeted violence intended to induce widespread fear for political, ideological, or social ends, exposing how state practices—from aerial bombings to militarized dispossession—evade the label via sovereign privilege. Integrating Marx’s primitive accumulation, Harvey’s views on accumulation by dispossession, and Toussaint’s analysis of debt-driven imperialism, the analysis frames terrorism as a systemic instrument embedded in neoliberal resource extraction, where conflict in mineral-rich zones (Afghanistan’s lithium, India’s Adivasi belts, Congo’s coltan) functions as both symptom and enabler of corporate plunder, preempted by advanced technologies like remote sensing and veiled by selective narratives that hyper-amplify “Islamic terrorism” while muting Hindutva extremism, Zionist settler violence, and BJP’s hypocritical Taliban engagement amid alleged terror-funding ties. Employing Sāṃkhya’s anyonyapratibimba to reveal power’s projection of its own predation onto the “other,” and balancing economic determinism with religion’s irreducible psychological role in motivating warriors, the piece ultimately reframes terrorism not as pathological or civilizational but as an intrinsic modality of unequal global orders, calling for discriminative clarity (viveka) to dismantle its intertwined logics of capital, technology, ideology, and domination.
Agnihotri’s “The Kashmir Files” and “The Bengal Files” in Violation of the Nāṭyaśāstra: An Open Sanātanī Hindu Indictment
From the heart of Akhaṇḍ Hindutva, a Sanātanī Hindu United Family (HUF) indicts Vivek Agnihotri’s The Kashmir Files and The Bengal Files for brazenly violating Bharata Muni’s sacred Nāṭyaśāstra—turning Hindu grief into voyeuristic gore, rape imagery, and blood-spectacle. What claims to defend Sanātana Dharma abandons rasa, maryādā, and ahiṁsā, replacing ethical restraint with tāmasika exhibitionism and propaganda rage. True Hindutva demands dharma, not degeneration.
The Digital Leviathan: Inside the BJP IT Cell’s Architecture of Consent, Coercion, and Control
In December 2025, India’s digital political landscape is dominated by the Bharatiya Janata Party’s (BJP) highly professionalized IT Cell, currently led by Amit Malviya, which functions as a vast, hierarchical apparatus blending centralized strategy, AI-driven tools, paid operatives, and massive volunteer networks to orchestrate continuous propaganda, narrative control, and disinformation campaigns across platforms like WhatsApp, X, YouTube, and Facebook. Widely criticized for systematically disseminating misinformation, deepfakes, clipped videos, communal hate speech (particularly anti-Muslim), and coordinated trolling that incites offline violence and vigilantism—while rarely retracting debunked claims—the IT Cell is accused of manufacturing consent, suppressing dissent through intimidation and surveillance-linked tools, and diverting public attention from economic precarity, unemployment, and governance failures via spectacle-driven “statue-temple nationalism” and pseudoscientific Hindutva myths. Operating symbiotically with “Godi media” owned by aligned corporates (Adani, Ambani), fueled by opaque funding and asymmetric ad spends, and enabled by regulatory gaps in AI oversight, data protection exemptions, and platform passivity, this “digital Leviathan” erodes epistemic trust, polarizes society, chills free expression, and contributes to democratic backsliding, even as independent fact-checkers (e.g., Alt News), civil society, and media literacy initiatives offer resilient counter-efforts against the routinization of information warfare in India’s platform-mediated public sphere.
Once in a Blue Moon Academia 