Tag Archives: dhflfdholders

None Kept One’s Words: Modiji’s Promises

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.

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.

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”

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?”

You’re all caught up: RBI-appointed CoC for DHFL

The blog post addresses several key points related to the DHFL resolution process:

Criticism of RBI and CoC: Questions why irregularities pointed out by NCLAT were ignored and criticizes the exclusion of DHFL’s directors from CoC meetings.
Allegations of Bias: Accuses CoC and administrators of bias towards Piramal Group and ignoring better repayment offers from old promoters.
Demand for Accountability: Calls for the return of fees by administrators and criticizes the role of government officials in the process.
Political Implications: Raises questions about the impact of demonetization and political donations on the DHFL case.
#Scrap_IBC,
#Seize_Cronies_Fairplay_for_DHFL_Victims,
#DHFL_Scam,
#Penalize_RSubramaniakumar_CharuDesai_from_DHFL_COC #Scrap_RBI_appointed_COC_for_DHFL,
#Resign_RBI_GOV_Shaktikanta,
#RBI_Appointed_CoC_for_DHFL_ReturnYourFees,
#alleged_dawood_mirchi_rkw_dhfl_bjp_collusion,
#Financial_Abuse_By_RBI_CoC_AjayPiramal,
#Flashnet_Scam,
#Down_With_Saffron_Fascism,
#art_of_resistance_against_autocracy

Pleading for the DHFL Victims’ assertion of agency- marginalization due to financial abuse: A Letter to the Hon’ble CJI Chandrachud

Posted on 11/11/2022 To Justice Dhananjaya Yeshwant Chandrachud, The Honourable Chief Justice of India Sub: Pleading for the DHFL Victims’ assertion of agency: marginalization due to financial abuse Dear Sir,  First of all, on the auspicious occasion of your birthday, let every moment of your life be a new birth (mahasthavira jataka). In the midst of catastrophic anthropogenic glocalContinue reading “Pleading for the DHFL Victims’ assertion of agency- marginalization due to financial abuse: A Letter to the Hon’ble CJI Chandrachud”

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

This article, framed as an open letter to Ajay Piramal, critically examines the shifting corporate identities within the Piramal Group, particularly in the aftermath of the DHFL acquisition. It foregrounds the confusion and opacity generated by the interchangeable and inconsistent use of company names—such as Piramal CHF, Piramal Finance, and related entities—raising questions about regulatory compliance, corporate transparency, and accountability.

Deploying the metaphor of the “schizophrenic self,” the article interprets these shifting identities as symptomatic of a deeper structural and ideological contradiction within contemporary capitalism. Drawing on the theoretical insights of Deleuze and Guattari, it argues that capitalism simultaneously destabilizes and reorganizes identities, producing a fluid yet controlled multiplicity that obscures responsibility while enabling accumulation.

The letter further situates these corporate practices within the lived experiences of DHFL depositors, highlighting the ethical dissonance between professed corporate values—such as philanthropy, religious adherence, and social responsibility—and the material consequences faced by affected stakeholders. By juxtaposing moral rhetoric with alleged financial and legal ambiguities, the article advances a critique of crony capitalism, where legal, institutional, and symbolic mechanisms converge to produce opacity, impunity, and public disorientation.

Ultimately, the piece argues that the instability of corporate identity is not merely administrative but ideological, functioning as a strategic device that fragments accountability and normalizes systemic inequities within India’s financial and corporate governance landscape.

Requesting for Returning the Fees from the Administrator and Representatives of the RBI-appointed CoC for DHFL

The post requests the return of fees charged by the RBI-appointed DHFL Committee of Creditors (CoC) administrators, Mr. R Subramaniakumar and Ms. Charu Sandeep Desai. The author argues that their conduct in handling DHFL’s resolution process was deemed unlawful by the NCLAT verdict on January 27, 2022, and thus they should not be entitled to their fees. The post also highlights the financial and mental distress caused to DHFL stakeholders by the administrators’ actions.

WHO IS AJAY PIRAMAL?

DISCLAIMER: The allegations and claims outlined in this article are subject to ongoing judicial review and investigation, with many issues remaining sub judice. Readers should refrain from forming definitive conclusions due to the absence of conclusive evidence. OBMA has always mindfully used cautious and legally accurate language, employing terms such as “alleged,” “reported,” “possible,” and “supposed”Continue reading “WHO IS AJAY PIRAMAL?”