Posted on 8th March, 2022
Updated on 20th July, 2023 (GMT 18:20 hrs)
TO WHOM IT MAY CONCERN
Sub: Requesting for Returning the Fees from the Administrator and Representatives of the RBI-appointed CoC for DHFL
Dear Sir/Madam,
This is to request you to kindly return the fees charged by Mr. R Subramaniakumar and Ms. Charu Sandeep Desai for (mis-)conducting the RBI-Appointed CoC for DHFL. Since the total process as executed by them is “contrary to law” (as per the Honourable NCLAT Verdict on 27/01/2022: Company Appeal (AT) (Insolvency) No. 677 and 800 of 2021), therefore, they do not have any moral or legitimate right to charge their fees (by putting additional financial burden on the ailing and distressed DHFL FD, NCD and Shareholders, especially during the pandemic) if they cannot justify their (mis-)deeds.
They must return their entire fees.
After the first verdict of the NCLT on 19/05/2021, the lenders of DHFL stated the following in their appeal against the said verdict:
SOURCE: Appeals Court Stays Order on Wadhawan VIEW HERE ⤡ (As reported on 26th May, 2021 ©The Mint)
The lenders said that the verdict of the NCLT would set a “bad precedent”, since the DHFL case was the first case to go under the experimental, ill-conceived IBC (2016). “Bad precedent”? Such statement made by lenders is not only irrational or illogical, it is also ridiculously idiotic!
Though NCLAT stayed the controversial NCLT order, the very same NCLAT, on 27/01/2022, found issues with the DHFL resolution process, as stated earlier. The following are certain instances from the NCLAT’s second verdict:
Moreover, they are also to be charged for infringing the business-related human rights and for committing mental harassment of thousands of innocent DHFL Victims, both of which are inexcusably “contrary to law”. See Also:
Mr. Ashok khemka, IAS, tweeted this issue in a precise manner, i.e., small is beautiful:
.@nsitharaman @PMOIndia In #DHFL resolution, NCD got 43.82%, Fixed Depositors 23.08% due on 3.12.2019 [Insolvency Commencement Date] after 665 days. But over 100-Crores for Advisors/Counsels. Approval by NCLT Mumbai mere rubber stamping. Resolution success? For whom? — Ashok Khemka (@AshokKhemka_IAS) October 6, 2021
#DHFL depositors get only 23.08% after two years. NHB will get 100% of its refinance money. Outrageous… NHB failed to regulate. NHB's refinance coaxed gullible depositors to invest hard earned savings into #DHFL. Is NHB not responsible for the #DHFL fraud? — Ashok Khemka (@AshokKhemka_IAS) October 5, 2021
Yours Sincerely,
Dr. Debaprasad Bandyopadhyay
Mrs. Rupa Bandyopadhyay
Mr. Akhar Bandyopadhyay
On Behalf of the Once In A Blue Moon Academia⤡
बहुजनहिताय बहुजनसुखाय च॥
(“For the happiness of the many, for the welfare of the many”)