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THE CHOSEN ONES IN INDIAN POLITICAL ECONOMY: A CASE STUDY OF THE DHFL SCAM

Posted on 20/08/2023 (GMT 05:50 hrs)

ABSTRACT

To understand the present state of affairs in Indian polity with regard to financial crises, the paper would present a case-study on the Dewan Housing Finance Corporation Limited (DHFL) scam, which is now occupied through adverse possession by one of the ruling party’s close associates, viz., Mr. Ajay Gopikisan Piramal. For this acquisition of the DHFL, many unfair means were taken. Due to this forceful occupation by Piramal of the DHFL, many fixed deposit (FD) and non-convertible debenture (NCD) holders suffered a huge loss of their life-savings. To resist such a scenario, some of the DHFL victims initiated a non-violent web-based civil-disobedience movement. After two years of such resistance, Piramal employed his legal team to suppress or silence the voices of those protesting victims of a different form of “capital” punishment. This paper relates to the defamation case filed by Piramal to target some of the social media platforms utilized by the victims of financial abuse.

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