Posted on 17/12/2023 (GMT 17:35 hrs)
To
Mr. Howard Marks,
The Honourable Co-Chairman,
Oaktree Capital
333 South Grand Ave., 28th Floor Los Angeles, CA 90071
To Mr. Bruce Karsh,
The Honourable Co-Chairman and Chief Investment Officer, Oaktree Capital 333 South Grand Ave., 28th Floor Los Angeles, CA 90071
Sub: Requesting Oaktree Capital for a) Filing a Case against Opaque Resolution Process of DHFL and b) Revealing the Inconsistencies of the DHFL Bidding War
Dear Sirs,
We, the Dewan Housing Finance Corporation Limited (DHFL) victims, are submitting to you this letter for legal action to be taken against the DHFL bidding process. In continuation with our letter dated 15.12.2020, having the subject “Releasing of all Fixed Deposits (FDs) stuck at DHFL on humanitarian grounds“, we are again appealing to you to reveal the transparently opaque Resolution Process (RP) led by the Reserve Bank of India (RBI)-appointed Committee of Creditors (CoC) for DHFL. As evident from your press statements, you rightly smelled the rat in the DHFL RP by sensing some kind of predetermined, favouritist foul play in favour of the Piramal Group from the very beginning.
DHFL bids: Oaktree mulls legal action ‘seeing’ creditors’ ‘bias’ towards Piramal’s offer VIEW HERE ⤡ (As reported on 6th December, 2021 ©Businessline)
We, according to the available reports on the public domain, also attempted to point at the supposed “illegal” zones in the said process, which can be found in the following documents:
i) SMELLING THE RAT IN THE DHFL-COC RESOLUTION PROCESS: A LETTER TO THE PRESIDENT OF INDIA VIEW HERE⤡
Similarly to you, our repeated emails have also remained unanswered on the part of Mr. Ajay Piramal, the CoC and its various associates!
Moreover, it is to be noted that Mr. Ajay Piramal himself is an obsessive-compulsive⤡ “blanket” stay order seeker. He wanted a blanket stay order not only against the NCLAT order (27.01.2022) but also previously during the National Green Tribunal case in relation to the Digwal, Telangana affair.
He also is in the habit of filing defamation cases against any individual, company or organization, if things do not go his way. He wanted to do so (or reached the closest in doing so):
1. In the case of The Wire, when it attempted to reveal the crony deal of Mr. Piramal with Union Minister Mr. Piyush Goyal in the Flashnet Scam⤡.
2. Purportedly against your company itself, when one of the spokespersons of the Piramal Group stated that the allegations made by Oaktree with reference to the RP are “mischievous, misleading and malicious.” (Ref. the Businessline report cited above)
3. Against some of the DHFL victims, who initiated a web-based, non-violent civil disobedience movement against Mr. Piramal and the RBI-appointed DHFL-CoC.
View the following hyperlinks to know more about Mr. Ajay Piramal’s past deeds as a whole:
THE PSYCHOANALYSIS OF A CRONY BILLIONAIRE:AJAY PIRAMAL VIEW HERE ⤡
REVEALING THE CONTROVERSIES ABOUT THE PIRAMAL GROUP: ADDITIONS ON WIKIPEDIA VIEW HERE ⤡
WHY IS MR. AJAY PIRAMAL HIDING HIMSELF FROM THE SOCIALIZATION PROCESS? VIEW HERE ⤡
GREETINGS TO MR. AJAY PIRAMAL: THE “SUCCESSFUL OWNER” (?) OF THE DHFL AKA PCHFL AKA PIRAMAL FINANCE VIEW HERE ⤡ (SARCASM INTENDED UNDER PLUTOCRACY)
IF A[M]DANI SCAMS, CAN AMBANI-PIRAMAL BE FAR BEHIND? VIEW HERE ⤡
SOME OPEN, CONTROVERSIAL QUESTIONS TO MR. AJAY PIRAMAL REGARDING THE DHFL ACQUISITION VIEW HERE ⤡
THE OLD SINNER? THE DEEDS OF A PARAMAVAISNAVA, AJAY PIRAMAL VIEW HERE ⤡
As found in the report cited above, your company had previously stated the following:
“Oaktree had recently written to the CoC, expressing concerns about the transparency of the resolution process. It had also provided details of its bid, underlining that its evaluation on incorrect information could be subject to judicial, administrative and investigative review.”
This is the stand that we are maintaining till now as well, in so far as Mr. Piramal’s “ownership” claims of the DHFL seem to be a case of adverse, hostile possession, by trespassing the judicial gatekeepers while the entire issue is still sub judice or under adjudication. This lack of transparency and legality in the RP was well pointed out by the NCLAT in its order dated 27.01.2022, in response to 63 Moons Technologies’ plea against Piramal’s ridiculous “buying” of DHFL’s assets worth 45k Cr for just 1 rupee! This is to humbly ask you, by means of the present letter, to kindly redress your previous concerns against Piramal and the CoC since lakhs of DHFL victims (FD and NCD holders) are suffering gravely due to this manufactured, predetermined CoC’s CIRP, so that the DHFL scam victims will be benefited in the long run. We know very well the reasons behind your deliberate withdrawal from the Indian crony market, which is irrational and
chaotic as well. It is a matter of shame for us, the supposed “citizens”⤡ of India, to view the poor ranking of “partly free” India⤡across different indexes.
To summarize: we are placing before you our two demands to your kind selves:
a) Please file a case against the whole Resolution Process in the Singapore International Arbitration Centre. (we have also requested the ex-promoters of the DHFL, viz., the Wadhawan brothers, to do the same⤡)
b) Kindly reveal the inconsistencies (found first-hand by your company) in the whole bidding process of the DHFL for the greater benefit of the DHFL Scam Victims.
We strongly hope that you will entertain our pleas.
Thanking you in anticipation,
Best Regards,
Dr. Debaprasad Bandyopadhyay
Mrs. Rupa Bandyopadhyay
Mr. Akhar Bandyopadhyay
OUR PREVIOUS LETTER TO OAKTREE CAPITAL DATED 15.12.2020 IS GIVEN AS FOLLOWS:
To
Mr. Howard Marks, Co-Chairman Mr. Bruce Karsh, Co-Chairman and Chief Investment Officer, Oaktree Capital 333 South Grand Ave., 28th Floor Los Angeles, CA 90071
Sub: Releasing of all Fixed Deposits (FDs) stuck at DHFL on humanitarian grounds
Dear Sirs,
Hope you and your family members are safe and healthy. We are writing this letter to you out of our utter despair, agony, anguish, and anxiety regarding our FD monies stuck at DHFL.
We have also approached the Honourable President of India (please find at the end of this mail the two URLs to our open letter to the President of India), appealing for the release of all our FDs stuck at DHFL due to the ongoing resolution process.
As many of us are pensioners, senior citizens, and persons with medical emergencies as well as ordinary citizens, it is very difficult for us to survive without our savings.
Therefore, we earnestly request you to relieve us from such “capital” punishment and repay all our lifetime of hard-earned savings in full by making provision over and above the resolution plan to make good the shortfall.
We believe this will put an end to ongoing litigation from FD holders’ side.
In addition, it will spread positive news across the investors and more people will be attracted to invest even more in DHFL FDs.
Please consider our case on an emergency basis, or many of us will be no more due to the burden of such frustrating uncertainties.
We wish you and your family members a prosperous future in the days to come.
Yours Faithfully,
Dr. Debaprasad Bandyopadhyay
A) Our mass petition to all the bidders of DHFL:
B) Our mass petitions to the Hon’ble President of India: 1. https://www.gopetition.com/petitions/an-urgent-appeal-to-the-president-of-india-fixed-deposit-holders-of-dhfl.html
SEE ALSO:
THE NARRATIVE(S) OF DHFL “BETTING”, SORRY BIDDING!
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