CBI generates Rs. Took the PF scam into his own hands

(PTI) New Delhi, Ta. March 6, 2020, Friday

The CBI has taken over the investigation of the Employees Provident Fund scam worth Rs 2267 crore in Uttar Pradesh. In this scam, the money saved from the power sector workers was withheld in the scandalous Dewan Housing Finance Corporation (DHFL).

According to officials, the CBI has re-registered the FIR filed by Uttar Pradesh Police at Hazratganj Police Station.

Former UP State Power Sector Employees Trust secretary Praveen Kumar Gupta, former finance director of Uttar Pradesh Power Corporation Limited (UPPCL), has been indicted for cheating, betrayal. Police arrested both in November last year.

UPPCL Employees' Provident Fund funds were withheld until October 2016 in the nationalized bank's FD. Following the recommendation of Gupta and former managing director of UPPCL AP Mishra, the employees' PF money was withheld in PNB Housing Finance from December 2016.

A total of Rs 4122 crore was invested in DHFL. Out of which, 2267 crore rupees have not yet been returned. During March 2017 to December 2018, 50% of the employee's PF amount was withheld in DHFL by violating the central government guidelines.