CBI to probe investment of UPPCL employee funds in scam-hit DHFL

The Uttar Pradesh government has recommended a Central Bureau of Investigation (CBI) inquiry into the investment of provident fund contributions of UP Power Corporation employees in the scam-hit Dewan Housing Finance Corporation Limited (DHFL).

The decision to hand over the case to the CBI was taken on Saturday evening.

Police have arrested two officials in the case. They have been identified as Praveen Kumar Gupta, former Secretary of the Power Sector Employees Trust, and Sudhanshu Dwivedi, former Director (Finance) of UP Power Corporation.

According to a letter by the Uttar Pradesh State Electricity Board Engineers Association (UPSEBEA), the decision to deposit funds from the general provident fund (GPF) and contributory provident fund (CPF) in DHFL was taken by the trustees of the UP State Power Sector Employees Trust on April 21, 2014.