Will return every penny of power employees’ PF: DHFL chairman

Amid the controversy over the alleged unauthorised investment of employees’ provident fund corpus of Uttar Pradesh Power Corporation Limited in Dewan Housing Finance Corporation (DHFL), the company chairman asserted that it would return every penny of the power employees’ provident fund.

The DHFL said it had already made provisions in cash flows for payment of fixed deposits maturing in December 2019. However, the DHFL underlined that the Bombay High Court had passed an order restraining the company from making payments to any of its secured/unsecured creditors, including fixed deposits.

The DHFL, being probed by the Enforcement Directorate (ED) for alleged money laundering, said it was trying to work out a resolution in the interest of all stakeholders.