Mon, 20 Jan 2020

Seven more arrested in UP EPF scam

ANI
07 Dec 2019, 03:37 GMT+10

Lucknow (Uttar Pradesh) [India], Dec 6 (ANI): Seven more people have been arrested in connection with the investment of over Rs 2,600 crore of Uttar Pradesh power employees' provident fund in scam-hit housing finance firm DHFL.

The Economic Offence Wing of UP Police on Friday arrested Amit Prakash who was Lucknow branch of DHFL when the crime was committed.

Manoj Kumar Agrawal, Vikash Chawla, Sanjay Kumar, Chartered Accountant Shyam Agrawal, Arun Jain and Pankaj Giri have been arrested for receiving or alleged helping to receive brokerage from DHFL through shell companies, according to a press release.

So far, at least nine people including former UP Power Corporation Ltd MD AP Mishra have been arrested in connection with the case.

Mishra was arrested and his residence was raided last month.

According to available records, Rs 2,631.20 crore of employees' General Provident Fund was invested in DHFL out of which Rs 1185.5 crore has been returned by the finance company.

A total of Rs 1491.50 crore of Contributory Provident Fund was invested in the company out of which Rs 669.30 crore has been received by the trust and DHFL is allegedly yet to return Rs 2267.9 crore (principal amount) of GPF and CPF to the trust. (ANI)

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