The illegal investment of Uttar Pradesh power employees’ provident fund contribution in a Mumbai-based unsecured private housing finance company DHFCL, now a declared defaulter, appears to be a clear case of multi-level lapses resulting in continuance of the scam for two-and-a-half years, people associated with the state’s power sector alleged. HT Image Right from the employees and pensioners’ representatives, who …
The first investment that the UP Power Corporation Ltd made in the controversial, unsecured Deewan Housing Finance Corporation Ltd in gross violations of the central government’s guidelines was on March 17, 2017 — two days before Yogi Adityanath was sworn in as the state’s chief minister. In December, 2016 the UPPCL decided to invest the Power Sector Employees’ Trust money …
