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DHFL scam: ED probing money laundering of Rs 4,122 crore EPF corpus

While Rs 4,122 cr was parked with DHFL between March 2017 and Dec 2018, some Rs 2,267 crore is outstanding with the firm, which has been barred by Bombay HC from making fresh repayments

DHFL
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The funds were invested in installments through 28 brokerage or bogus firms in connivance with the officials managing the two UPPCL PF trusts.

Virendra Singh Rawat Lucknow
The Enforcement Directorate (ED) has begun probing the alleged money laundering of the investments of Uttar Pradesh Power Corporation Limited (UPPCL) employees’ provident fund (PF), parked with mortgage lender Dewan Housing Finance Corporation Limited (DHFL). The total value of the corpus was Rs 4,122 crore.

While the economic offenses wing (EOW) of the Uttar Pradesh Police is probing the alleged criminal conspiracy and unauthorised investment of the PF corpus in DHFL, the ED will probe the possibility that the money was laundered and the network used to funnel it.

According to sources, the ED has registered a money laundering case in this

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First Published: Dec 27 2019 | 4:24 PM IST

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