UP provident fund scam: PF trusts bent rules to invest Rs 4,122 cr in DHFL

99% of corpus of UP power employees' PF trusts invested in DHFL, PNB Housing, and LIC Housing

The arrest of five people, including three serving and retired Uttar Pradesh Power Corporation (UPPCL) officials, in connection with alleged irregularities in parking the state electricity body’s employee provident fund (PF) notwithstanding, the saga is only getting murkier by the day.

While investments by the UP State Sector Employees Power Employees’ Trust and the Provident Fund Trust in Dewan Housing Finance Corporation (DHFL) are worth Rs 4,122 crore, part of that money — Rs 1,855 crore — was repaid, leaving Rs 2,267 crore to be recovered.

While the alleged unauthorised investments were made in instalments from March 2017 till now, unsecured term