Akhilesh "opened gate of corruption" by okaying UPPCL EPF's investment in DHFL: UP govt


PTI | Lucknow | Updated: 03-11-2019 17:00 IST | Created: 03-11-2019 16:49 IST
Akhilesh "opened gate of corruption" by okaying UPPCL EPF's investment in DHFL: UP govt
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A day after recommending a CBI probe into the investment of over Rs 2,600 crore of the UP power corporation employees' provident fund in scam-hit housing finance firm DHFL, the Uttar Pradesh government on Tuesday accused the previous Akhilesh Yadav regime of "opening gate of corruption" by the decision. Facing opposition's attack over the investment of the part of the UPPCL's EPF in DHFL, the Uttar Pradesh government sought to set the records straight, asserting that the "dubious" decision was taken by Akhilesh Yadav government in April 2014 and the process of investment was further carried forward during 2016.

And the then secretary Praveen Kumar Gupta of the UP State Power Employees Trust and UPPCL's Provident Fund Trust, and UPPCL's erstwhile Director (Finance) Sudhanshu Dwivedi began the actual investment in DHFL from March 2017 even without bringing the matter to the knowledge of the UPPCL's managing director, said UP Energy Minister and state government's spokesperson Shrikant Sharma. The duo began investing UPPCL's employee's provident fund in DHFL despite a clearance to deposit the money for a fixed period in the Punjab national bank, he added.

Slamming Congress general secretary Priyanka Gandhi Vadra and Samajwadi Party chief Akhilesh Yadav for targeting the Yogi Adityanath government on the issue, Sharma said, "It's laughable that the parties, whose names are synonymous with corruption have levelled allegations against the government of a 'sanyasi' (Yogi Adityanath)." Detailing chronology of the investment decision, Sharma said, "During Akhilesh Yadav's regime on April 21, 2014, it was decided that if there are options of getting more interest, the amount of EPF and GPF can be invested there (DHFL)."

"By taking this decision, the gates of corruption were opened (during the Samajwadi Party regime)," asserted Sharma. "The process of investment was carried forward in 2016 and on December 17, 2016, the Trust's secretary (Gupta) and UPPCL's finance director (Dwiwdi) were authorized for this. After this, from March 2017, the process to the investment of the EPF money in DHFL began," he said.

After getting a complaint of the "dubious investment" on July 10, 2019, a committee was constituted within two days on July 12, 2019, the minister said, adding the committee report was submitted to the government on August 29 and on the basis of its recommendations, "our government has initiated strict action". Attacking the SP supremo, Sharma said, "He is trying to put our government in the dock alleging corruption, but he should reply why his government prepared the ground for corruption. Was not the entire matter going on Akhilesh's directions?"

The Energy Department portfolio was with Akhilesh at that time, he pointed out. The senior minister also lashed out at Congress general secretary Priyanka Gandhi for making allegations against the BJP government.

Priyanka Gandhi in a tweet had said earlier, "The BJP government in Uttar Pradesh invested the money from the provident fund of the state's power corporation personnel in a defaulting company like DHFL. Whose interest was to be served by investing more than Rs 2,000 crore of the employees' hard-earned money in such a company? Is it justified to play with the future of the employees?" Sharma hit back, saying, "She (Priyanka) too should tell the people why her husband grabbed the land of farmers in Bikaner and Haryana."

"The matter has been referred to the CBI and those involved will be dealt with strictly," the minister said, adding the government will also ensure the recovery of the money left with DHFL. He sought to assure the power corporation's employees that the government would take whatever steps needed to protect their interest.

Chief Minister Adityanath on Saturday recommended a CBI probe into the investment of over 2,600 crores of the state power corporation employees' provident fund money in scam-hit DHFL, Additional Chief Secretary (Home) Awanish Awasthi said. An FIR was registered at the Hazratganj police station in Lucknow against Praveen Kumar Gupta and Sudhanshu Dwivedi, he said.

Gupta and Dwivedi have already been arrested. Adityanath directed the director-general of the Economic Offences Wing (EOW) to investigate the case till the Central Bureau of Investigation (CBI) takes over the matter.

In 2016, on a proposal of Gupta, approval was given by Dwivedi and A P Mishra, the then UPPCL's managing director A P Mishra, that the GPF and CPF were invested in the PNB Housing, according to an official spokesperson. After this, Gupta and Dwivedi started investing the money in DHFL without bringing the matter even to the knowledge of the managing director, said a UP government statement on Saturday.

The DHFL promoters were also recently grilled by the Enforcement Directorate for their links with a front company of Iqbal Mirchi, a former aide of fugitive gangster Dawood Ibrahim. After the matter came to light, Adityanath immediately directed the Home Department and the state police chief to initiate stringent action against the duo.

All India Power Engineers Federation chairman Shailendra Dubey had earlier told reporters that only a CBI probe could find out the real culprits behind "this conspiracy to siphon off the hard-earned money of employees".

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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