Former MD of UPPCL held in EPF fraud case

LUCKNOW: The Uttar Pradesh Police’s Economic Offence Wing (EOW) on Tuesday arrested the former managing director of Uttar Pradesh Power Corporation Limited (UPPCL), AP Mishra, in connection with the investment of over ~2,200 crore of the state power employees’ provident fund in the scam-hit DHFL.

Director General (DG) of EOW Rajendra Pal Singh said the former managing director was taken into custody from his Lucknow residence at 4.30 am on Tuesday. His arrest came days after the state government recommended a Central Bureau of Investigation (CBI) probe into the matter and Uttar Pradesh chief minister Yogi Adityanath directed the EOW to investigate the case till the CBI took over the matter. An official spokesman said Mishra, who was close to former chief minister Akhilesh Yadav, was “sacked” from his post on March 24, 2017, after the Yogi Adityanath government came to power, according to Press Trust of India.

Reacting to the allegations, Samajwadi Party president Akhilesh Yadav held CM Adityanath responsible for the transfer of the employees’ provident fund to scam-hit Dewan Housing Finance Corporation Limited (DHFL) and demanded his resignation. “Adityanath should step down. The CM is so weak that he cannot even ask state power minister Shrikant Sharma to resign,” Yadav said.

DG Singh said Mishra allegedly altered in a noting the date of an UPPCL board meeting held on March 22, 2017, that discussed the investment of power employees’ provident fund contribution in the Mumbai-based housing finance firm Dewan Housing Finance Corporation Limited (DHFL).

Singh said it was very surprising that Mishra forwarded his resignation to the authorities on March 16, 2017, just five days after the formation of BJP government in the state.