A woman walks past a signboard of Dewan Housing Finance Corporation Ltd. (DHFL) outside its office.Reuters

Abhinav Gupta, son of arrested Uttar Pradesh Power Corporation Limited (UPPCL) General Manager PK Gupta, was detained after he arrived at the office of Uttar Pradesh Police's economic offences wing (EOW) to record his statement in UPPCL employees provident fund scam case.

Abhinav was absconding since the past eight days when his father and another official were arrested. A five-member team had been set up to trace Abhinav. He has prima facie been accused of mediating with brokerage firms which secured the PF investment deal with DHFL, a private company.

Abhinav reportedly took a commission for investing the EPF money of UPPCL employees in DHFL, a private company and invested the same in his real estate business. He was interrogated through the night and has made some crucial revelations.

"Most of the brokerage firms mentioned in the documents recovered from the office in Shakti Bhawan have been found to be non-existent on ground. Abhinav's role is suspected in these dealings, hence he was served a notice," an EOW officer said. Some Delhi-based businessmen are said to be his partners in crime.

Assurance to employees

Meanwhile, the newly-appointed UPPCL chairman and principal secretary, Arvind Kumar, has assured the power corporation employees that they will get back all of their provident fund money invested in DHFL.

"The UPPCL is committed towards ensuring timely payments of PF related benefits due to the power sector employees. We are exploring all the possibilities to get back the money stuck in the Mumbai-based private housing finance firm," Kumar had told Hindustan Times. 


The UP power minister, Shrikant Sharma, had also earlier given assurance to the agitating employees. He said: "If the money is not recovered from DHFL, the Uttar Pradesh Power Corporation Ltd. will pay this money to the employees. This is one of the options on the table."

"The power employees are part of my family and the government will ensure they get their money back. The government had no say in the investment decision but has taken the onus to ensure interest of the employees is not harmed at any cost," he added. 

(With agency inputs.)