UPPCL suspends trust secretary for investing EPF money in ‘unsecured firm’

The UP Power Corporation Ltd (UPPCL) has suspended its UP State Power Sector Employees Trust secretary Praveen Kumar Gupta, who is also the Agra discom general manager

The UP Power Corporation Ltd (UPPCL) has suspended its UP State Power Sector Employees Trust secretary Praveen Kumar Gupta, who is also the Agra discom general manager (accounts and audit), for his alleged role in investing the employees’ provident fund in an unsecured private firm.

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UPPCL managing director Apara U issued a circular in this regard on Saturday, attaching him with the Agra discom managing director’s office, pending an inquiry into the matter.

The circular says Gupta, as the company secretary, had played a role in investing the UP State Power Sector Employees Trust’s money in the Diwan Finance Corporation Ltd, which is an unsecured firm. The Mumbai high court had banned the company from making any payments till October 10, 2019.

“Gupta, as the secretary of the trust, is responsible for committing irregularities in this regard,” the notification said.