PF Chief calls for exempted trusts’ holding in IL&FS arm


PF Chief calls for exempted trusts’ holding in IL&FS arm

The Central Provident Fund Commissioner (CPFC) has stepped in to protect thousands of middle-class salaried people, who run the risk of losing crores invested in IL&FS group companies through standalone trustees. The apex retirement body has written to the trustees, asking them to disclose individual exposures along with securities details.

“CPFC has desired to know the exposure of exempted trusts in the securities of IL&FS,” it said, seeking details of investments purchase by those trusts. ET has viewed the content of the email.

“…the investments made by the exempted Trusts in such securities may not be able to earn desirable returns.” Read More

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