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
Latest posts by The Economic Times (see all)
- Up 40% in 2019, hedge funds say there’s no stopping crude oil rally - April 21, 2019
- Incentivise plants for quick changes in thermal supply: Govt panel - April 20, 2019
- Lenders invoke IBC norms to keep stressed assets in NCLT - April 19, 2019