Ranchi, Oct. 15 -- The Jharkhand High Court has directed the Central Bureau of Investigation (CBI) to register an FIR and investigate the loss of Rs 727.67 crore suffered by the Coal Mines Provident Fund Organisation (CMPFO) following its investment in Dewan Housing Finance Corporation Limited (DHFL).
A Division Bench comprising Chief Justice M.S. Sonak and Justice Manoj Prasad issued the direction while hearing a public interest litigation concerning the investment of CMPFO funds in DHFL.
The court noted that CMPFO had invested around Rs 1,300 crore in DHFL despite warnings from financial experts to withdraw the investment to avoid substantial losses. The investment was not withdrawn, resulting in a loss of approximately Rs 727.67 crore....