Mumbai: The Mumbai-based All India UTI-AMC Officers’ Association (AIUTI-AMCOA) and the external but influential Chennai-based All India Bank Officers Association (AIBOA) have raised a demand on the need for UTI-AMC to invest its investors’ hard-earned money in scam-tainted DHFL.
The AIUTI-AMCOA and AIBOA have shot off separate letters to various entities while a top leader has sought Central government’s directions to the Central Bureau of Investigation (CBI), Enforcement Directorate (ED) and Income Tax (IT) Department to probe the matter thoroughly as it involved “huge public funds”.
AIUTI-AMCOA Chairman Vishwas Utagi and General Secretary Pawan K Abrol have written to the Joint Secretary, Department of Investment & Public Asset Management (DIPAM), Ministry of Finance and the SEBI Chairman on the losses allegedly suffered by the UTI treasury advantage fund in the DHFL imbroglio.
Talking to Bizz Buzz, Utagi, says, “Why should UTI AMC invest in the scam-tainted firm DHFL at a time when all other investors have withdrawn from it?”
It means that there was no subsequent investment/s by UTI-AMC, particularly after September 2018 when DSP Mutual Fund sold off their exposure to the Wadhawan brothers’ DHFL securities.
However, ex-officials of UTI-MF-who were privy to sensitive information-later revealed that the UTI-AMC was quietly investing in the DHFL Securities to bail out redemption of earlier securities, even after the scam tumbled out and leading to the arrest of the…
