States » EastPosted at: Oct 15 2026 7:19PM


Jharkhand HC directs CBI probe into Rs 727.67 crore CMPFO loss

Ranchi, Oct 15 (UNI) 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 The investment was not withdrawn, resulting in a loss of approximately Rs 727.67 crore.
The Bench questioned CMPFO officials for treating the matter as a commercial loss without a meaningful inquiry into possible criminal wrongdoing.
It also took exception to an affidavit giving a clean chit to former CMPFO Commissioner Animesh Bharti while departmental proceedings against him remained pending.
The court observed that a prima facie case existed to investigate possible offences, including criminal breach of trust and criminal conspiracy. It said an independent probe was necessary to ensure public confidence in the investigation and prevent the matter from being closed without proper scrutiny.
The Bench directed the CBI to investigate the role of all persons concerned, including officials and others, and proceed expeditiously in accordance with law.
It clarified that departmental proceedings could not substitute for a criminal investigation, as the two followed different procedures and standards of proof.
The court declined to order compensation at this stage, allowing the petitioners to seek it at the appropriate stage. It also clarified that its observations were prima facie and should not be treated as final findings against any person or influence the CBI investigation.
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Tags: #Jharkhand HC directs CBI probe into Rs 727.67 crore CMPFO loss
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