Uttar Pradesh Power Employees Joint Action Committee has demanded that the state government issue a gazette notification taking responsibility for the payment of provident fund of the power employees as the Reserve Bank of  India has superseded the board of the DHFL  and appointed an administrator to run the management of the company.
The RBI has superseded the board of DHFL owing to governance concerns and defaults by the housing finance company in meeting various payment obligations.
Shailendra Dubey, convenor of the joint action committee, said here on Wednesday that the UP government was now left with no option but to issue a categorical undertaking for payment of the provident fund and contributory provident fund of the power employs. 
The UP Power Employees Provident Fund Trust had invested Rs 4,100 crore as fixed deposits in the scam tainted housing finance company.
The DHFL has paid back some amount on maturity of fixed deposit by Power Employees PF Trust but it still owes over Rs 2,100 crore to power employees trust. 
The DHFL has defaulted in payment of Rs 15,000 crore to fixed deposit holders, Rs 38,000 crore to PSU banks. The total debt on DHFL is a whopping Rs 88,000 crore which it owes to banks, mutual funds, pension funds, National Housing Bank, depositors and fixed deposits.
The RBI has appointed R Subramaniakumar, former managing director and chief executive of Indian Overseas Bank, as the administrator.
This would be the first housing finance company that is heading to bankruptcy tribunal under new rules of Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019, notified on November 15.
The move comes after the Centre on November 15 empowered the RBI to refer stressed non-banking finance companies and housing finance companies having assets worth at least Rs 500 crore to insolvency court under National Company Law Tribunal.