Delhi HC seeks CBI response as DFC pensioners allege irregularities in ₹40-crore fund transfer

The Delhi High Court has sought the CBI’s response to a plea by several Delhi Financial Corporation (DFC) pensioners seeking registration of an FIR over alleged irregularities in the corporation’s Pension Trust, including the transfer of ₹40 crore towards repayment of DFC’s loan liability.

Justice Mini Pushkarna, in an order dated October 1, directed the CBI to file its reply within four weeks after the agency opposed the plea, arguing that grounds for a CBI investigation had not been made out. The agency also submitted that the petitioners had neither approached the jurisdictional police station nor filed a complaint with the police.

According to the plea, the controversy centres on the DFC Employees’ Pension Trust, constituted under a trust deed on September 30, 2011, which held a dedicated corpus for pensionary benefits. The petition contended that regular pension payments to approximately 180 pensioners abruptly stopped in December 2025 without any prior notice or a formal resolution of the DFC board.

While pensioners remained unpaid, an internal communication issued on April 6, 2026, with the approval of the DFC chairman-cum-managing director (CMD), in his capacity as chairperson of the Pension Trust, directed the transfer of ₹40 crore from the Trust to settle an institutional loan liability owed by the corporation to the Delhi government.

The Trust subsequently instructed Union Bank of India, through a cheque dated April 7, to transfer the funds to the government’s account.

Appearing for the petitioners, advocate Ankur Malik argued that the documented sequence of events disclosed cognisable offences under Section 316 of the Bharatiya Nyaya Sanhita (BNS) for criminal breach of trust, alongside provisions of the Prevention of Corruption Act, 1988.

“The entrustment, dedicated purpose and identified dealing with the corpus furnish a prima facie factual foundation for investigation into dishonest use/disposal of entrusted property contrary to the governing obligation,” Mr. Malik argued in the plea.

The petitioners sought an investigation into whether the transfer was authorised under the Trust’s governing provisions, whether the existing pension liabilities were secured and how the money was ultimately utilised.

Separately, the petitioners referred to the death of pensioner Prem Jeet on May 27, 2026, following an alleged medical emergency. One petitioner claimed that the cessation of pension payments and medical facilities left the family unable to finance continued treatment.

The petitioners argued that an independent investigation is necessary because the allegations concern public funds, senior-level decision-making and records held by multiple institutions, including DFC, the Pension Trust, the Delhi government, banks and anti-corruption authorities. They have also sought preservation of original documentary and electronic evidence, citing DFC’s ongoing winding-up process.

The court posted the matter for further hearing on December 15.