EPFO Issues Notice to Adani Enterprises Over ₹1,567 Crore PF Dues Linked to Sahara Propert

As per the CNBC-TV18 reports, the Employees’ Provident Fund Organisation (EPFO) has issued a formal notice to Adani Enterprises, directing the company to clear ₹1,567 crore in unpaid provident fund (PF) dues. 

These dues are associated with Adani’s plan to acquire 88 properties from the Sahara Group. The EPFO has asked Adani to submit a detailed statement of assets and liabilities taken over as part of this transaction.

Background of the Notice

The notice from EPFO comes amid ongoing proceedings in the Supreme Court regarding the sale of Sahara properties. Adani and Sahara have filed pleas seeking the court’s approval to proceed with the sale of the 88 properties. EPFO’s intervention emphasises the recovery of statutory dues before completion of any asset transfer.

Directives to Adani Enterprises

The EPFO has directed Adani Enterprises to admit the outstanding PF dues owed to the Sahara Group. Additionally, the group must provide a comprehensive statement detailing all assets and liabilities acquired from Sahara as part of the property transaction. These measures aim to ensure transparency and regulatory compliance during the acquisition process.

Supreme Court Hearing

The hearing on the Sahara-Adani case is scheduled for today at 2 pm in the Supreme Court. Both Sahara and Adani have filed pleas seeking approval for the sale of Sahara’s 88 properties. The outcome of the hearing will determine the next steps for the asset transfer and PF dues settlement.

Read More: EPFO Plans to Set New Benchmarks for EPF, EPS, and EDLI Returns

Conclusion

EPFO’s notice to Adani Enterprises for recovery of ₹1,567 crore PF dues underscores the regulatory oversight in high-value property transactions. The Supreme Court hearing today will be crucial in deciding the approval for the sale of Sahara’s 88 properties and the settlement of pending dues.

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