Court rejects bail pleas of Pune builder DSK, wife Hemanti

Special Judge J N Raje on Friday rejected the bail application of jailed real estate developer DS Kulkarni alias ‘DSK’ and wife Hemanti in connection with the Rs. 2,091 crore economic offences case. The next hearing in the case will be held on December 10.

Kulkarni, founder and chairman of DS Kulkarni Developers Ltd (DSKDL) and his wife Hemanti had moved an application before a special court under the Maharashtra Protection of Interest of Depositors (MPID) Act, 1999 seeking interim bail till the disposal of their main bail pleas. They had cited inordinate delay by Pune police in completing the probe into the alleged Rs 2091.11 crore economic fraud case.

The Kulkarnis had sought the court’s directions to the investigating officer for a final forensic audit report related to the case and a day-to-day hearing of their bail pleas.

The alleged fraud refers to siphoning of funds raised via depositors, secured and unsecured loans, non-convertible debentures and money collected from homebuyers in various stalled projects of the DSK group.

Confirming the rejection of the bail application, DSK’s defence counsel advocate Chinmay Inamdar said a copy of the detailed order would be available in the next few days.