DSK in jail - two years on: Verification of attachment for 460 properties attracts 39 objections
Multiple banks, builders, land owners, enforcement directorate have raised objections
It has been two years since Pune-based real estate developer Deepak Sakharam Kulkarni, known as DSK, went behind the bars, along with his wife Hemanti, and son, Shirish Kulkarni, in a case involving 32,000 investors and the misappropriation of Rs 2,043 crore.
Investors, today, are still waiting for their hard-earned money to be returned. They will have to wait longer, as the notice for verification of attachment of 460 DSK properties has attracted 39 objections in the court of additional sessions judge Jayant Rane in Pune.
“There are 30 objections. These are from friends and banks mostly,” said special public prosecutor Pravin Chavan.
The banks which have registered objections in the case include Syndicate Bank, Punjab National Bank, Bank of Maharashtra, Bank of India, Sangli Urban Bank, State Bank of India, and Union Bank, according to court records.
Besides the banks, other builders, land owners, and the enforcement directorate (ED) are also taking objections.
The ED has taken objection as it has attached DSK properties worth Rs 904 crore under the Prevention of Money Laundering Act (PMLA) in February 2019.
Additionally, in a ray of hope for investors, nine cars belonging to DSK were auctioned on February 15, which helped authorities recover Rs 39.45 lakh.
The money raised from the auction will be submitted to the court.
DSK had submitted some amount of money to the court in the initial days of his arrest, according to his lawyers.
DSK, along with wife Hemanti, were arrested from a hotel in New Delhi on the morning of February 17, 2018. An FIR was registered on October 29, 2017, against them at Shivajinagar police station under Sections 420 (cheating and dishonestly inducing delivery of property), 406 (criminal breach of trust) and 34 (common intention) of Indian Penal Code (IPC) and sections 3 and 4 of Maharashtra Protection of Interest of Depositors (MPID) Act.
The case is being investigated by the Economic Offences Wing (EOW) of the Pune police, with assistant commissioner of police Shivaji Pawar the investigating officer.
After the registration of the FIR, the Kulkarni couple managed to prevent arrest through anticipatory bail granted to them by the Bombay High Court.
However, on February 16, 2019 the Bombay High Court refused to extend their anticipatory bail.
Son Shirish Kulkarni, and DSK’s brother Makrand Kulkarni are also among those arrested in the case and lodged in Yerawada Central Jail.
The first chargesheet in the case is against DSK and his wife Hemanti Kulkarni.
The second chargesheet is against Shirish Kulkarni, son of DSK; Anuradha Purandare, Vinay Baggandi, relatives of DSK; Kedar Wanjpe, DSK’s elder brother’s son-in-law; Sai Wanjpe, DSK Group’s former chief operating officer (COO); and Dhananjay Pachpor, DSK Group’s former chief operating officer (COO). The third chargesheet named Rajiv Newaskar, chief engineer and vice-president of DSK Developments Limited and Madhukar Ghatpande, accountant of DSK.
The case so far...
Case: Case under 406, 420, 34 of Indian Penal Code and Sections 3 and 4 of Maharashtra Protection of Interest of Depositors filed against DSK and wife on October 28, 2017.
Arrest: The two were arrested from a hotel inNew Delhi on the morning of February 17, 2018.
ED attachment: Through a notification dated May 5, 2018, ED attached 459 properties, 276 bank accounts, and 46 vehicles and other valuables of DSK and his businesses worth Rs 904 crore.
Chargesheet: On May 17, 2018, a 37,000-page chargesheet was filed against 13 people by EOW, Pune police. On August 13, 2018, a supplementary chargesheet was filed against six people.