DSK’s Porsche, BMW and MV Augusta Superbike seized in Pune
PUNE: Economic Offences Wing (EOW) has confiscated high-end cars and two-wheelers of arrested builder DS Kulkarni from a showroom inside Veeya Vantage on Law College road on Monday. The confiscated cars comprises one Porsche, one BMW, two Toyota Camry and one MV Augusta Superbike.
Nilesh More, ACP (EOW) said, “We have taken the high-end vehicles belonging to Kulkarni in our custody. These vehicles were parked inside a showroom and the estimated price of these vehicles is nearly about Rupees five crores.”
Renowned builder DS Kulkarni and his wife Hemanti were nabbed at a hotel in Delhi in the wee hours of February 17, by a team of Pune police crime branch.
The Pune-based real estate couple was arrested as the Bombay High Court had vacated the interim protection pending their anticipatory bail. They have been booked by EOW of Pune city police on charges of cheating over 2,500 investors to the tune of Rs 230 crore.
The sessions court on Friday had remanded the city-based real estate developer and his wife to police custody for seven days. Special public prosecutor Pravin Chavan said EOW had obtained crucial information related to money transfers from the personal account of Hemanti.
Chavan stated that investors’ money was deposited in different partnership firms and later diverted to the personal account of Hemanti. Around Rs463 crore was found to be deposited in her account, and thereafter, Rs.90.94 crore went to the account of DSK and Rs163 crore to the personal account of her son, Shirish Kulkarni. The funds were utilised by the accused as if it was their private funds, when in reality, it was the hard-earned money of the gullible investors, he said.
The EOW is tracking the money trail and trying to unearth the whole conspiracy and also the modus operandi of the accused. The police have submitted details related to two electronic lockers that the Kulkarnis did not provide information about the keys. Police have seized a number of documents as part of the widened investigations in the case. EOW investigations have revealed that the Kulkarnis had systematically formed partnership firms without taking the mandatory permissions from the Reserve Bank of India (RBI); released big budget advertisements attracting investors and collected money from them with the sole intention of cheating.
DSK, who was remanded to police custody for a week on February 17, was admitted to the intensive care unit (ICU) of Sassoon general hospital on February 18 after he fell unconscious in the police lock up.
A special court on February 20 had passed an order stating that Kulkarni be moved to Deenanath Mangeshkar hospital for 48 hours, directing him to appear before the medical board of Sassoon General hospital on February 23 and for medical reports to be submitted in court.
The DSK couple was booked under the Indian Penal Code Sections 420 (cheating), 406 (criminal breach of trust), 34 (common intention) and Sections 3 and 4 of the Maharashtra Protection of Interest of Depositors (MPID) Act. The case was registered on October 28, 2017 at the Shivajinagar police station in Pune after which the EOW (Economic Offences Wing) took over the case.
The Central Bank of India (CBI) has decided to auction builder DS Kulkarni’s bungalow to recover the bank loan. The bank has released an advertisement in newspapers regarding the auction. The bank stated that the base price of the bungalow is more than Rs 66 crore and the auction is expected to take place by March 8 deadline. The premium bungalow is located on Senapati Bapat road in Pune. It is a luxurious two storeyed apartment with home theatre and swimming pool. The bungalow was also used for the promotional video of a housing project of DSK.