Police action on DS Kulkarni begins: Searches at 5 properties in Pune and Mumbai, including house

Police began the searches in order to gauge the DSK Group's economic condition

Police carried out searches at five properties belonging to Deepak Sakharam Kulkarni, in Pune and Mumbai, on Thursday morning. The five places that the police surveillance teams were at included DS Kulkrani’s house. DSK owns for residences in Pune and one in Mumbai.

Investors gather outside the DSK offices on JM road this morning. (HT Photo)

Senior police sources, who has to remain confidential, told HT that police began the searches in order to gauge the DSK Group's economic condition.

The 68-year-old businessman was not present at any of the locations, according to the police sources.

Until yesterday, at least 248 people had approached the Economic Offence Wing (EOW) filinf cases involving payment defaults on interest against money invested in the form of fixed deposits (FD) with DSK. A case of cheating has also been registered at the EOW.

A case of cheating and breach of trust was registered at Shivajinagar police station against DS Kulkarni and his wife, Hemanti Deepak Kulkarni, last week.