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Pune police opens inquiry into DSK housing finance loan recovery

Representatives of PNB Housing Finance Limited and Tata Capital Housing Finance Limited were called in by the economic offences wing this week

pune Updated: Mar 29, 2019 16:54 IST
Shalaka Shinde
Shalaka Shinde
Hindustan Times, Pune
Pune,Pirangut,DSK
The Pune police have initiated an inquiry into the Deepak Sakharam Kulkarni (DSK) construction company’s housing scheme in Pirangut.(HT PHOTO)

The Pune police have initiated an inquiry into the Deepak Sakharam Kulkarni (DSK) construction company’s housing scheme in Pirangut, that has allegedly left investors with mounting unpaid loans and no houses to show for it.

Representatives of PNB Housing Finance Limited and Tata Capital Housing Finance Limited were called in by the economic offences wing (EOW) this week.

“We disbursed loans as per the work completed. We spoke with the police and submitted required documents. We stopped collection of loans from people who opted for this scheme a year-and-a-half ago,” said Shekhar Wagh, spokesperson of Tata Capital Housing Finance in Pune. He said the company had approved loans for at least 200 people.

“The police called us on Wednesday and we will be going on Friday as well. We had approved loans for 16 people. Collection had stopped much earlier. The scheme was under subvention and we were collecting money from DSK right up until he got arrested,” said Hemchandra Sahu, spokesperson of PNB Housing Finance in Pune.

The scheme was titled and advertised as ‘Adhi Ghar, Paise Nantar’ and claimed payment by buyers only after possession. The buyers who opted for the scheme were granted options of multiple finance companies for loans .

A group of seven buyers have produced documents that claim to show discrepancies in paperwork, as well as the amounts disbursed by the finance companies to DSK.

After a case of cheating and defrauding was filed against Kulkarni and his wife Hemanti, all DSK the housing projects came to a standstill. However, the non-payment of EMIs for the loan amount disbursed to DSK by the finance companies is reflecting in the accounts of the buyers.

“I’m an IT professional working for a bank (in Pune). When I was changing my job, my prospective employer told me that I could not get the job as my credit score (CIBIL score) was low. I found out that the non-payment of the loan against my investment in the Pirangut project had affected my score. I had to pay Rs 9 lakh to settle my credit score in order to get the job,” says Prafulla Wagjmare, 35, married, with a child.

Amol Jadhav, 46, a private school teacher from Pune, has a sanctioned loan of Rs 25 lakh from Tata Capital, and paid two instalments of Rs 18,000 in 2017. In November 2018, Jadhav suffered a heart attack.“My daughter is now in Class 12. I may need a loan in the coming years, but I do not think I will get one, because of my CIBIL score,” says Jadhav.

First Published: Mar 29, 2019 16:53 IST