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Troubled investors of DSK Group may knock apex court doors

A public interest litigation (PIL), seeking swift justice, will be lodged by their lawyers in the apex court soon.

pune Updated: Feb 04, 2018 21:52 IST
Nadeem Inamdar
Nadeem Inamdar
Hindustan Times, Pune
dsk,investors,fixed deposit scheme
The developer said there is a deliberate attempt by some people to malign his image though he is trying to sell his properties and pay back the money.(HT File Photo)

Aggrieved by the inordinate delay in refunds, a major chunk of the beleaguered investors of DS Kulkarni Group will soon knock the doors of the Supreme Court seeking justice and an early end to their financial woes.

A public interest litigation (PIL), seeking swift justice, will be lodged by their lawyers in the apex court soon. A decision to this effect was taken during an investors’ meet at the right to information (RTI) ‘katta ‘(meet) at Chittaranjan Vatika on Sunday. Investors are also planning morchas, self immolation and picketing of senior government officials and ministers citing that the DSK case has been moving at a sluggish pace.

Kulkarni, known as DSK, however, said “If some people stop talking to the media and stop creating hurdles, I will return all the money within three months.”

The developer said there is a deliberate attempt by some people to malign his image though he is trying to sell his properties and pay back the money.

“I am ready to sell my properties at lower cost than the market rate so that I can pay back the money to investors and the bank. All this should happen through the court,” said Kulkarni.

After repeated extensions given to DSK by the courts, investors say they have come to the conclusion that a strong follow up is needed with the state government, the police department and the Reserve Bank of India (RBI). Thousands of investors and depositors from Pune, Mumbai and Kolhapur who have been cheated have lodged complaints with the police against the DSK Group, led by Deepak Sakharam (DS) Kulkarni, and his wife Hemanti.

The complaints are related to cheating and not refunding their money invested in DSK Group’s fixed deposit (FD) schemes.

Investors expressed their displeasure over the slow investigation of the case and said that strong action has not been taken by the concerned government agencies against DS Kulkarni till date despite complaints related to large scale fraud, misappropriation and siphoning off money.

RTI activist Vijay Kumbhar, who has been leading the fight to get the depositors money back from the DSK Group said, “The investors have decided to file an intervention application in the Supreme Court if DSK is granted further reprieve in the case. The banks who have given loans have not followed the laws, and hence, the bank officials are liable to pay for the loans and not the investors. Efforts must be made to sell off the DSK properties and the money should be immediately deposited in the accounts of the FD holders.”

Kumbhar demanded that a notification for the sale of seized DSK properties must be issued by the Maharashtra government on top priority. Explaining further, he said that in the wake of the auction of mortgaged DSK’s properties, the banks will be making the first claim over the money, but we have found that banks violated banking rules and hence were not entitled to the auction money.

Meanwhile, the Aam Admi Party (AAP) has pledged support to the investors. Mukund Kirdat of AAP promised that the party would extend its full support to the investors and depositors in fighting the court cases in Delhi and will offer legal help in this regard. The investors expressed their anger towards humiliatory and non co-operative attitude of the DSK office staff.

First Published: Feb 04, 2018 21:14 IST