Pune: In a significant development in the multi-crore fraud case involving construction tycoon Deepak Sakharam Kulkarni (DSK) and his company D.S. Kulkarni Developers Ltd. (DSKDL), a detailed list of the company's properties was submitted in court, categorized into seized and unseized assets.
The list includes 54 properties that have not yet been seized by the authorities.
The submission follows a directive from the special court in July, which ordered the categorization and submission of properties listed in the resolution plan proposed by Ashdan Properties Pvt. Ltd.
This company has offered to purchase DSKDL and repay ₹161 crore to the debenture holders. Surendra Navale, the Sub-Divisional Magistrate of Maval-Mulshi, submitted the list in compliance with the court's order.
The court had originally ordered the seizure of DSK's properties in May 2018, following the registration of fraud charges. The seized properties currently total 153.
In the latest proceedings, Special Public Prosecutor Kailas Chandra Vyas and Magistrate Navale raised no objections to releasing the properties, both seized and unseized.
However, the proposal to release the properties has met with resistance from depositors who have filed an intervention application through the Red House Foundation.
The depositors, who are owed significant sums, have requested that no properties be released until their investments are refunded. Advocate Chandrakant Bidkar, representing DSK’s 35,000 depositors, has formally opposed the release of the properties, and a counter-petition has been filed against the intervention.
A hearing on this matter is scheduled for Tuesday, September 3rd. Speaking on behalf of the affected investors, Shantanu Kukde, President of the Red House Foundation, emphasized the urgency of the situation.
"We are fighting in court to ensure that depositors who invested with DSK receive their money. Many depositors are currently facing financial difficulties. We hope that the necessary judicial processes are expedited to provide them relief. We are pursuing the required follow-up, but the question remains as to when the depositors will receive relief," Kukde stated.
