Pune: Investors Take Legal Steps to Reclaim Funds in DSK Cheating Case

Pune, 27th September 2024: Builder Deepak Sakharam Kulkarni (DSK) is facing allegations of cheating depositors. A group of depositors has filed an application in a special court in Mumbai seeking the return of seized properties from various partnership companies, including DS Kulkarni Developers Limited (DSKDL). The application and affidavit, submitted by 160 investors who deposited funds with DSK, have been filed with Special Judge SC Daga.

DSK established eight different companies and raised ₹8,500 crore from depositors. It is alleged that he misused these funds in various ways, including purchasing properties with money from depositors and acquiring land at reduced prices under the names of relatives. Many depositors have yet to receive their money back.

To recover the funds for depositors, the application requests that ownership of properties held under the names of DSK’s various partner companies be transferred to the depositors. The application states that these properties will be sold through the Red House Foundation, allowing for the repayment of depositors. The applications have been filed by Advocate Chandrakant Bidkar, representing the depositors.