DSK Fraud Case: Investors Seek Return of Seized Properties To Reclaim FundsÂ
DSK Fraud Case: Investors Seek Return of Seized Properties To Reclaim FundsÂ
A significant development has unfolded in the ongoing fraud case against developer Deepak Sakharam Kulkarni (DSK), as a group of 160 investors has filed an application in a special court in Mumbai. The investors, represented by Advocate Chandrakant Bidkar, are seeking the return of seized properties from various partnership companies, including DS Kulkarni Developers Limited (DSKDL).
DSK is accused of raising a staggering ₹8,500 crore from depositors through eight different companies and misusing the funds for personal gain. The alleged misuse includes purchasing properties with depositor money and acquiring land at reduced prices under relatives’ names. Thousands of depositors have been defrauded, with many yet to receive their investments back.
The investors’ application requests that ownership of properties held under DSK’s partner companies be transferred to the depositors. These properties will be sold through the Red House Foundation, allowing for repayment to depositors. Special Judge SC Daga will preside over the case.
The investors’ move marks a crucial step towards recovering their lost investments. With over 1,000 complaints filed against DSK, the outcome of this case will have far-reaching implications for the affected investors. The court’s decision will be closely watched, as it may set a precedent for similar cases of financial fraud.
The case highlights the plight of depositors who entrusted their savings to DSK, only to be left with significant financial losses. The court’s ruling will be eagerly awaited by the affected investors, who hope to recover their hard-earned money.
