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Thursday, August 06, 2020

Pune: Court grants bail to DSK’s brother Makrand Kulkarni in fraud case

Makrand was arrested nearly a year ago for his alleged involvement in the embezzlement of Rs 184 crore through a land deal in Fursungi, near Pune, between 2006 and 2008.

By: Express News Service | Pune | Published: July 6, 2020 11:57:42 pm
Fraud case, DSK Group, Pune news, Maharashtra news, Indian express news Makrand had filed an application seeking regular bail though lawyer Rohan Nahar, on the ground that there are no allegations against him in the first information report (FIR) lodged in this case. (Representational)

A special court in Pune has granted bail to Makrand Kulkarni (67), an accused in the DSK Group fraud case and the brother of jailed developer DS Kulkarni, the key accused. The court passed the order in this regard on July 3.

Makrand was arrested nearly a year ago for his alleged involvement in the embezzlement of Rs 184 crore through a land deal in Fursungi, near Pune, between 2006 and 2008.

Kulkarni, his wife Hemanti and the other accused in the case have been charged under various sections of the Indian Penal Code and the Maharashtra Protection Of Interest of Depositors (MPID) Act, for allegedly cheating thousands of investors through various investment schemes of the companies. At present, 15 persons, including Makrand, stand named in the case, of which 10 have been arrested and chargesheeted.

Makrand had filed an application seeking regular bail though lawyer Rohan Nahar, on the ground that there are no allegations against him in the first information report (FIR) lodged in this case. He also claimed that he was only a partner in D S Kulkarni and Associates, and D S Kulkarni and Company, from December 15, 1986 to April 1, 1993 and May 10, 1985 to April 1, 1993. He said after that, he was nowhere concerned with any of the DSK companies or its firms.

He also claimed that he neither accepted any deposit from the public nor induced anyone to invest any amount in any DSK companies and firms. Besides, he also claimed that his bank account was operated by other accused, Anuradha Purandare or Hemanti Kulkarni, and he was not aware of the transactions happening in his bank account. Makrand claimed he only signed a few cheques at the instance of the main accused and he had blind faith in his brother. He also stated in the bail application that he is a heart patient and a senior citizen.

The prosecution lawyer opposed Makrand’s bail, alleging that the probe revealed his involvement in the financial scam and siphoning off funds of the company. The prosecution alleged that Makrand was one of the conspirators of the alleged multi-crore scam.

The court, however, observed that there were no allegations that Makrand played any role in collecting the deposits or defaulting in repayment. “The court also observed that the investigation related to Makrand is completed, so considering his age and alleged role in the offence, it is not required that he should be kept behind bars for further period. The court granted him bail on conditions that he shall not directly or indirectly make any inducement, threat or promise to any prosecution witnesses, he should not leave the country without prior permission of court..,” said his lawyer Nahar.

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