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Monday, March 30, 2020

Pune DSK Group ‘fraud’: Court asks state govt to issue notices towards auction of assets

On Monday, the special court directed the state government to issue notices towards the auction of these seized assets so that the money recovered through it can be given to banks and depositors.

By: Express News Service | Pune | Published: January 21, 2020 1:17:02 am
DSK Group fraud case, pune sepcial court, pune news, maharashtra news, indian express news In August last year, the special court had allowed the plea of the state government to auction 13 high-end vehicles seized from the DSK Group during the investigation.

A special court in Pune, which is hearing the alleged Rs 2,091-crore fraud case against Pune-based DSK Group, Monday directed the state government to issue notices towards the auction of over 460 properties and assets of the group that have been seized by the investigating agencies during investigation.

Since October 2017, the Economic Offences Wing of Pune City Police is probing the DSK Group for allegedly cheating around 35,000 depositors and investors to the tune of Rs 1,083 crore, siphoning of Rs 711 crore received in the form of loans, and Rs 111 crore accepted through debentures and the deal of a land in Fursungi which involved embezzlement of Rs 184 crore. The Enforcement Directorate had also launched an investigation into the alleged money laundering case by the group.

Both the state government, through the Pune police, and the ED have seized properties and other assets of the group.

On Monday, the special court directed the state government to issue notices towards the auction of these seized assets so that the money recovered through it can be given to banks and depositors.

The court said that after the notices were issued, people who have objections should be present before it on February 3. After consideration and ruling on the objections, further procedure would be conducted, it said.

In August last year, the special court had allowed the plea of the state government to auction 13 high-end vehicles seized from the DSK Group during the investigation. The auction is slated to take place in February.

Meanwhile, D S Kulkarni’s brother Makarand Kulkarni, also an accused in the case, has moved a bail plea before the special court Monday.

The court asked the prosecution to file its say on the bail on January 24. Police have alleged that Makarand was involved in embezzlement of Rs 184 crore through a land deal in Fursungi near Pune between 2006 and 2008.

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