Spell out repayment plan: HC to owners of DSK Builders

Voicing concern over the plight of 1,350 depositors, most of them senior citizens, who were allegedly cheated by Pune-based DSK Builders, the Bombay High Court has asked the construction firm’s owners to furnish a plan to repay them

The Bombay High Court, on November 23, 2017, asked the promoters of Pune-based DSK Builders, to provide a proper plan, for refunding the depositors. Justice Ajey Gadkari was hearing the anticipatory bail applications of DS Kulkarni and his wife Hemanti, promoters of DSK Builders, in connection with a case registered by the Pune police, for allegedly duping depositors of Rs 189 crores.

See also: Will submit repayment plan in HC, on November 23, 2017: DS Kulkarni

Ashok Mundargi, the Kulkarnis’ lawyer, said his client would sell some of his properties and return the depositors’ money, but he needs some time. “Give me a proper scheme or plan and a list of the properties you plan to sell and their market value. I am concerned about the plight of the depositors. They only want their money back,” justice Gadkari said. The court posted the couple’s applications for hearing on November 30, 2017, while continuing the interim protection from arrest granted to them earlier.

The couple approached the high court after the Pune sessions court refused them pre-arrest bail. Following several complaints, the Economic Offences Wing (EOW) of the Pune police, conducted searches at DSK Builders’ offices and also wrote to banks, to freeze the firm’s accounts. According to the complaint filed by Jitendra Mulekar (65), one of the depositors, last month, he had invested Rs 4,40,647 in a deposit scheme of DSK Builders, but has neither received the interest nor the principal amount since February.

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