EOW request sale of 143 properties of DS Kulkarni developer to recover depositor’s money.

To assist depositors who placed their money in the safekeeping of now-jailed DS Kulkarni developer, officials of the Economic Offences Wing (EOW) of Pune Police will request the tribunal to allow the sale of 143 builders’ properties, all of which don’t have any litigation against them.

“If it is approved by the court, these properties may be sold and the refund process to the depositors will begin,” police officials said. The businessman Kulkarni is currently behind bars together with his wife and other family members in the Rs 2,091 crore economic fraud case reported at Pune Police.

The case was filed in 2018 after some of the depositors who had deposited money in fixed deposits with DSK went to the cops with the allegation that their deposits were not refunded by DSK.

After the case has been registered, the number of depositors with similar complaints has continued to grow and eventually, more than 3,000 depositors have approached the police for a refund of their money.

DSK’s movable and immovable assets have already been seized on the basis of a government notification issued on July 17 this year. Nonetheless, the police have now confirmed that they will ask the court to allow the sale of certain properties outside the reach of any litigation.

Pravin Chavan, Special Public Prosecutor (SPP), stated that “In our next hearing, we are going to ask that the court allows for the selling of 143 DSK properties that are free from any conflict. If the court approves, some amount can begin to be recovered during the sale of these assets.

A bunch of depositors are senior citizens who, in expectation of the good returns promised to him, spent most of their life savings with the jailed builder. Yet access to their savings was totally blocked with his arrest.

When contacted about the latest development, Sambhaji Kadam, EOW’s Deputy Commissioner of Police (DCP), said, “The depositors are facing monumental problems because huge amounts of money they have deposited have been blocked since months. We want to give these depositors some relief during our investigation of the case. If the clear properties have been sold, the complainants will receive money. We, therefore, urge the court to order such a sale.”

Source: MagicBricks