Something went wrong with the connection!
 Breaking News

DSK group asked to deposit Rs 50 cr in HC

DSK group asked to deposit Rs 50 cr in HC
January 30
09:07 2018

MUMBAI: The Bombay High Court has granted Pune-based real estate developer, DSK group, time till February 5 to deposit Rs 50 crore in the court to repay its investors, who have allegedly been duped of their money.

As a result, the earlier interim protection from arrest granted to the group’s owner, Deepak Sakharam Kulkarni, and his wife Hemanti was also extended till the next hearing on February 5.

Justice Sadhana Jadhav also asked the group to submit by February 2 a list of its properties and assets that can be mortgaged to help repay its investors.

She granted the developer time till February 5 to deposit Rs 50 crore with the court registrar, in compliance of the earlier HC orders.

The DSK group was supposed to have deposited the money last week but the developer told the court that while the money had been wired to one of its domestic accounts by the foreign bank, it needed at least three more days for clearance by the Reserve Bank of India.

“This court has no hesitation in putting you behind bars. However, the investors must be paid first. This is the court’s main aim. That is why the court is granting you an additional time,” Justice Jadhav said.

The developer, however, said the group had every intention to repay its investors and to comply with the court’s orders.

Last year, following several complaints from investors, the Economic Offences Wing of the Pune Police conducted searches at DSK’s offices and also wrote to banks to freeze the firm’s accounts.

According to the complaint filed by one of the depositors, investors had put in several lakhs each in a deposit scheme of DSK developers, but they had neither received the interest nor the principal amount for months.-PTI



Related Articles

E-paper Edition: January 19, 2019


Star Tours


Land Sea Homes


Please disable your ad blocker to view this site at it’s best, we do not display spam advertisements (Popups & full Page Ads) or any explicit material.
Advertisements serve as a minor source of income for maintaining the website.

Submit Feedback – Website Department 



It’s a lovely book. It feels energetically clear and light. It’s easy to read, dip in and out and most importantly it offers information without fluff! Blessings on this project.

Jac O’Keeffe
Spirituality teacher based in USA.

*Available on Amazon, Flipkart & other online stores*

Follow us On Twitter

RT @IndiaToday: Here is everything you must know about the much-revered seer #ShivakumaraSwamiji who passed away at the age of 111 https:/…
h J R
Salman Khan is returning as Inspector Chulbul Pandey in the third installment of the ‘Dabangg’ franchise !…
h J R
Film choices are a reflection of her as a person. Read why Actress Tabu feels this. #tabu…
h J R
Since I started my career with his project…to be working with him again, it has sort of come a full circle.” -…
h J R


Is 10% quota for economically backwards a gimmick?

View Results

Loading ... Loading ...

Subscribe To Our Mailing List

Enter your email address:

Delivered by FeedBurner

Subscribe to IndiaPost by Email



Download Media Kit