Left Menu
Development News Edition

Cheating case: 'DSK, kin misappropriated Rs 184 cr in land deal'

PTI | Pune | Updated: 15-08-2019 00:43 IST | Created: 15-08-2019 00:42 IST
Cheating case: 'DSK, kin misappropriated Rs 184 cr in land deal'
Representative image Image Credit: ANI

Builder D S Kulkarni's brother Makrand, arrested in connection with a Rs 2,000-crore cheating case, had allegedly sold a land to DSK Developers at an inflated rate and "misappropriated" Rs 184 crore through the deal in connivance with the main accused, a court was told on Wednesday. On the request of the prosecution that the police wanted to probe Makrand for this transaction and verify his bank accounts, Additional Sessions Judge A S Bhaisare remanded him in police custody till August 17.

Makrand (66) was detained at the Mumbai airport on Tuesday when he was about to fly abroad. A lookout circular was earlier issued against him by the Pune police since he was on the run after his anticipatory bail plea was rejected by a court.

In May last year, the Pune police had filed a chargesheet against city-based builder D S Kulkarni, also known as DSK, his wife and others for allegedly cheating nearly 33,000 depositors and investors of nearly Rs 2,043.18 crore. Makrand is also an accused in the case.

According to the prosecution, Makrand was involved in misappropriating Rs 184 crore through a land deal between 2006 and 2008. "It has been noticed that the present accused (Makrand) was involved in the conspiracy (hatched) by D S Kulkarni, his wife and family members. It has been revealed that the present accused misappropriated Rs 184 crore through the land deal," Public prosecutor Pravin Chavan said while seeking Makrand's police custody.

The police had said the land, located on the outskirts of Pune, was allegedly purchased in the name of Makrand. "In the next one to two months, the said land was sold to DSKDL (DSK Developers Limited) at a much higher rate. The excess amount was misappropriated as part of a conspiracy," Chavan said.

"Since Makrand's role has been established, police would like to question him over this transaction and verify his bank accounts," he added. According to a complaint filed in 2017 by one of the depositors, Jitendra Mulekar, investors put in lakhs of rupees in a deposit scheme of DSK Developers, but they neither received the interest nor the principal amount for months.

The Economic Offences Wing (EOW) of the police had earlier booked the Kulkarnis under various provisions of the Maharashtra Protection of Interest of Depositors (MPID) Act and Indian Penal Code sections 420 (cheating and dishonestly inducing delivery of property), 406 (criminal breach of trust) and 34 (common intention). Around 15 people have been named as accused in the case and 10 of them have so far been arrested, including DSK and his wife, who are currently lodged at the Yerawada jail in Pune.


TRENDING

OPINION / BLOG / INTERVIEW

Pandemic must be impetus, not obstacle, for clean water access

To make matters worse, there are suspicions that the inadequacy of wastewater treatment methods in California, the rest of the USA, and indeed around the world may help to propagate the disease even more widely. ...

3D printing and the future of manufacturing post COVID-19

The on-demand, customizable, and localized manufacturing of product components facilitated by 3D printing has the potential to redefine manufacturing but there are certain technical, mechanical, and legal limitations that, unless ...

How UK’s 'best prepared' healthcare system failed to gauge COVID-19

The UK is proud of their public health system and its unlike any other country as around 90 percent of British public supports the founding principles of National Health Service. But without accurate data being available to stakeholders in ...

Poor on IHR capacity progress in 2019, WHO says Cambodia tops COVID-19 response

Despite being in proximity to Hubei, the original epicenter of COVID-19 pandemic, Cambodia has reported just 226 confirmed cases and zero deaths. After seeing the data, WHO appreciated Cambodias healthcare information system but experts dou...

Videos

Latest News

Pakistan violates ceasefire in J-K's Poonch

Pakistan on Sunday initiated unprovoked ceasefire violations along LoC by small arms firing and shelling with mortars in Shahpur, Kirni and Krishna Ghati sectors in Poonch district of Jammu and Kashmir. Pakistan violated the ceasefire at ab...

Learn guitar, play some cards to maintain bio-secure bubble: Lee tells IPL-bound players

Guitar and card games are options former Australia speedster Brett Lee wants the IPL-bound cricketers to explore in order to maintain the bio-secure bubble during their long stay in the UAE. The IPL will be held in the United Arab Emirates ...

Pak shells forward areas along LoC in J-K's Poonch

Pakistani troops shelled forward areas along the Line of Control LoC in Jammu and Kashmirs Poonch district on Sunday, prompting a befitting response from the Indian Army, a defence spokesperson said. There have been no reports of any casual...

507 new cases take J-K's COVID-19 tally to 24,897; death toll rises to 472

An increase of 507 coronavirus cases took the COVID-19 tally in Jammu and Kashmir on Sunday to 24,897, while 13 deaths due to the viral disease were recorded in the last 24 hours, officials said. Of the new deaths, 12 occurred in the Kashmi...

Give Feedback