- DSK in Hot Water: Pune-based builder Deepak Sakharam Kulkarni, popularly known as DSK, is currently facing serious allegations of cheating depositors. A group of 160 investors has taken legal action by filing an application in a special court in Mumbai, seeking the return of seized properties from various partnership companies, including DS Kulkarni Developers Limited (DSKDL).
- Massive Fund Mismanagement: DSK reportedly raised a whopping ₹8,500 crore from depositors through eight different companies. However, it is alleged that he used these funds inappropriately, including purchasing properties and acquiring land at discounted rates under the names of his relatives. As a result, many depositors have yet to receive their hard-earned money back.
- Seeking Justice for Depositors: In an effort to recover the funds for the depositors, the application requests that ownership of properties held by DSK’s partner companies be transferred to the investors. These properties will then be sold through the Red House Foundation, with the proceeds going towards repaying the depositors. Advocate Chandrakant Bidkar is representing the depositors in this legal battle.
- Red Flags Raised: The allegations against DSK have raised red flags in the real estate industry and among investors. This case serves as a cautionary tale for depositors to conduct thorough due diligence before investing their money with any company or individual.
- Stay Tuned for Updates: As the legal proceedings unfold, the future of DSK and the fate of the depositors remain uncertain. Stay tuned for more updates on this developing story as justice is sought for the affected investors.
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