PUNE: City-based builder DS Kulkarni has been released on bail. He has been accused of cheating 9,000 investors of ₹800 crore. After his release on bail, many builders have started making efforts to purchase DSK’s properties. However, investors have alleged that instead of re-paying the investors, efforts are being made to grab these properties at throwaway prices.
Now, Mumbai-based Anshdan Property Limited has taken over DSKDL company. As per the agreement, the value of shares of DSKDL company will become zero. On September 21, the value of 2.5 crore shares is going to become zero and the company will cease to exist. This will result in large-scale losses for the shareholders.
An FIR had been registered against builder DS Kulkarni and his wife Hemanti Deepak Kulkarni at the Shivaji Nagar police station on October 28, 2018 under MPID Act. DSK and his family members had been arrested in March 2019.
DSK had started a FD scheme during his hey days and investors gave him a good response and invested ₹1,115 crore. The investors are yet to get back this money. Kulkarni’s main business is construction of housing projects and those who have invested money in these projects have been left in the lurch as they have not got possession of the houses.
When the investors were suffering, they got together and started probing about DS Kulkarni’s affairs which led to the expose of the scam.
