In case the auction is allowed, then the money raised by auctioning all these properties will be used to pay the outstanding dues of the employees of DSK Developers Limited (DSKDL) and to the depositors who are affected by the Rs 2,091-crore fraud which is allegedly committed by DS Kulkarni.
D G Murumkar, Special MPID judge said that all these properties are plots and agricultural land parcels that are primely located in Pune and Satara. All these properties are estimated to be of worth Rs. 500 crore.
Chavan also said that a separate plea is filled to dispose DSK’s seized imported and high-end vehicles that cost of worth Rs. 5 crores and the court has already directed a notice regarding the same.
The lawyers of DS Kulkarni are expected to file a reply on the prosecution’s plea on 28th January. The case is scheduled to be heard on this date.
Sushilkumar Pise, one of DSK’s lawyers said that the court has decided on auction of properties and we will submit our file and the court will have to hear our side before giving a judgement on the same.
The plea is filed under Section 4 of the Maharashtra Protection of Interest of Depositors [MPID] Act.
In February 2018, the investigators identified 412 properties owned by DS Kulkarni, his relatives and DSKDL. After which a proposal was tabled before the State Government to attach these properties in revert to this a notification was issued on 5, 2018 to attach these properties.