Mumbai: The Bombay high court has directed developer D.S. Kulkarni and his wife to be present before the Economic Offences Wing at Pune on February 7 and before the high court on February 13. The HC warned that if Kulkarni does not show how he plans to pay the investors on February 13, it would order the police to arrest him.
A single bench of Justice Sadhana Jadhav was hearing an anticipatory bail application (ABA) filed by Pune based builder D.S. Kulkarni who allegedly duped investors for Rs 600 crore. On last hearing the court had asked him to deposit Rs 50 lakh in the court before asking for ABA but he failed to deposit.
His counsel Ashok Mundargi informed the HC that Kulkarni is ready to sell his four properties to repay the investors money and requested court to direct state to sell this property. But prosecutor raised objection saying this properties are mortgage with some other company.
The HC rapped the state for not taking the steps to sell the property to recover money from the DSK builders.
