DSK’s Wife Hemanti Kulkarni Granted Bail In MPID Case In Kolhapur

Pune/Kolhapur, 17th February 2022: The district court in Kolhapur has granted bail to Hemanti Kulkarni (62), wife of builder DS Kulkarni (DSK), in a cheating and forgery case registered at Rajarampuri police station in Kolhapur. They had allegedly misappropriated an amount worth Rs 19.77 crores by promising good returns on investments.

Hemanti and her husband were arrested on 17th February 2018 in connection with a case registered at Shivajinagar police station, Pune. Since then they are lodged at Yerwada Central Jail.

The FIR at Rajarampuri Police station in Kolhapur was registered on 9th November 2017 and she was arrested on 8th October 2018 and then magisterial custody was granted. A chargesheet was filed in December 2018.

According to police, the crime took place in the office of DSK Toyota Company situated in Udyamnagar from 21/4/2014 to 7/6/2017. DSK Deal and Partnership firms gave temptation of more interest rate to public and through the advertisements, through programs, the partnership firm collected money from the depositors in the form of deposits and loans. By way of transferring this money elsewhere, they failed to repay money of the depositors as the cheques issued by them also bounced.

It is alleged that the accused persons and their other colleagues have allegedly made pre-planned conspiracy, used various modes operandi and in planned manner obtained loans from the banks, collected money from the public in the form of deposits and loan bonds and by way of transferring this money elsewhere they have committed misappropriation of funds in planned manner for which they have utilized the DSK Deal Company, its resources and employees of the company in a proper manner.

For this work, the chargesheet states, accused Deepak Sakharam Kulkarni, Hemanti Deepak Kulkarni, Shirish Deepak Kulkarni have allegedly formed different companies and partnership firms with pre-planned conspiracy and collusion with malafide intention and ulterior motive. Use of these companies and partnership firms was allegedly made either for collecting money or for turning the collected misappropriating the same.
They have allegedly caused a misappropriation of funds to the tune of Rs 19.77 crore.

Hemanti Kulkarni’s counsel Adv Aashutosh Srivastava said, “While granting bail, the court considered the arguments that the Bombay High court has already granted bail to her in the first FIR filed at Pune, further the accused cannot be detained indefinitely as an undertrial prisoner and in absence of framing of charges when all the properties have been attached by the investigating agencies.”

The accused in the case have been booked for offences under section 406, 409, 420, 467, 120(B), 34 of Indian Penal Code (IPC) and Section 3 and 4 of Maharashtra Protection Of Interests Of Depositors (MPID) Act, and Sections 3, 4, 5, 6 of Prize Chit And Money Circulation (Banning) Act and Section 45-S, 45-I, A/58 Of Indian Reserve Bank Act.

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