On Thursday however, the police informed that the properties had already been mortgaged .
Mumbai: The Bombay high court has vacated the interim stay from arrest given to developer Deepak Kulkarni, owner of DSK construction company, which allegedly duped 2,700 investors of nearly Rs 200 crore. Mr Kulkarni can be arrested anytime now. The court has also directed the police to alert all airports so that he cannot escape from the country.
A single bench of justice Sadhana Jadhav was hearing the anticipatory bail application (ABA) of Mr Kulkarni. In November 2017, justice Jadhav gave him interim protection from arrest when Mr Kulkarni assured that he would repay the investors’ money. At the time, Mr Kulkarni also agreed to the court’s condition that he would deposit Rs 50 crore in the high court registry but ultimately failed to do so.
Last Tuesday, Mr Kulkarni informed the court that he had arranged for Rs 12 crore and that the BUMCCS had agreed to accept his liability up to Rs 100 crore by mortgaging his properties that were worth thousands of crores of rupees. On Thursday however, the police informed that the properties had already been mortgaged .
Justice Jadhav said, “They took the law and the court for granted and cheated not just the investo