PUNE: The Bombay high court on Monday directed prominent developer
D S Kulkarni and his wife Hemanti to report to the economic offences wing (EOW) every day from February 7 to 11 and cooperate with the ongoing probe into a case under the Maharashtra Protection of Interest of Depositors (MPID) Act lodged by the depositors.
The Kulkarnis have to report to the EOW authorities every day between 11am and 1pm and 3pm and 5pm from February 7 to 11.
The bench of Justice
Sadhana S Jadhav was hearing the anticipatory bail plea jointly moved by Kulkarni, also known as DSK, and his wife. The court took a stern view of the fact that the promised transfer of Rs50 crore from Singapore has failed to come through and told DSK to come up with a concrete plan on how he intends to deposit the money by the next hearing on February 13.
On January 22, Kulkarni's lawyer had furnished two documents relating to money transfer of $40 lakh each, initiated from a foreign bank to one of the companies, of which DSK is a director. The total transaction of $80 lakh is equivalent to approximately Rs51 crore. The court then adjourned the matter to facilitate verification of this transaction.
On January 25, the court extended the interim protection to DSK and his wife after a foreign client, with whom DSK had entered into a transaction, furnished an affidavit stating the OCBC Bank (in Singapore) had confirmed via email on January 24, 2018 the details of the money transfer. The high court was then informed that since it is a foreign transaction,
Reserve Bank of India clearance would take three days for actual realisation of funds.
Kulkarni also filed an affidavit accepting the responsibility of ensuring that Rs50 crore was deposited in his company's account at Bank of Baroda by February 1, 2018.
Special public prosecutor
Pravin Chavan told TOI on Monday, "The foreign client informed the court that the money transfer is held up owing to certain compliance issues. The client's company was listed in Singapore government's gazette on January 1, 2018 as due for a strike off (winding up) and the issue faced is whether such company can keep any liability or asset. The court then asked the (bail) applicants' lawyer as to how they intend to see that the money is deposited by the next hearing. Both the applicants have been asked to appear in person before the court on February 13."
Assistant commissioner of police Nilesh More, who is the investigating officer, said, "We have submitted an elaborate affidavit mentioning details of the forensic audit findings in relation to the transactions by the DSK companies and also how money has been diverted. The court has ordered DSK and his wife to cooperate with the investigators."
