Pune: Allegations Fly as D.S. Kulkarni Developers Limited Faces Acquisition and Financial Woes

Pune: D.S. Kulkarni Developers Limited finds itself embroiled in controversy as allegations of property acquisition and financial mismanagement surface. The company, once a prominent player in the real estate sector, was reportedly purchased by four Pune-based builders at a significantly lower price. DSK Kulkarni himself has levelled serious accusations, claiming that the buyers are refusing to refund depositors’ money.

According to DSK, his properties valued at a staggering Rs 16,000 crore were acquired for a mere Rs 826 crore by V. T. Parlesha, Jayant Shah, Ashok Chordia, and Pramod Ranka through the National Company Law Tribunal (NCLT) route. DSK contested this acquisition in the Supreme Court, leading to an extension of the ban on property sales until May 10.

Meanwhile, DSK revealed his dire financial situation, stating that all his assets and bank accounts have been frozen, leaving him with nothing but the clothes on his back. With his hands tied, he questions how he can fulfil the demands of the 32 thousand depositors who sought refunds in 2017. Despite his predicament, DSK maintains his innocence, affirming, “I have never lied in my life,” and accusing certain individuals of unlawfully seizing his land.

Disputing claims of bankruptcy, DSK expresses a desire to repay investors, asserting that given more time, he could have resolved the issues. However, he laments the abrupt freezing of his bank accounts before his arrest, which left him unable to meet financial obligations. Feeling aggrieved, DSK reflects on the unfavourable outcomes he faced, indicating a sense of injustice in the proceedings against him.