Deposit Rs 51 crore by Jan 25: Bombay High Court to DSK Group
Deposit Rs 51 crore by Jan 25: Bombay High Court to DSK Group
The Bombay High Court on Monday gave the DSK Group the last chance to deposit Rs 51 crore by January 25 after it showed some “bonafide” by submitting documents in court showing that the process of transferring money from a foreign bank to the account of another company headed by the developer has been initiated. The group had failed to deposit Rs 50 crore with the court registrar, in compliance with earlier court orders, leading to protection from arrest for the developer and his wife lapsing. They approached the Supreme Court on December 22, which granted an extension of four weeks for depositing the money. On Monday, Senior Counsel Ashok Mundargi, appearing for the DSK Group, informed the court that the process of transferring 80 lakh USD had been initiated on January 17 but it would take 72 hours to be credited to the beneficiary account. He submitted some documents in this regard. The amount would be equivalent to Rs 51 crore. “The time for depositing the amount with the court registrar is extended till January 25, by way of a last chance,” said Justice S Jadhav. Mundargi said the money was to be transferred to a Bank of Baroda branch in Pune. “The Special Public Prosecutor shall verify with the bank if it has received any correspondence with regard to such a transaction,” said the court. Justice S Jadhav granted protection from arrest to developer Deepak Sakharam Kulkarni and his wife Hemanti of the DSK Group till January 25. They accused of cheating 2,774 investors to the tune of Rs 200 crore.