The Bombay High Court on Thursday directed police to identify properties belonging to the DSK Group that can be sold to repay the amount the beleaguered Group owes its depositors. The court also extended the interim anticipatory bail of DSK Group chairman and real estate developer Deepak Sakharam Kulkarni and his wife Hemanti, who have been booked on charges of cheating thousands of investors of almost Rs 200 crore. Justice Ajey Gadkari of the Bombay High Court sought a proper scheme specifying the amount that would be recovered after the sale of the properties, and the concerned authority with whom the amount would be deposited. “Everything should be done within a reasonable time,” stated the court. The court order came on the same day Pune Police registered another case of cheating against 68-year-old Kulkarni, based on a complaint filed by a man who alleged that the company had failed to give him possession of two flats he had booked in a housing scheme, despite paying over Rs 90 lakh in advance. At the earlier hearing on November 10, the court had asked senior advocate Ashok Mundargi, who is representing the DSK Group, to indicate how the group proposed to repay its investors. On Thursday, Mundargi submitted an affidavit specifying their plan to pay those investors whose deposits had matured. The court also took note of the fact that many of the affected people in the case were senior citizens. “While you might be facing some difficulty, ultimately their interest has to be considered. Show us a scheme which is in the interest of the depositors,” said Justice Gadkari. Mundargi argued that if all of DSK Group properties were blocked, the group would not be able to raise money to pay back its investors. The senior counsel told the court that they would be able to sell property worth over Rs 300 crore, if allowed to do so. The public prosecutor, however, argued that the company had never received permission from the Reserve Bank of India to raise money. “It is not a company which is entitled to raise money,” he said, but the statement was countered by Mundargi. The court then observed, “Some upfront payment has to be given to the exchequer. It also extended the protection from arrest till next Thursday. Meanwhile, another investor, identified as 39-year-old Santosh Honkarpe, lodged a police complaint against Kulkarni. Police have booked Kulkarni and five officials of the DSK Group in this case under sections 406, 420, 120 (b), 34 of the Indian Penal Code and sections of the Maharashtra Ownership of Flats Act (MOFA). According to police, Honkarpe had booked two flats in his wife’s name in ‘DSK Anandghan’, housing scheme in December 2013, by paying a booking amount of Rs 2 lakh. Later, he paid Rs 90,29,279 in different installments, but he is yet to get possession of the two flats, as per the complaint. At a press conference in Pune on Tuesday, Kulkarni had strongly refuted charges of financial malpractices levied against him. He had claimed that his company was financially sound and had the capacity to repay all his pending dues. “If you take the assets of the construction group, it amounts to above Rs 9,000 crore, and our dues hardly stand at Rs 1,500 crore, and the total due for fixed deposit holders is Rs 589 crore… which is due in 2020. So, there is no question of not paying them,” he had said. Last week, an FIR was lodged at the Shivajinagar police station against Kulkarni and four directors of his company on charges of misappropriation of money, for allegedly not depositing the employees’ provident fund.