Tuesday, August 13, 2019

Jailed Pune developer’s brother detained at Mumbai international airport

Pune: The authorities at the Chhatrapati Shivaji International Airport in Mumbai on Tuesday morning detained Makarand Kulkarni, brother of jailed developer Deepak Sakharam Kulkarni alias DSK, over a look-out circular the Pune police had issued against him in the alleged Rs 2,091 crore economic fraud by DSK and his group of firms.
Makarand (age 66 years) is a partner and promoter in various DSK firms and is among the five relatives of the developer who are named in the charge-sheets filed so far by the police, but have not been arrested yet.
“We received an alert around 10am from the Mumbai international airport authorities about Makarand Kulkarni’s detention at the airport while he was preparing to fly abroad,” additional commissioner of police (crime) Ashok Morale told TOI on Tuesday. “A Pune police team has left for Mumbai to bring him back and initiate the process for his formal arrest,” Morale said.
Assistant commissioner of police (crime) Shivaji Pawar, who is the officiating investigating officer, said, “Makarand Kulkarni was planning to fly to Dubai.”

The alleged economic fraud _ which came to the fore after one of the affected depositors of the DSK group lodged a complaint in October 2017 _ involves siphoning of funds raised through depositors; unsecured loans; secured loans from banks and financial institutions; non-convertible debentures; a questionable land deal at Phursungi on the eastern outskirts of Pune and money collected from home buyers in DSK’s various housing projects.
13/08/19 Viswas Kothari/Times of India
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