After the interim was lifted on Thursday, Economic Offences Wing (EOW) of the Pune police formed four teams to trace Kulkarni, popularly known as DSK.
After the Bombay High Court lifted the interim protection from arrest to Pune-based real estate developer DS Kulkarni, the Pune police arrested him and his wife Hemanti from Delhi on Friday. After bringing them back to Pune, the couple was produced before a court which sent both to police custody for seven days.
After his interim bail plea was rejected by the sessions court in Pune, Kulkarni had approached the Bombay High Court for the interim bail, which was granted. After the interim was lifted on Thursday, Economic Offences Wing (EOW) of the Pune police formed four teams to trace Kulkarni, popularly known as DSK. He and his wife were arrested from a Delhi hotel.
The couple was brought to Pune on Friday evening and around 7 pm, they were produced before the special judge for MPID Act JT Utpat. While seeking 10-day police custody for the couple, special public prosecutor Pravin Chavan argued that DSK collected Rs 1153.76 crore through public deposits and unsecured loans which he diverted to six partnership firms. "After diverting the money, Kulkarni further diverted the amount to the accounts of his wife and son. Police need to investigate where that money has gone," Chavan argued.
Chavan further argued, "Apart taking money from depositors, Kulkarni took loans amounting to Rs 2,892 crore for his projects, but never completed them. Police need to investigate where the loan amount has gone and hence need him and his wife in custody for ten days."
Defence lawyer Shrikant Shivade stated they were not opposing the police custody but requested the court to reduce the custody period from 10 days to seven.
"We have not lost our hearts. Whether Kulkarni gets bail or not, they are committed to deposit money in the court," Shivade said.
"Assets of Kulkarni are three times more than his liabilities and unlike other accused, Kulkarni has submitted his passport to the police long back. He will give back all the money," Shivade argued.
After hearing both sides, special judge Utpat remanded Kulkarni and his wife police custody till February 23.
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