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Thursday, November 2, 2017

F D Holders rush to file complaints against DSK

Victims of DSK, register complaints at
Economic Offences Wing, Old CID Office,
near Sangam Bridge, Shivaji Nagar, Pune
11 am to 6 pm, Monday to Saturday

Hundreds of investors and depositors are filing complaints against DSK Group, its chief Deepak Sakharam (DS) Kulkarni, and his wife Hemanti for cheating and not refunding their money invested in the Group’s fixed deposit (FD) schemes.

Looking at the rush of investors eager to file complaint against DSK, the Police had to make special arrangement, like setting up extra desk to handle it.

Read more on MoneyLife.In - DSK Defaults: Investor, depositors rush to file complaints at Pune EOW

F D Holders rush to file complaints against DSK 1
F D Holders rush to file complaints against DSK 2
F D Holders rush to file complaints against DSK 3
F D Holders rush to file complaints against DSK 4

Abp Majha - पुणे : डीएसकेंविरोधात हजारो गुंतवणुकादारांची आर्थिक गुन्हे शाखेकडे तक्रार:

Tragic story of a 78 year old victim of DSK - D S Kulkarni Developers Ltd

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  1. What were T&C while signing contract notes with DSK? If business happens to go bankrupt, are FD holders eligible to receive their capital+interest? How much amount is insured in case of default? If DSK diverted funds for his personal interest, what is the procedure to retrieve FD holders' money?

    Filing case isn't going to be easy ride for people. The court case may go on for years while lawyers,police,dalals shall cream their hands & finally settlement may happen at certain price point like in Vijay Mallya case.

    1. Problem with FD investors is they didn't check the legality of the scheme which was not sanctioned by RBI & now that they are in soup, they have out of nowhere became active. This is what happens when you put money anywhere blindly just for more money than officially sanctioned investments.

  2. Sir,
    India is rated 164th out of 190 countries for 'Enforcing Contract' in world. (refer world banks website for 'Doing Business 2018' … http://www.doingbusiness.org/Rankings)… indicates how slowly our law and judiciary system works.

    After reading this blog series on DSK group, I was thinking, could the police complaint will recover the money in short time? Or there is any alternative way to resolve this issue?... and, at the same time I was thinking how to recover the investors money and retain this 40 years old business group?.

    I am sure Indian law will take appropriate recourse against the culprits & punish them in course of time.... but to my opinion the business must be survived to recover public / institutional funding, which is most important for social causes (as it will hit directly & indirectly on economy / employment) & most important on creditability of Pune real estate market.

    It is common in developed world a concept of ‘crowd funding’… similarly, can we start a concept of ‘crowd intelligence’?...as Pune was always ahead in world for such out-of-box movements.

    It is truly shivering to see the videos of helpless senior citizen weeping…

    Therefore, I hereby request & appeal the readers of this blog to take initiative to gather intelligent people from field to take out practical / intelligent solution to this problem through this wonderful and popular blog… else it will become a big social issue and can hit creditability of our Pune city in future.

    For last few centuries, Pune is always known in world as ‘City of intellects’, a ‘Safe City to do business’, ‘Oxford of the East’ etc etc and I am sure that we don’t want the city to be known as ‘City of scams & cheaters’.

    1. Crowd intelligence can't help greedy minds.

      "It is truly shivering to see the videos of helpless senior citizen weeping… "

      - Yes but lets not be emotional fools here & look at everything from sentimental perspective. There is a mess created by a crook, & he needs to be brought to justice by hook or crook. Straight & simple.
      If DSK is not able to influence the Police & EOW, it will indeed mean that EOW indeed made a good achievement, else we know how Sachin Chorwal fled in front of cops & Pride-Purple builders were untraceable for months !
      It's said out of picture, out of mind. This DSK crook needs to be thrown in jail for all his ills & this needs to be done even if media is not highlighting the issue.

      Btw, what is the stand taken on such sadak chap builder by Lashkar-e-CREDAI, MBVA etc ? Seems they too have taken their tail inside to help their crook brother in crime.

  3. EOW raids DSK’s residence and offices in Pune, Mumbai -


    EOW wants DSK’s property secured -

    The letter reads, "DSK has cheated us by giving no clarity about his investment scheme not being registered with the authorities. He also did not tell us that there was no permission from the Reserve Bank of India (RBI). We request you to order the police to form an SIT to investigate this. We hope a thorough inquiry of his companies and directors will be done, and we get our money back."


    What will you call such investors ? Ignorant, idiot, moron ? Before someone jumps on this comment, let us be absolutely clear that there is zero room for emotions when it comes to financial decisions. Only then you will have clear vision.

    DSK will not tell that his investment scheme was not sanctioned by authorities but were you a 2 year old kid that you still invested or did DSK put gun to your head & forced you to invest ? This is just like some chap buying a flat without looking at the sanctions & later when legal problem arises, out of sudden, the Devdas inside the buyer is awakened ! No doubt DSK is a crook but the investors are also equally responsible as they took the risk of having more returns in unapproved scheme. That's the price one pays for greed. Do you think so many people are idiots that they put money in say something like Post office FDs even if it has much lesser RoI than DSK FD ?

    And Ravi a small suggestion is to take interview of cops/EOW personnel rather than turning this into an emotionally driven Balaji telefilms type saas baahu videos. I appreciate your concern about the investors but we equally need to show their other side of the story also which is investment in unapproved scheme. Let's not be carried away by so called emotions.

    1. U hit the head of nail;no wonder in this country people still get fooled under schemes get your jewellery doubled or currency doubled types! The only way is people should be aware & a bit less greedy & under the law people like dsk may get punished but what about money lost, so better not to go for such FD schemes in first place. Monk, EOW/Cops are not allowed to speak with private bloggers not even with media when matter is under trial as well do u think they will be open enough to admit facts? Policing is the worst aspect in entire white collared crimes in this country as first they turn a blind eye on such high FD rate traps & later they act only for the party which will pay them & no need to tell which party is in position to pay!

  4. Lesson to learn
    Solvency of developers to be checked
    Wether investing in FD or buying property which is under construction
    Under construction is not advised to invest in current scenario where a correction is around corner


  5. http://www.hindustantimes.com/pune-news/dsk-de-coded-self-made-billionaire-pays-the-price-for-not-knowing-where-to-stop/story-tOBHAOWpdEbY6X4mSlqa4J.html