Bombay High Court revokes relief from arrest granted to D S Kulkarni, wife

“I was warning your manager (of Buldana Bank) that the court finds it difficult to trust this man,” the court said. The court further said it was given a hope of Rs 12 crore and 100 crore (to be paid to investors). “I should have rejected the anticipatory bail on the day when he was here but the court had a ray of hope,” the court said. The court, which had expected the DSK Group to return the investors’ money, said, “Don’t trust a man who can play with the court. I am sorry that we had trusted this man and the investors had faith in him. I feel sorry that SPP Chavan told me so many times that money could not come but we had hope from this man.”

The Buldana Bank said the bank had not carried out a title search of any property of Kulkarni. The meeting for taking the liability of Kulkarni was to be conducted on February 16 and 17. Calling the process lengthy and time consuming, the court said the accused may take advantage of that. The experience the court said it had from January 22, is that the Kulkarnis are buying time. “Their conduct speaks for itself,” the court observed. The court also said that time and again, the investors were losing trust. The accused cannot take for granted the court and the vulnerable investors who invested their hard-earned money. The court in the above view, passed an order vacating the interim relief granted to Kulkarni and his wife.

The court called for lawyers representing the Union of India and asked them to inform the passport authority and also aviation officials so that he does not flee the country. The court said it is passing the order after reading up on ‘how people flee the country.’ Justice S S Jadhav said, “We don’t know whether he has only one passport.” The court has also issued notice against Prabhune (Prabhune International Pvt Ltd, the Singapore based company supposed to transfer money to DSK) and sought an explanation why it should not be prosecuted for perjury.