Pune-based real estate developer DS Kulkarni and his wife are already in custody over a Rs 2,043 crore fraud case.
Nearly four months after the arrest of Pune-based real estate developer DS Kulkarni in a Rs 2,043 crore fraud case, his son Shirish, also a co-accused, surrendered before the court in Pune on Monday.
While DS Kulkarni is in the magisterial custody, his son had approached the Supreme Court with a special leave petition after his anticipatory bail was rejected by the Bombay High Court. Even in the Supreme Court, he did not get any relief as the court rejected his plea and gave him one week's time to surrender.
The deadline for Kulkarni to surrender was ending on Monday. In the evening he came to the court and surrendered. The team of Economic Offence Wing (EOW) of Pune police arrested him and he has been sent to seven days police custody till July 2. DS Kulkarni and his wife Hemanti are already behind bars. The couple was arrested from Delhi in February this year. Later Kulkarni's son in law and three other relatives were also arrested.
Apart from arrests of Kulkarni and his relatives, police have also arrested six other persons including Ravindra Marathe, the managing director of the Bank of Maharashtra.
Earlier in the day, before the arrest of Kulkarni, bail plea of Marathe was heard in the court where defence counsel raised question mark over his arrest. While arguing, defence counsel Harshad Nimbalkar said, "Marathe's arrest by Pune police is illegal. He being the CMD of a nationalised bank, has a rank of secretary of the Government of India and as per the rule, before taking action against him, police should have taken permission from RBI which they did not."
"The depositors invested money with DSK and he was supposed to repay them. The bank had no role in it and therefore, the sections under Maharashtra Protection of Interest of Depositors do not apply against the bank officials. Since the bank has no role in the deal between DSK and depositors, the other charges of cheating, criminal breach of trust and forgery also do not apply against them. The bank had given him the loan by following the proper procedure. Therefore, the police should not have taken action against the bank officials," Nimbalkar argued.
Even the prosecution told the court that the police have completed the investigation of Marathe and they will not seek an extension of Marathe's police custody. The decision on Marathe's bail is scheduled on Tuesday.
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 "File photo of Shirish Kulkarni")
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