DS Kulkarni's 13 cars and bikes including Porsche, BMW to be auctioned: Court order

Court orders AUCTION of DS Kulkarni’s Porsche, BMW, MV Agusta & more

Deepak Sakharam Kulkarni, who is popularly known as DSK is facing criminal investigation. While he is currently in jail for siphoning off the investor funds and financial irregularities, a number of high-end cars and two-wheelers belonging to him were seized from various locations. We earlier reported how these high-end vehicles are gathering dust at a police station compound. A special court in Pune has now ordered the police to auction these vehicles.

Dsk Abandoned Cars

The special MPID court cleared the auction of 13 cars out of 46 vehicles that have been mentioned by the government notification. The cops seized 19 cars and bike last year and they were parked neglected at the police station parking. The money raised from the auctioning of the vehicles will be deposited with the court. The auctioning process will happen in the presence of a judicial magistrate. However, the exact date of the auctioning process is not known.

It should be noted that a total of 19 vehicles were seized by the police when various raids happened between February 26, 2018, and May 26, 2018. As per the police, the total value of the seized vehicles is about Rs 5 crore. Out of 19 vehicles, only 13 will be auctioned. The permission of auctioning the other six seized vehicles have not been granted due to another order by National Company Law Tribunal in an ongoing insolvency proceeding against DSK.

Dsk Abandoned Cars 2

The Porsche Cayenne seems to be the most expensive vehicle in the seized consignment. The Porsche and the MV Agusta superbike are registered to DSK’s son Shirish. Other cars like the BMW 6-Series, Toyota Camry and the Toyota Innova are registered to DSK’s wife, Hemanta. Only an older-generation Hyundai Santro and a Toyota Qualis are registered to DSK himself. There are other cars like four Toyota Innova and Etios that will be auctioned too. These vehicles belong to DS Kulkarni Developers Limited (DSKDL), which is the only listed company of the group.

The court ordered that these seized vehicles will have to be maintained by the police or have to be auctioned. The cops chose to auction the vehicles and recover the money. It should be noted that the vehicles are collectively valued at Rs 5 crore. However, looking at the condition of the vehicles at the police station, it seems like none of them will be able to sell for the expected value. DSK group has been allegedly created a fraud of Rs 2,091 crore. Currently, DSK, his son and his wife are in jail along with six other accused, who were arrested in the same case.

Dsk Vehicles

Meanwhile, Lawyer Shrikant Shivade said that the investigation agencies seized the vehicles with a deceitful intention and have parked them in the open grounds without any proper care. He also submitted that the prosecution is interested in selling these vehicles to the politicians at a scrap price. It should be noted that expensive logos of Porsche and other vehicles have been stolen according to the latest pictures.