DSK Fraud Case: Prosecution Seeks Auction Of 131 Properties To Repay ₹610 Crore To 11,102 Investors

Mumbai, August 20, 2026 - The prosecution has requested the court's permission to auction 131 properties owned by companies associated with the DSK group, in an effort to recover funds for 11,102 investors who lost a collective ¥610 crore in various DSK schemes. Special Public Prosecutor Shishir Hire has submitted a motion to make the attachment of these properties absolute, allowing for their eventual auction.

The funds from the auction would be used to settle the investors' claims, as the responsibility for recovering the invested money lies with the competent authorities and the Crime Branch. The prosecution alleges that the DSK group falsely promised high returns on fixed deposits and unsecured loans between 2006 and 2017, collecting a total of ₹1,129 crore from the public.

Of the 59 companies involved, 323 properties belong to Deepak Kulkarni Developers Limited (DSKDL), which is currently undergoing a Corporate Insolvency Resolution Process (CIRP). The prosecution has no objection to releasing these 323 properties for the CIRP to clear debts owed to other creditors. However, the DSK group's legal team has opposed the auction, arguing that the application is not filed by the Competent Authority and that the necessary provisions of the special MPID Act are not being followed.