MUMBAI: Bombay high court granted bail to Kedar Vanjpe, son-in-law of the jailed real estate developer Deepak Sakharam Kulkarni, in connection with Rs 2,043 crore cheating case.
Kedar was arrested in May 2018 and has been lodged in the Yerawada Central Prison since then.
It was alleged against Kedar that while he was executive director of DSK Company at that time, lands at Fursungi, Pune were bought from farmers at cheap rates and subsequently they were sold at inflated rates.
Adv. Aniket Nikam, counsel for Kedar vanjpe, denied before the high court his alleged involvement in accepting deposits from the depositors. None of the depositors implicate his client. None of the witnesses attribute any role of accepting deposits to Kedar. The provisions of MPID Act are not applicable to the Applicant as he is not involved in giving any representations to the depositors. Nikam further argued that no lands at Fursungi were bought in the name of Kedar nor any money credited to his account of from the sale of lands at Fursungi.
The bench of Justice Nitin Sambre accepting the submissions granted bail to Kedar Vanjpe after observing that there is hardly any material to infer that at any time the applicant had lured investors to deposit money with the customers.
Kedar is the first executive director of the company to get bail from the high court.
Source: https://timesofindia.indiatimes.com/city/mumbai/cheating-case-ds-kulkarnis-son-in-law-gets-bail-from-bombay-hc/articleshow/88508345.cms
