Vide its order dated July 16, 2026, the Supreme Court of India directed the restoration of 14 residential flats—which had been attached in the case against M/s DSK Southern Projects Private Limited and others—to the successful resolution applicant. The market value of these flats is approximately ₹70 crore. Restoring the flats to the rightful claimant marks a significant step in the ED’s sustained efforts to return the ‘Proceeds of Crime’ (POC) to the affected parties.
ED restitution of 14 residential flats in DSK Group case
The Enforcement Directorate (ED), Mumbai Zonal Office, has successfully reinstated 14 residential flats in favor of the resolution applicant in a case registered under the Prevention of Money Laundering Act (PMLA) against M/s DSK Southern Projects Private Limited and others. The market value of these flats is approximately ₹70 crore.
This reinstatement is in compliance with the order dated 16.07.2026 passed by the Hon’ble Supreme Court of India under the second proviso to Section 8(8) of the Prevention of Money Laundering Act, 2002 (PMLA). The possession of 14 flats located in “Mantri DSK Pinnacle” located at Hulimavu Village, Begur Hobli, Bengaluru was handed over by the ED on 14.08.2026.
The ED investigation stemmed from an FIR filed by the Pune Economic Offences Wing (EOW) against Deepak Sakharam Kulkarni of the DSK Group and others. The investigation, conducted under the PMLA, revealed the diversion and layering of funds raised from investors through fake deposit schemes. The proceeds of crime were estimated to be approximately ₹1,129 crore.
During the investigation, the ED provisionally attached assets worth approximately ₹904 crore through a Provisional Attachment Order (PAO) dated 14.02.2019. The said attachment was subsequently confirmed by the Adjudicating Authority under the PMLA and a prosecution complaint was filed before the Hon’ble Special Court for Immigration and Immigration Laws (PMLA) at Mumbai, which was taken cognizance of by the Court.
Radhika Goyal is Author of Taxconcept Gurugram head office, for deeply reported tax, gst and income tax articles on issues that matter. He splits her time between New Delhi and Bengaluru, and has worked as a reporter, a podcaster and an editor for publications across India.