Bombay High Court Discharges Former DSKDL Executive In DS Kulkarni Financial Fraud Case
The Bombay High Court has discharged former D.S. Kulkarni Developers executive Kedar Prakash Vanjape from criminal charges in the financial fraud case. The court noted that he had resigned in August 2009, before DSKDL began accepting public deposits in January 2010, and found no prima facie evidence linking him to the alleged fraud or conspiracy.
Former DSKDL Vice-President Kedar Prakash Vanjape has been cleared of criminal charges in the D.S. Kulkarni financial fraud case | File photo
Mumbai, September 28, 2026: The Bombay High Court has discharged Kedar Prakash Vanjape, former Vice-President of D.S. Kulkarni Developers Ltd. (DSKDL), from all criminal charges in the high-profile D.S. Kulkarni financial fraud case.
High Court Sets Aside Earlier Order
Justice Shivkumar Dige set aside an earlier order by the Special MPID Court in Pune that had rejected Vanjape’s discharge application. The court cleared him of all offences under the Indian Penal Code (IPC) and the Maharashtra Protection of Interest of Depositors (MPID) Act.
The HC was hearing a plea by Vanjape, through advocates Sandesh More and Hitendra Gandhi, challenging the Pune court’s order.
The court noted that Vanjape had resigned as Vice-President of the company’s engineering department in August 2009. Investigation reports and witness statements revealed that the group began accepting public deposits in January 2010—months after Vanjape had already severed ties with the firm.
Justice Dige observed that he was not an employee when the deposits were collected and could not be considered part of any conspiracy or fraudulent schemes.
Court Examines Fursungi Land Transaction
Addressing allegations regarding a land transaction at Fursungi, Pune — where Vanjape's wife (niece of main accused D.S. Kulkarni) bought land and resold it to DSKDL — the court emphasised that the purchase was approved by DSKDL's Board of Directors. Justice Dige highlighted that Vanjape was merely a salaried employee and held no decision-making power over board resolutions.
The court further ruled that criminal liability is personal in nature and cannot be imposed simply because of marriage, past employment, or family relationships without evidence showing direct personal involvement.
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No Prima Facie Case Established
Observing that continuing the legal proceedings against Vanjape would be an abuse of the court process, the High Court granted full discharge, concluding that no prima facie case was established against him.
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