ED Restitutes 14 Flats Worth ₹70 Crore In DSK Group Money-Laundering Case

Mumbai, August 21, 2026: The Enforcement Directorate, Mumbai Zonal Office, has successfully restituted 14 residential flats to the Successful Resolution Applicant in a Prevention of Money Laundering Act (PMLA) case against DSK Southern Projects Pvt. Ltd. and others. The approximate market value of these restored properties stands at Rs 70 crore.

The flats, located at Mantri DSK Pinnacle in Hulimavu village, Begur Hobli, Bengaluru, were handed over by the ED on August 14. The restitution was carried out pursuant to an order passed by the Supreme Court on July 16 under the second proviso to Section 8(8) of the Prevention of Money Laundering Act (PMLA).

Money Laundering Probe

The ED's money laundering probe originated from First Information Reports (FIRs) registered by the Economic Offences Wing (EOW) in Pune against Deepak Sakharam Kulkarni and other key figures of the DSK Group.

According to the agency, its PMLA investigation found that funds mobilised from investors through allegedly fraudulent deposit schemes were diverted and layered. The proceeds of crime in the case were assessed at around Rs 1,129 crore.

During the investigation, the ED provisionally attached assets valued at approximately Rs 904 crore through a Provisional Attachment Order dated February 14, 2019. The attachment was subsequently confirmed by the Adjudicating Authority under the PMLA.

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Prosecution Complaint Filed

The agency later filed a prosecution complaint before the Special Court (PMLA), Mumbai, which took cognisance of the complaint.

The restitution of the Bengaluru properties follows the Supreme Court’s direction under Section 8(8) of the PMLA, enabling the properties to be handed over to the successful resolution applicant.

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