British Asian business community in London was shocked to hear the news about the bankruptcy of Deepak Kuntawala aka DK of DVK Group
DK is known for his purple jacket and tall claims. The self-proclaimed hero ‘rescued’ over 150 Taj residents from the clutches of death by using bed sheets as rope! He even organised an event at Kensington Palace in London to raise funds to help Mumbai terror victims. It was attended by Bollywood stars, members of House of Lords, and even Prince Michael of Kent, Queen’s cousin.
DK runs several companies offering financing services to businesses and individuals, venture capitalists, etc. But he was sued by Mr Jitesh Patel seeking £3.8 million. The court ordered a bankruptcy verdict on the self-employed businessman.
There are many dream projects DK presented to the Indian business community in London. A Shari’ah investment fund for Saudi Arabia and other Middle Eastern countries; key infrastructure projects in the Gulf Region and China, private equity transactions in Russia and various parts of Africa besides an aviation company. The DVK website said the aviation wing has an exclusive mandate to expand its aviation cargo business in the Middle East, especially within the Kingdom of Saudi Arabia and other Gulf States, CIS region and Africa. The company will also increase its acquisition of private jet businesses, aircraft, and develop new markets in the Gulf region.
In addition, Deepak personally is in discussions with heads of Qatar to launch a Shari’ah Investment Fund which will be aimed solely at ladies in the Middle East!