1. Dawood Ibrahim properties in Mumbai: In auction, government sells off 3 assets; all details here

Dawood Ibrahim properties in Mumbai: In auction, government sells off 3 assets; all details here

Three Dawood Ibrahim's properties on Tuesday were auctioned. The Saifi Burhani Upliftment Trust (SBUT) won the bid for all three properties which are located in South Mumbai.

By: | New Delhi | Updated: November 14, 2017 2:41 PM
Dawood Ibrahim. (Indian Express)

Three Dawood Ibrahim’s properties on Tuesday were auctioned. The Saifi Burhani Upliftment Trust (SBUT) won the bid for all three properties which are located in South Mumbai. Notably, the properties were put on auction by the Ministry of Finance. The buildings that were up for auctions include Dawood Ibrahim’s Hotel Raunaq Afroz, Shabnam Guest House, 5 rooms in Dambarwala building. SBUT won the bid for Rs 9 crore, as per ABP News. The auction was carried out by the Smugglers and Foreign Exchange Manipulators (SAFEMA) Forfeiture of Properties Act, at the IMC Chamber of Commerce and Industry in Churchgate.

The Mumbai office of SAFEMA was flooded with queries from prospective buyers who planned to bid for the three properties of the gangster, which also included bidders of Hindu Maha Sabha and a council of the Supreme Court. Last week, officials of SAFEMA arranged for a physical inspection of the three premises. The prospective bidders were allowed to examine the properties up for sale between 11 am and 1 pm. In January 2017, the Appellate Tribunal for Forfeited Property had given the nod for government’s move to takeover Dawood’s properties under the provisions of SAFEMA.

Ealier in December 2015, the government had appointed a private firm to conduct the auction under the SAFEMA Act, 1976. Seven properties including four agricultural plots in Daman, Hotel Rounaq Afroz, tenancy rights on a flat in Mahavir building in Matunga were put up for auction.

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