Published: Tue, November 14, 2017
World | By Paul Elliott

Dawood Ibrahim's 3 properties auctioned for Rs 11 cr

Dawood Ibrahim's 3 properties auctioned for Rs 11 cr

Two weeks after mid-day first reported that Saifee Burhani Upliftment Trust (SBUT) was eyeing underworld don Dawood Ibrahim's Bhendi Bazaar property, Hotel Raunaq Afroz, which was up for re-auction this morning, sources confirmed that the trust is one of the three bidders. The auctioned properties of underworld don include Shabnam Guest House, six flats in Damarwala building and a restaurant Rounaq Afroz.

The properties were put on auction by the ministry of finance, under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act. The Creaky building is not safe for the people living around them SBUT participated in the auction says the spokesperson.

Saifee Burhani Upliftment Trust had bid the maximum amount for all the three properties.

Summary: The reserve price for the three properties are Rs 1.21 crore, Rs 1.55 crore and Rs 1.18 crore respectively. Dawood purchased it when he took over Mastan's smuggling empire and renamed it Hotel Delhi Zaika. The six flats in Damarwala building were home to Dawood Ibrahim and his family members in the late eighties. He allegedly lived there with this family before leaving the country in 1986.

The Appellate Tribunal for Forfeited Property had cleared the takeover of the properties by the government under the provisions of SAFEMA and this cleared the deck for auction.

Cops stand guard outside Indian Merchants' Chamber, where Dawood Ibrahim's properties went under the hammer this morning.

A senior official from the Revenue Department, who did not wish to be named, said, "The acquisition and auction of the properties have always been hard tasks".

Hence, the property is being auctioned again.

Reports suggest the Rounaq Afroz restaurant was auctioned for Rs 4.53 crore.

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