Published: Tue, November 14, 2017
Worldwide | By Isabel Fisher

Dawood Ibrahim's 3 properties auctioned for Rs 11 cr

Dawood Ibrahim's 3 properties auctioned for Rs 11 cr

The Saifee Burhani Upliftment Trust had made the highest bid of around Rs 11.5 crore for the three properties.

The trust, run by the Bohra community, won bids for the three properties which includes two residences - six rooms of the Damarwala building and the Shabnam guest house - and a restaurant in Bhendi Bazaar named Hotel Raunaq Afroz (also known as Delhi Zaika). The Damarwala property was sold for Rs 3.53 crore while Shabnam fetched a price of Rs 3.52 crore. The Creaky building is not safe for the people living around them SBUT participated in the auction says the spokesperson.

The reserve price for the three properties are Rs 1.21 crore, Rs 1.55 crore and Rs 1.18 crore respectively.

The bidders for the auction also included the Hindu Mahasabha. Security personnel from the Marine Drive police station in large number have been deployed outside the IMC building, located near the Churchgate railway station, where auction process is underway.

Dawood Ibrahim is now in Pakistan.

In the advertisement, the government listed five properties, of which two belong to the underworld don. The six flats in Damarwala building were home to Dawood Ibrahim and his family members in the late eighties.

Sources said that the properties are liksely to be auctioned through three methods - the sealed tender, public auction and e-auction. In 2015, Hotel Rounak Afroz had gone under the hammer for 4.28 crore.

The auction was ordered by the Ministry of Finance under SAFEMA (Smugglers and Foreign Exchange Manipulators) Forfeiture of Properties Act. However, the property went in for re-auction, as Balakrishnan, could not cough up R4.28 crore he'd won the property for.

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