World

Auction process for Dawood Ibrahim properties begin

Auction process for Dawood Ibrahim properties begin

Three properties belonging to fugitive underworld don Dawood Ibrahim were sold to the Saifee Burhani Upliftment Trust (SBUT) for over Rs 11 crore at an auction at the Indian Merchant Chamber office today in Mumbai.

The three properties are Hotel Raunaq Afroz, also known as Delhi Zaika, Shabnam Guest House and six rooms in Damarwala building. A second property in Damarwala was sold for Rs 3.53 crore while Shabnam Guest House fetched a price of Rs 3.52 crore.

"These buildings are in dilapidated condition and unfit for living. Thereafter, to ensure the safety of the families living in these buildings and to carry on the redevelopment project, we participated in the bidding and acquired these properties", a SBUT spokesperson said. The Reserve price kept for the property was Rs 1,55,76,000.

These properties could not be auctioned in 2015.




His brother Iqbal has reportedly provided Dawood's addresses in Karachi.

A Thane-based builder was allegedly forced to pay Rs 30 lakh and four flats to Iqbal Kaskar's gang. The Appellate Tribunal for Forfeited Property, however, had dismissed the appeals under SAFEMA.

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". After that, his properties were seized under SAFEMA (Smuggling and Foreign Exchange Manipulation ACT).

Reports suggest the Rounaq Afroz restaurant was auctioned for Rs 4.53 crore. During the previous auction, though, Swami Chakrapani had bought a auto belonging to Dawood Ibrahim for Rs 32,000 and set it on fire it on the outskirts of Delhi. Veteran journalist S Balakrishnan had a;sp bid for the hotel in 2015, but he failed to arrange the funds.