Saifee Burhani Upliftment Trust won auction of Dawood Ibrahim's property

Saifee Burhani Upliftment Trust won auction of Dawood Ibrahim's property

Three properties belonging to fugitive underworld don and terrorist Dawood Ibrahim were auctioned on Tuesday for approximately Rs 11.06 crore. The auctioned properties of underworld don include Shabnam Guest House, six flats in Damarwala building and a restaurant Rounaq Afroz. The Ministry of Finance auctioned the property under Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976. The Damarwala property was bagged for Rs 3.53 crore and the Shabnam guest house fetched Rs 3.52 crore.

The hotel onPakmodia Street, along with two other of Ibrahim's properties, went under the hammer at the Indian Merchants' Chamber in Churchgate around 10 am. "Therefore, to ensure safety of the families living in these buildings and to carry on with redevelopment project, we participated in bidding and acquired these properties", the Saifee Burhani Upliftment Trust spokesperson said.

The Reserve price kept for present auction is Rs 1 crore 23 lakh, 43 thousand.

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

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The attempts to sell properties belonging to Dawood by administrators of SAFEMA had failed in 2015 as some of the bidders couldn't manage to pay the amount they had mentioned in the bid. Hence, the property was auctioned again today.

Balakrishnan had also claimed that he received a threat asking him to withdraw from the auction. This time the ministry sought security for the objective and increased the caution money from INR 15,000 to INR 1,00,000 for three properties.

This was done a week after the Thane Police slapped the Maharashtra Control of Organised Crime Act (MCOCA) on Dawood's brother Iqbal Ibrahim Kaskar.

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