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Home News Reports Modi govt's crackdown on D-company : Another Dawood property to be auctioned in Mumbai

Modi govt’s crackdown on D-company : Another Dawood property to be auctioned in Mumbai

Another one of Dawood Ibrahim’s properties is to be auctioned soon in Mumbai. According to reports, a building located in Pakmodia street, Bhindi Bazar, Mumbai is set to be auctioned on August 9. The auction will be held by the Ministry of Finance under the Smugglers and Foreign Exchange Manipulator’s Act (SAFEMA). The reserve price of the building has reportedly been set at Rs 79.43 lakh.

This will reportedly be the fourth property belonging to fugitive terrorist Dawood Ibrahim auctioned by the government of India. Previously, 3 of Dawood’s properties, namely Shabnam Guesthouse, Damarwala Building and Hotel Rounaq Afroz has been auctioned by the Ministry under the SAFEMA.

courtesy: Business Today

The building to be auctioned on August 9 is known as Masulla Building (C.S. No. 4275). Its located at 24/26 Pakmodia Street and reportedly belongs to Dawood’s family. The earnest money deposit for the auction is set at Rs 25 lakh which will be needed to be deposited by August 6th. E-auction, public auction and sealed tenders will be accepted and on 9th August the building will be auctioned at YB Chavan auditorium between 9-12 AM.

In a SAFEMA advertisement, a total of 9 properties located at Mumbai, Aurangabad, Valsad, Daman, Surat and Ahmedabad are reportedly being put for auction. Of these, only 1 property belongs to Dawood.

According to reports, the Saifee Burhani Upliftment Trust (SBUT) has bought the previous three properties of Dawood Ibrahim through SAFEMA. It had bought the 3 properties through the highest bid of 11.50 crores. Even this time around, the SBUT is expected to be the front-runner among the bidders. It is reported that the SAFEMA is expecting to earn around Rs 2 to 3 crores by this auction. The Masulla building has ground plus four stories and is in a considerably better condition than the previous buildings sold.

On April 20 this year, the Supreme Court of India had ordered the Indian government to seize all the properties belonging to the fugitive terrorist Dawood Ibrahim. Dismissing a plea filed by Dawood’s family in Mumbai against the attachment of his properties, the apex court had ordered the Indian government to seize and sell all properties of the former mafia don who is one of the main accused in 1993 serial blasts case.

Dawood’s underworld enterprise, known as the D-company had acquired massive wealth in many countries including the middle east and UK. Members linked to his gang still run a number of illegal businesses in India and Pakistan. In April this year, an aide of Dawood was arrested for plotting to murder the Shia board chairman Wasim Rizvi. His associates are also involved in several betting and other such illegal businesses.

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Staff reporter at OpIndia

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