Trust wins auction of Dawood's three properties


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 in Mumbai today. Another property in Dhamarwala was sold for Rs 3.53 crore and the third one - Shabnam Guest House - was auctioned at Rs 3.52 crore. Three properties of Dawood or Doud Ibrahim and main accused in the 1993 serial bomb blasts were auctioned at the Indian Merchant Chamber office by the Ministry of Finance, under the Smugglers and Foreign Exchange Manipulators (SAFEMA). The total reserve price of these three properties was Rs 3.95 crore and SBUT has acquired them for almost thrice the (reserve) amount at Rs 11.06 crore. All three properties fall under a 2 radar of Bhendi Bazaar, Dongri and Mohammad Ali Road that has been the operational area of Dawood for decades.

The three properties, which are described as decrepit and unfit for living, would be refurbished, said the Saifee Trust in a statement.

Shabnam Guest House is a two-storey building on Yakub Street, Bhendi Bazar. The six flats in Damarwala building were home to Dawood Ibrahim and his family members in the late eighties.

Ibrahim's close aide, Kaskar, after being released from jail was staying in this building and conducting operations of D Company.

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

The Reserve price now kept for the property Rs 1 crore 55 lakh 76 thousand.

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 is being auctioned again. The Reserve price kept for the property was Rs 1,18,63,000.