Thursday, 18 October, 2018

Dawood Ibrahim's properties auctioned for Rs 11.58 crores

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Melinda Barton | 14 November, 2017, 15:54

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

The Finance Ministry had auctioned the assets under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act-SAFEMA. The trust won the auction for the Shabnam Guest House, six flats in Damarwala building and a restaurant Rounaq Afroz, said a spokesperson of the Saifee Burhani Upliftment Trust. A second property in Damarwala was sold for Rs 3.53 crore while Shabnam Guest House fetched a price of Rs 3.52 crore.

In December 2015, Balakrishnan, through his NGO Desh Seva Samiti, had participated in an auction of properties belonging to underworld don Dawood Ibrahim.

"The Damarwala building near Bhindi Bazaar, the old residence of Dawood until he fled was bought by Amina Bi, Dawood's mother, and Kaskar from from Abdul Hussain Damarwala in the 1980's,"said a tenant". He also lost Rs 30 lakh he had given as deposit for the auction. He allegedly lived there with this family before leaving the country in 1986. Dawood purchased it when he took over Mastan's smuggling empire and renamed it Hotel Delhi Zaika. Even now, security remains a major concern. However, the property went in for re-auction, as Balakrishnan, could not cough up R4.28 crore he'd won the property for.

Sources said that the properties are liksely to be auctioned through three methods - the sealed tender, public auction and e-auction. During the previous auction, though, Swami Chakrapani had bought a vehicle belonging to Dawood Ibrahim for Rs 32,000 and set it on fire it on the outskirts of Delhi. However, the bidder could not arrange the bid amount then.