Monday, 10 December 2018
Latest news
Main » Saifee Burhani Upliftment Trust won auction of Dawood Ibrahim's property

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

15 November 2017

Advocate Bhardwaj, who practises in the Supreme Court, said, "I came here to participate in the auction and wanted to buy Dawood Ibrahim's properties".

Mumbai: Three south Mumbai properties of fugitive gangster Dawood Ibrahim were bought by the Saifee Burhani Upliftment Trust (SBUT) for Rs 11.58 crore in an auction conducted by officials of a Union finance ministry authority, SAFEMA (Smugglers and Foreign Exchange Manipulators Forfeiture of Property Act) on Tuesday.

The reserve price for the three properties in Bhendi Bazaar - Shabnam Guest House, Damarwala building and a restaurant Raunaq Afroz were Rs 1.21 crore, Rs 1.55 crore and Rs 1.18 crore respectively. Out of the six, SBUT was the highest bidder. The Damarwala property was sold for Rs 3.53 crore while Shabnam fetched a price of Rs 3.52 crore.

"Yes. We submitted bids and have won the auction for the three properties which fall within the redevelopment jurisdiction of the SBUT".

The Trust was established by the Late Dr. Syedna Mohammed Burhanuddin (RA) to undertake the redevelopment of one of India's most vibrant but congested locality popularly known as "Bhendi Bazaar". These buildings are dilapidated and unfit for living. It was also made clear that the caution money would be forfeited if a bidder created trouble at the auction. His earnest money was later confiscated by the government. That time Desh Seva Samiti, an NGO, won the bid but could not raise the entire amount, hence the property was put up for auction again. Officials said Iqbal Kaskar had provided the addresses of four residences belonging to Dawood Ibrahim in Karachi.

The first and third floor apartments in Damarwala building is Dawood's ancestral property, where he stayed with this family before fleeing the country in 1986. The corner of the property still has some old furniture that used to once adorn Dawood's Rounaq Afroz hotel. Dawood purchased it when he took over Mastan's smuggling empire and renamed it Hotel Delhi Zaika.

In the advertisement, the government listed five properties, of which two belong to the underworld don. Even now, security remains a major concern.

"SBUT had participated in the auction through all the three means, e-auction, public auction and tender in sealed envelope".

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