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Three properties of Dawood auctioned in Mumbai

DNDEL11673 | 11/15/2017 | Author : DNA Correspondent | WC :285



Mumbai: Three properties in south Mumbai that belonged to fugitive gangster Dawood Ibrahim went under the hammer on Tuesday, and were sold to the Saifee Burhani Upliftment Trust (SBUT) which has an ongoing redevelopment project in the Bhendi Bazaar area. The properties were auctioned by the Ministry of Finance, under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act (SFEMA).
SAFEMA official P Selvaganesh said, “All the three properties of Dawood Ibrahim have been sold out to SBUT. There was active participation of bidders in every property and over 6 to 7 persons were bidding for each.”
The reserve price for the three properties in Bhendi Bazaar - Shabnam Guest House, Damarwala building and a restaurant R
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