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3 Dawood properties auctioned in Mumbai

DNMUM400858 | 11/15/2017 | Author : DNA Correspondent | WC :378 | Mumbai



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).
Senior SAFEMA official P Selvaganesh said, “All the three properties have been sold out to SBUT. There was active participation in every property.”
He added that over 6 to 7 persons were bidding for each property.
The reserve price for the three properties in Bhendi Bazaar - Shabnam Guest House, Damarwala building and a
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