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

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Saifee Burhani Upliftment Trust has won the auction for three properties of Dawood Ibrahim. The Ministry of Finance auctioned the property under Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976.

Saifee Burhani Upliftment Trust Spokesperson said, "The trust won the auction for Shabnam Guest House, six flats in Damarwala building and a restaurant Rounaq Afroz."

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

This is the second time in two years the ministry auctioned Dawood's properties which include Hotel Raunaq Afroz-also known as Delhi Zaika- Shabnam Guest House and six rooms in Damarwala building, on Pakmodia Street. It increased the caution money from Rs 15,000 to Rs 1 lakh for three properties and said if someone creates a ruckus, the amount will be forfeited.

These properties could not be auctioned in 2015. In 2015, Hotel Rounak Afroz had gone under the hammer for 4.28 crore. However, the bidder could not arrange the bid amount then. A junked car was also auctioned for 32,000, which was later set ablaze and disposed of.

The tender advertisement stated that the sealed tenders in the prescribed tender form must reach the office of the competent authority, SAFEMA on or before November 10 by 4 pm. Public auction participation form along with the EMD and refundable caution money deposit (CMD) of 15,000.

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