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Thread: Dawood’s properties sold for Rs 11.58 cr .

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    Default Dawood’s properties sold for Rs 11.58 cr .


    Agencies, Mumbai
    Three properties belonging to fugitive underworld don Dawood Ibrahim were sold to the Saifee Burhani Upliftment Trust (SBUT) for Rs 11.58 crore at an auction here on Tuesday.
    A Smuggling and Foreign Exchange Manipulators (Forfeiture of Property) Act (SAFEMA) official has confirmed that the three properties, including a restaurant in Bhendi Bazar, were sold to the SBUT at the auction at the Indian Merchant Chamber office.
    The Raunaq Afroz hotel attracted a bid of Rs 4.53 crore, Shabnam Guest house for Rs 3.52 crore while Rs 3.54 crore for the rooms in the Damarwala building.
    The properties of Ibrahim were put on auction by the ministry of finance under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act.
    All the three properties have been bought by Saifee Burhani Upliftment Trust, the highest bidder in the auction.

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