Dawood Ibrahim's three properties sold to trust for Rs 11.5 crore

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The Saifee Burhani Upliftment Trust (SBUT) on Monday has reportedly bought three assets belonging to Fugitive Dawood Ibrahim in Mumbai. Reportedly the Rounaq Afroz restaurant located in bhindi bazaar which is also known as Delhi Zaika was sold for Rs 4.53 crore and property in Damarwala was sold for Rs 3.53 crore while Shabnam Guest House sold in Rs 3.52 crore to SBUT. The Damarwala property was bagged for Rs 3.53 crore and the Shabnam guest house fetched Rs 3.52 crore. All these three buildings are in a dilapidated condition.

The Raunaq hotel is said to be among the first properties purchased by Dawood after he took control of his smuggling business.

The auctioned properties include Damarwala building near Bhendi Bazar where Dawood's younger brother, Iqbal Kaskar, resided till recently.

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The Appellate Tribunal for Forfeited Property had cleared the takeover of the properties by the government under the provisions of SAFEMA and this cleared the deck for auction. Even now, security remains a major concern.

Sources said that the properties are liksely to be auctioned through three methods - the sealed tender, public auction and e-auction. "However, it could not succeed back then".

Ronak Afroz restaurant went under hammer in 2015.

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The auction was ordered by the Ministry of Finance under SAFEMA (Smugglers and Foreign Exchange Manipulators) Forfeiture of Properties Act. However, there was no response to the auction on previous occasions.

Damarwala building was home to Dawood Ibrahim and his family members in late eighties.

He also wanted to acquire Hotel Raunak Afroz to build a toilet there, to spread the message that how terrorism ends. However, the bidder could not arrange the bid amount then.

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