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Last Updated : Dec 11, 2019 08:16 PM IST | Source: Moneycontrol.com

ED attaches properties worth Rs 600 crore in connection with Iqbal Mirchi case

In a press release issued on December 11, the agency said Mirchi was an international drugs dealer and smuggler who had amassed huge wealth and acquired immovable properties and businesses across the globe.

The Enforcement Directorate (ED) has attached properties worth Rs 1,100 crore related to the family of late smuggler and drug trafficker Iqbal Mirchi on December 11.

The agency filed a chargesheet worth 12,000 pages for the case where it named 16 persons including Dheeraj Dhawan, non-executive director of Dewan Housing Finance, Mirchi's wife Hazara Menon and his two children.

Also read |  Iqbal Mirchi PMLA case: ED files charge sheet

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In a press release issued on December 11, the agency said Mirchi was an international drugs dealer and smuggler who had amassed huge wealth and acquired immovable properties and businesses across the globe.

After carrying out a detailed investigation under the Prevention of Money Laundering Act (PMLA), some of these properties held in India have been provisionally attached by the Directorate against two Provisional Attachment Orders. The market value of these properties is around Rs 600 crore.

In first Provisional Attachment Order, immovable properties valued at Rs 76.32 crore in 2010, have been provisionally attached. These properties include the 3rd and 4th Floor of CEEJAY House , Worli, Mumbai, an office premise at Arun Chambers, Tardeo, Mumbai, three flats in Sahil Bungalow, Worli, Mumbai, three prime commercial shops in Crawford Market, Mumbai and Bungalows and land greater than five acres in Lonawala. These properties were acquired by Iqbal Mirchi in the name of his family members and relatives.

As per release of ED "Investigation under PMLA revealed that Mirchi was indirectly owning various properties in and around Mumbai. His family is owning 14,000 sqft area of 3rd and 4th floor of Ceejay House, a 15 floor prime commercial property in Worli, Mumbai. This property was redeveloped by Millennium Developer Pvt Limited. Investigations also revealed that a certain part of plot was earlier in possession of one MK Mohammad. Iqbal Mirchi entered into an agreement with MK Mohammed for acquiring the rights in the property in the name of his wife Hajra Memon for Rs 9 lakh and the agreement was executed in 1986. Though payments of only Rs 20,000 was made in 1986, the possession of the property was taken by Iqbal Memon in 1986 itself and he started running a discotheque by the name of 'Fisherman’s Wharf'. Later on at the time of redevelopment, Mirchi was given 14,000 sqft on 3rd and 4th Floor of the newly constructed Ceejay House in Worli Area in the name of his wife Hajra Memon and sons."

The release further read, "Three flats in one more prime property, namely Sahil Bunglow were also acquired by Mirchi in the name of his relatives during the same period. In order to hide the criminal origin of the funds to acquire the properties, he purchased one flat each in the name of his wife Hajra Memon, sister Zaibunnisaa Mohd Memon and brother Aslam Merchant. The intentions became clear when Aslam Merchant gifted his and Zaibunnisaa Menon’s (as her heir) share of the property to his wife Hajra Memom and son Junaid Memon. The entire property is in possession of the family of Iqbal Memon. This property was purchased by Iqbal Memon from one Iqbal Doodhwala. The property in Lonawala was earlier in the name of Hajra Iqbal Memon. In year 2005, the ownership of the same was transferred without any consideration to M/s White Water Developers Limited, a company formed by Humayun Merchant, a close associate of Iqbal Mirchi. In 2010, the directorship of White Water Developers limited was transferred to Junaid Iqbal Memon and Asif Iqbal Memon, both sons of Iqbal Memon."

"In the second Provisional Attachment order, 3 properties having present market value of around Rs 500 crore have been attached. These properties are at Rabia Mansion, Marium Lodge and Sea View in the prime location of Worli, Mumbai. Investigation revealed that M/s Sunblink Real Estate Pvt Limited paid a total amount of Rs 111.80 crore to various persons/entities(including Mirchi) in India in relation to purchase of development rights of these properties in addition to Rs 154 crore ( Approx) paid to Iqbal Mirchi in Dubai. From the proceeds received in Dubai, Iqbal Memon purchased a Hotel namely Midwest Apartment in Dubai for AED 93 Million. Investigation under PMLA revealed that the ownership of these properties is still with one Sir Yusuf Mohammed Trust in which acted in active collusion with Mirchi and was proxy owner on behalf of Mirchi and also because the property was involved in Money Laundering, the same has also been provisionally attached under PMLA," read the release.

ED has clarified media reports which mentioned that Praful Patel's property was attached. The property attached at CeeJay House is 3rd and 4th floor which was given to Hajra Memon (Iqbal Mirchi's wife) and her two sons in a rent agreement signed with Millennium Developers.

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First Published on Dec 11, 2019 07:40 pm
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