The competent authority under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act (SAFEMA) is set to auction seven forfeited properties in Maharashtra’s Ratnagiri, belonging to fugitive gangster Dawood Ibrahim and his family on November 10.
According to a report by The Times of India, the reserve price of the properties is more than Rs 75 lakh and that the auction has drawn “good interest” from prospective buyers.
Moneycontrol earlier reported on the said auction.
These properties are plots located in Khed Taluka, together measuring over 176 ‘gunthas’ (40 gunthas are equal to one acre). However, one of these plots has a dilapidated two-floor structure and another has a structure for a fuel station, the report suggests.
The Centre confiscated these properties belonging to Ibrahim and his family under provisions of the Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985, and a section of SAFEMA.
The auction is being carried out on ‘as is where is’ and ‘as is what it is’ basis, which includes existing litigation as part of the terms and conditions.
Ibrahim and his associates are accused of being part of the 1993 Mumbai blasts conspiracy. He was born in Ratnagiri in 1955. There is an active Interpol Red Corner Notice against him. India has repeatedly said that Ibrahim is living in Pakistan. Pakistan has denied this.
According to the Interpol notice, Ibrahim is also charged with forging and counterfeiting currency-notes, cheating and running and organising a crime syndicate.
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