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SBUT to bid for 3 of Dawood's properties in Bhendi Bazaar

14 November 2017

Two weeks after mid-day first reported that Saifee Burhani Upliftment Trust (SBUT) was eyeing underworld don Dawood Ibrahim's Bhendi Bazaar property, Hotel Raunaq Afroz, which was up for re-auction this morning, sources confirmed that the trust is one of the three bidders. The auction will be held in Churchgate on Tuesday.The three properties include a two-storied building, Shabnam Guest House; six flats in Damarwala building; and a restaurant Rounaq Afroz.

According to officials, among the three properties of Dawood - which were put on auction on Tuesday -the Rounaq restaurant, also known as Delhi Zaika, was sold for Rs 4.53 crore. The Damarwala property was bagged for Rs 3.53 crore and the Shabnam guest house fetched Rs 3.52 crore.

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The three properties, which are described as decrepit and unfit for living, would be refurbished, said the Saifee Trust in a statement.

The Reserve price now kept for the property Rs 1 crore 55 lakh 76 thousand.

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His brother Iqbal has reportedly provided Dawood's addresses in Karachi. Dawood used to stay at Damarwala Building with his family till he fled the country in 1986. Even now, security remains a major concern. But the auction couldn't take place.

Damarwala building was home to Dawood Ibrahim and his family members in late eighties. However, the property went in for re-auction, as Balakrishnan, could not cough up R4.28 crore he'd won the property for.

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The auction was ordered by the Ministry of Finance under SAFEMA (Smugglers and Foreign Exchange Manipulators) Forfeiture of Properties Act. Veteran journalist S Balakrishnan had a;sp bid for the hotel in 2015, but he failed to arrange the funds.

SBUT to bid for 3 of Dawood's properties in Bhendi Bazaar