The Ministry of Finance, under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act auctioned three south Mumbai properties belonging to underworld don Dawood Ibrahim for Rs. 11.58 crore to the Saifi Burhani Upliftment Trust (SBUT).
The three properties are Hotel Raunaq Afroz, also known as Delhi Zaika, Shabnam Guest House and six rooms in Damarwala building.
The Saifee Burhani Upliftment Trust was the highest bidder for the three properties. Though the exact auction prices are yet to be disclosed, reports suggest the Rounaq Afroz restaurant was auctioned 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.
