In a significant development, the childhood home of infamous Indian underworld figure Dawood Ibrahim, along with three other agricultural properties owned by his family in Ratnagiri, Maharashtra, are slated to be auctioned on Friday, January 5, 2024. The four properties, situated in Mumbake village, carry a combined valuation exceeding 19 lakh rupees, as reported by The Times of India and NDTV. These assets were seized by authorities under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act (SAFEMA).
Previous attempts to sell the properties reportedly faced challenges as potential buyers hesitated due to their connection with Dawood Ibrahim, a key accused in the 1993 Mumbai serial blasts. The reluctance of buyers led to failed sales, prompting SAFEMA to opt for an auction as the next course of action.
The auction, scheduled for January 5 in Mumbai, comes after unsuccessful attempts to sell the properties in the open market. The deadline for registration is set for January 3, indicating a swift process leading up to the auction. The decision to auction the properties reflects the government’s determination to dispose of assets linked to criminal activities despite the challenges faced in finding private buyers.
The properties in question were seized under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act (SAFEMA), a legal mechanism allowing authorities to confiscate assets acquired through illegal means. The auction serves as a legal process to divest these properties from their connection to Dawood Ibrahim and his family.
Over the past nine years, authorities have auctioned 11 properties associated with Dawood Ibrahim and his family. Notable sales include a restaurant that fetched 4.53 crore rupees, six flats sold for 3.53 crore rupees, and a guest house that garnered 3.52 crore rupees. These auctions are part of ongoing efforts to liquidate assets connected to illicit activities and reinvest the proceeds into legal channels.
As Dawood Ibrahim’s childhood home and family-owned agricultural properties in Ratnagiri head to auction, the event highlights the government’s unwavering commitment to divest assets associated with criminal activities. The auction serves as a legal mechanism to repurpose these properties and reinforces the broader efforts to combat illicit financial activities and organized crime.
See also : Jr NTR Reflects on Japan Visit: Gratitude and Shock in the Aftermath of Earthquakes