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    Dawood's Ratnagiri properties fetch Rs 1.10 crore in auction

    Synopsis

    The auction was held earlier this week under the Smugglers And Foreign Exchange Manipulators (Forfeiture of Property) Act (SAFEMA), the official said.

    Agencies
    Three properties of fugitive gangster Dawood Ibrahim in Maharashtra's Ratnagiri district were sold in an auction.
    Three properties of fugitive gangster Dawood Ibrahim in Maharashtra's Ratnagiri district were sold in an auction for over Rs 1 crore, an official said on Wednesday.

    The auction was held earlier this week under the Smugglers And Foreign Exchange Manipulators (Forfeiture of Property) Act (SAFEMA), the official said.

    Ravindra Kate was the successful bidder for a plot measuring 30 gunthas, another measuring 50 gunthas and a building, all located in Lote village in the Khed tehsil, he said.

    One guntha is approximately 1,089 square feet.

    The total reserve price for these properties was Rs 1,09,15,500 while the winning bid was for Rs 1,10,01,051, the official said.

    "The properties are very close to the highway," additional commissioner of SAFEMA R N D'Souza said.

    These assets were up for auction in November along with six other properties of the gangster, but due to some technical issue they had remained unsold, he said.

    A few more properties of Ibrahim in Khed tehsil will be auctioned off in the coming days, he added.

    The process was conducted through e-auction, public auction and sealed tender auction, D'Souza said, adding that Kate, a resident of Khed, won these properties in a sealed tender auction.

    There were no takers for the properties of Dawood's close aide, late gangster Iqbal Mirchi, due to high reserve price.

    "We have sent those property rates for revaluation, as the market is down due to the COVID-19 situation. A fresh auction for Mirchi's properties will be conducted again," D'Souza said.
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