(Image source from: Edtimes.in)
Government To Auction Dawood Ibrahim's Properties:- The Union Finance Ministry invited bids to auction one among the properties of underworld don Dawood Ibrahim which is located in Pakmodia street, Mumbai. The reserve price has been locked as Rs 79.43 lakhs in the Masulla Building in the Bhendi Bazaar region which is located in the centre of the city. The auction will be held on August 9th under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act (Safema).
The tender notices have been published in all the leading newspapers. The earnest deposit is said to be Rs 25 lakhs and this amount should be deposited on August 6th. This property is said to be sold through e-auction along with public auction and sealed tenders. The public auction will be held at YB Chavan auditorium on August 9th between 10 AM to 12 PM. There are also bids invited under Safema Act to auction nine other properties of Dawood located in different parts of the country.
The Supreme Court asked the Government to take over the properties on April 20th.