The Earnest Money Deposit (EMD) is of Rs 25 lakh. The earnest money needs to be deposited by August 6.
Three prospective bidders have shown interest in buying underworld Don Dawood Ibrahim's property. These three bidders even went and inspected the property located at Bhendi Bazaar. While the first one is the Saifee Burhani Upliftment Trust that is redeveloping Bhendi Bazaar, the other two includes Indira Tiwari of Akhil Bhartiya Hindu Mahasabha and Adv Bhupendra Bharadwaj — a Delhi resident.
The auction is being held by Ministry of Finance under the Smuggling and Foreign Exchange Manipulators (Forfeiture of Property) Act, (SAFEMA) The building is named as Masulla and is located at Pakmodia Street in Mumbai's Bhendi Bazaar area. The auction will be held on August 9 and the reserve price is Rs 79.43 lakh.
The Earnest Money Deposit (EMD) is of Rs 25 lakh. The earnest money needs to be deposited by August 6.
When SAFEMA was contacted, a senior official said, "Already three prospective bidders have inspected the properties. We are hoping for a successful auction."
While the reason for SBUT's interest in the property is because it is redeveloping Bhendi Bazaar and this is one amongst several buildings located in the area. Last November, SBUT had won the three properties in an auction carried out by SAFEMA. The three properties included two-storied Shabnam Guest House building, six flats in Damarwala building and the restaurant Raunaq Afroz all of them located in Bhendi Bazaar and belonged to the Don's family.
The other bidders who inspected the property are in the race inorder to make the society rid of the fear of the name Dawood. Tiwari resides in Varanasi and claims her reason for participating in the auction is that she want to end the fear of Dawood's name. She aims to build an oldage home here she also was planning to have a hospital if she gets the property. She is yet to pay the EMD.
On the other hand Adv Bharadwaj says he is participating because he is tired of the terrorism the country is facing. "The property is already tenanted so if I win the auction even then I will have a long battle ahead. I don't care about my life, I want to do something for the nation," he said.
Bharadwaj had participated in the precious bidding of hotel Rounaq Afroz too.
THE AUCTION
The auction is being held by the Ministry of Finance under SAFEMA; the auction will be held on Aug 9 & reserve price is Rs 79.43L. The Earnest Money Deposit is Rs 25L and has to be deposited by Aug 6
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