SBUT acquires Dawood Ibrahim’s Amina Building

SBUT acquires Dawood Ibrahim’s Amina Building
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Mumbai: With underworld’s roots slowly vanishing from the Indian society, the government is taking stringent actions against all that is left of them be it their immovable properties or anything that connects to them.

The three storey Masulla building also known as Amina Mansion in South Mumbai’s Bhendi bazaar was recently up for auction and was bought for a whopping 3.5 crores by the Saifee Burhani Upliftment Trust (SBUT) Yesterday, New Indian Express reported.

Akhil Bharatiya Mahasabha and Delhi-based lawyer Bhupendra Bharadwa were also among the other two bidders for the Amina Mansion which was named after Dawood’s mother Amina Bi.

The Mahasabha is reported to have pulled out from the final bidding process since it could not deposit initial 25 lakhs depositing money and Bharadwaj, despite being the highest bidder (with Rs 1.91 crore) in the public auction, did not participate in the sealed tenders process which led to SBUT winning the deal.

The Mansion’s auction was carried out under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act (SAFEMA) with the reserve price for the property was Rs 79.43 lakh with the bidders participating needed to submit the earnest money deposit (EMD) of Rs 25 lakh by August 6 to participate in the auction.

The SBUT said they would redevelop the building since it was no longer safe for the people in the vicinity.

The organization had earlier won other bids with the highest price of Rs 11.50 crore for three other properties that belonged to Dawood’s family which are Shabnam Guest House, six flats in the Damarwala building, Hotel Raunaq Afroz and the Masulla building.