Mumbai: A city trust has purchased a sum of Rs 3.51 crore in a property auction of fugitive underworld don Dawood Ibrahim. The Saifee Burhani Upliftment Trust (SBUT) bought property worth Rs 3.51 crore in the auction held in Bhindi Bazar, South Mumbai. A spokeswoman of the Trust gave this information today. Auction of four-storey building 'Masula' was given by the Central Finance Ministry under the smuggler and foreign exchange 'manipulator' (property seizure) law. The reserve price was kept at Rs 79.43 lakh and the two sides bids for it. Apart from SBUT, Delhi's lawyer Bhupendra Bharadwaj was the second bidder to bid for.
Bhardwaj said, "I had made a bid of 1 crore 91 lakh 43 thousand rupees and won a public auction. I did not participate in 'E-bid' where SBU has bid more. "There is a process of three stages in the auction of a property, including opening public auction, 'e bidding' and seal closed tenders. According to a source in the SBU, the trust had bids of Rs 3.43 crore in the e-tendering phase, but in the final phase, it confirmed the deal in 3.51 crore rupees. When asked about the auction, the SBUT spokesman said, "Masula" has been disqualified for building and it pushes a serious threat to the lives of tenants and pedestrians. "So, we said, Participated in the auction and got it to develop the building again under our brand-new market recycling project. "