The crisis has forced underworld gangs to withdraw from usual investment activities; cops fear negative repercussions 
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RAZED: One of the properties of don Dawood Ibrahim in Bhendi Bazar that was demolished eight years ago. file pic</td></tr></tbody></table>Along with the rest of the world, the economic slowdown is also hitting the underworld hard. For the first time, fugitive don Dawood Ibrahim is withdrawing some of his investments from real estate and the Indian stock exchanges. Crime Branch chief Rakesh Maria revealed that Dawood and his key lieutenants have been withdrawing from some of their prime businesses like real estate and Bollywood financing. They do not want to take further monetary risks, as they have to pay huge amounts to the Pakistani government as protection money, added Maria. The development assumes significance in light of the fact that the Indian government is exerting pressure on Pakistan to extradite Dawood so he can be tried in the country. Crime Branch officials said Dawood and his cronies have been lying low for the past few months to avoid international attention, which could result in their deportation to India. <img alt="" src="/imagedata/2009/jan/gunda.jpg" align="right" border="1" />The result The same trend is being seen among all other underworld gangs in Mumbai. But this withdrawal, law enforcement agencies believe, could have an undesired effect. They now fear that the lower rung of the underworld will be on their own after gangs feel the monetary pinch due to the lack of monetary activities, triggering a resurgence in underworld activities in Mumbai. Police officials speculate that there will be a very sharp rise in economic offences. Officials said the splinter groups may resort to large-scale extortion to compensate for the loss of regular hafta from businessmen stung by the economic crisis. Dawood's known properties According to Income Tax reports, Dawood's properties in Mumbai are estimated over Rs 300 crore. These include... jgara Mansion (Mandvi): Rs 66 lakh Raunak Afros Hotel (Pakmodia Street): Rs 8 lakh Damarwala Building (Pakmodia Street): Rs 35 lakh 24, Yakub Street: Rs 35 lakh Industrial Gala (Tardeo): Rs 2.5 lakh Umera Engg Works (Tardeo): Rs 2 lakh 22, Temkar Street: Rs 28 lakh 99, Ghaswala (Temkar): Rs 40 lakh Garib Nawaz Guest Hosue (Nagpada): Rs 55 Lakh Dewan Centre (Jogeshwari): Rs 41 crore Perkar Mansion (Byculla): Rs 120 lakh B Garage (Chowpatty): Rs 82 crore 49, Madha Bldg (Mandvi): Rs 13 crore Golden Apartments (Nagpada) Rs 47.5 lakh

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The crisis has forced underworld gangs to withdraw from usual investment activities; cops fear negative repercussions

Economic slowdown has hit Dawood too

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Home / Mumbai / Mumbai News / Article / Economic slowdown has hit Dawood too

Economic slowdown has hit Dawood too

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