The property, located in Mumbake village of Khed taluka in Ratnagiri, was among the four confiscated assets offered for sale. Although the Dawood Ibrahim-linked agricultural land had drawn attention ahead of the event, no bids were received despite advance publicity and a reduced reserve price, officials said
Underworld Don Dawood Ibrahim. File Pic
A parcel of agricultural land in Ratnagiri district linked to underworld don Dawood Ibrahim remained unsold during a government auction held on Tuesday, as no bidders came forward, officials from the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Authority (SAFEMA) said.
The property, located in Mumbake village of Khed taluka, was among the four confiscated assets offered for sale by SAFEMA. Although the Dawood Ibrahim-linked agricultural land had drawn attention ahead of the event, no bids were received despite advance publicity and a reduced reserve price, officials said.
“Since no bidder came forward for the Dawood-linked property, it has remained unsold. The authority now plans to conduct a re-auction soon,” a senior SAFEMA officer stated.
The four properties, including the Ratnagiri land, were seized under the provisions of SAFEMA, which empowers the Centre to forfeit assets believed to have been acquired through illegal means or held in the names of associates of smugglers and foreign exchange violators.
According to officials, the Dawood Ibrahim-connected property has failed to attract buyers even in previous auctions due to legal complications and the stigma associated with its ownership history.
“The label attached to these assets often discourages bidders, even when reserve prices are lowered,” another officer added.
The agency now plans to re-advertise the unsold properties with revised terms and possibly lower reserve prices to attract potential buyers.
“A fresh auction round will be announced shortly,” the officer confirmed.
The development highlights the challenges authorities continue to face in liquidating forfeited properties linked to the Dawood Ibrahim syndicate, decades after their seizure under central anti-smuggling laws.
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