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No bidders for auction of gangster Iqbal Mirchi's properties

ANI  |  General News 

Properties of late gangster Iqbal Mirchi could not be auctioned by the office of competent authority on Tuesday as no bidders showed interest due to high market prices.

"No bidder came forward. We were given the impression that prices were a little higher than market price, this issue will be considered. We will put the properties for auction again," R N D'souza, Additional Commissioner of Smugglers and Foreign Exchange Manipulators (forfeited of property) Act, (SAFEMA) told ANI.

Both public and e-auction of properties belonging to Mirchi were scheduled for today. The properties listed for auction included two of his flats, measuring around 1245 square feet, in Milton Apartments of Mumbai's Santa Cruz West area.

The reserve price for them was kept at Rs 3.45 crore. Some three to four other properties are also slated to go under the hammer.

The Enforcement Directorate (ED) had earlier identified benami assets of Mirchi. The investigation had revealed that he amassed various properties in India, the UAE, and the UK from the proceeds of crime.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 19 2019. 15:29 IST
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