Iqbal Mirchi’s ₹500-cr worth assets forfeited

NEW DELHI: Three properties of late gangster Iqbal Mirchi in Mumbai, worth about ₹500 crore, have been “forfeited” under the provisions of two central laws against smugglers, foreign exchange manipulators and narcotic operatives, the Enforcement Directorate said on Wednesday.

It said the immovable assets named --Rabia Mansion, Mariam Lodge and Sea View-- are located in the Worli area of Maharashtra’s capital city.

Mirchi was allegedly the right-hand man of global terrorist Dawood Ibrahim in drug trafficking and extortion rackets.

The order for seizure of properties was issued by the competent authority for SAFEMA (Smugglers and Foreign Exchange Manipulators Act) and NDPS (Narcotic Drugs and Psychotropic Substances) on November 9 based on “evidence gathered” against Mirchi and his associates by the ED.

The competent authority adjudicates cases filed under the SAFEMA and the NDPS.

“As per the order, all the transfers and transactions in respect of these properties have been declared null and void.”The value of these properties is about ₹500 crore as ascertained by the ED during the course of the investigation under the PMLA (Prevention of Money Laundering Act),” the central probe agency said in a statement.

The ED had filed a money laundering case against Mirchi, who died in London in 2013, his family and others last year after studying multiple Mumbai Police FIRs lodged against them.

These properties have also been attached by the ED under the anti-money laundering law.

The agency had alleged Mirchi “indirectly owned various properties in and around Mumbai”. It had filed a criminal case against Mirchi and those linked to him to probe money laundering charges linked to their alleged illegal dealings in the purchase and sale of costly real estate assets in Mumbai.

The ED said these assets were released from seizure in 2005 after Mirchi in “connivance” with Sir Mohammed Yusuf Trust “misrepresented” the facts before a court.