This Article is From Dec 11, 2019

Probe Agency Attaches Assets Worth Rs 600 Crore In Iqbal Mirchi Case

The Enforcement Directorate had also recently filed a charge sheet in this case before a special court in Mumbai.

Probe Agency Attaches Assets Worth Rs 600 Crore In Iqbal Mirchi Case

The agency had recently filed a charge sheet in this case before a special court in Mumbai.

New Delhi:

The Enforcement Directorate (ED) on Wednesday said it has attached assets with a market value of Rs 600 crore in connection with its money laundering probe in the gangster Iqbal Mirchi money laundering probe case.

These properties include the 3rd and 4th floors of CEEJAY House in Mumbai's Worli area, an office premise at Arun Chambers, Tardeo in Mumbai, three flats in Sahil bungalow at Worli, three prime commercial shops in Crawford Market and bungalows and land (more than 5 acres) in Lonavala, the agency said in a statement.

The federal probe agency said it has issued two provisional orders under the Prevention of Money Laundering Act (PMLA) to execute the attachment of properties that have a market value of about Rs 600 crore.

These properties were acquired by Iqbal Mirchi in the "name of his family members and relatives", the ED alleged.

The agency had recently filed a charge sheet in this case before a special court in Mumbai.

Iqbal Mirchi, who died in 2013 in London, was alleged to be the right-hand man of global terrorist Dawood Ibrahim in drug trafficking and extortion crimes.

"He (Mirchi) was an international drug dealer and smuggler who had amassed huge wealth and acquired various immovable properties and businesses across the globe," the ED said.

The agency alleged Iqbal Mirchi "indirectly owned various properties in and around Mumbai."

"His family is owning 14,000 sq ft area of 3rd and 4th floor of CEEJAY House, a 15-floor prime commercial property in Worli, Mumbai. This property was re-developed by Millennium Developer Pvt Limited," it said.

Investigations also revealed that a certain part of plot was earlier in possession of one M K Mohammed. Iqbal Mirchi entered into an agreement with Mohammed for acquiring the rights in the property in the name of his wife Hajra Memon for Rs 9 lakh and the agreement was executed in 1986, the ED said.

"Though the payment of only Rs 20,000 was made in 1986, the possession of the property was taken by Iqbal Mirchi in 1986 itself and he started running a discotheque by the name of Fisherman's Wharf."

"Later at the time of re-development, Iqbal Mirchi was given 14,000 sq ft on 3rd and 4th CEEJAY House in Worli in the name of his wife Hajra Memon and sons. Three flats in one more prime property, namely Sahil bungalow were also acquired by Mirchi in the name of his relatives during the same period," it said.

In order to hide the criminal origin of the funds, the ED charged, to acquire the properties Iqbal Mirchi purchased one flat each in the name of his wife, sister Zaibunnisa Mohd Memon and brother Aslam Merchant.

"The intentions became clear when Aslam Merchant gifted his and Zaibunnisaa Memon''s (as her heir) share in the property to his wife Hajra Memon and son Junaid Memon. The entire property is in possession of the family of Iqbal Memon (Mirchi)," it said.

It added that this property was purchased by Iqbal Mirchi from one Iqbal Doodhwala.

The property in Lonavala was earlier in the name of Hajra Iqbal Memon. In 2005, the ownership of the same was transferred without any consideration to White Water Developers Limited, a company formed by Humayun Merchant, a close associate of Iqbal Mirchi.

"In 2010, the directorship of White Water Developers limited was transferred to Junaid Iqbal Memon and Asif Iqbal Memon, both sons of Iqbal Mirchi," the ED alleged.

As part of the second attachment order, properties like Rabia Mansion, Marium Lodge and Sea View in Worli area have been attached.

The probe revealed, the ED alleged, that Sunblink Real Estate Pvt Limited paid a total amount of Rs 111.80 crore to various persons/entities(including Mirchi) in India in relation to purchase of development rights of these properties in addition to about Rs 154 crore paid to Iqbal Mirchi in Dubai.

"From the proceeds received in Dubai, Iqbal Mirchi purchased a hotel Midwest Apartment in Dubai for AED 93 million (UAE Dirham).

"The ownership of these properties is still with one Sir Yusuf Mohammed Trust which acted in active collusion with Iqbal Mirchi and was proxy owner on behalf of Mirchi," it said.

The ED has filed a criminal case against Iqbal Mirchi, his family and others to probe money laundering charges for alleged illegal dealings in purchase and sale of costly real estate assets in Mumbai.
This PMLA case is based on multiple Mumbai Police FIRs.