Indian Court Approves Confiscation of ₹700 Crore in Iqbal Mirchi Properties
Court allows ED to confiscate Iqbal Mirchi properties in Mumbai, Dubai
Hindustan Times
Image: Hindustan Times
A special court in Mumbai has authorized the Enforcement Directorate (ED) to confiscate assets worth ₹700 crore linked to Iqbal Mirchi, a deceased fugitive gangster. The properties, located in Mumbai and Dubai, are believed to be proceeds of crime concealed through complex ownership structures.
- 01Court allows confiscation of ₹700 crore in assets linked to Iqbal Mirchi.
- 02Properties include prime locations in Mumbai and Dubai.
- 03The ruling comes after the ED's application under the Fugitive Economic Offenders Act.
- 04Mirchi's family members have not challenged the confiscation order.
- 05The properties were acquired through a charitable trust to disguise ownership.
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A special court in Mumbai has granted the Enforcement Directorate (ED) permission to confiscate assets valued at ₹700 crore (approximately $84 million USD) linked to Iqbal Mirchi, a deceased fugitive gangster and drug trafficker. The court, led by Additional Sessions Judge R B Rote, found strong evidence suggesting that the properties are proceeds of crime concealed through proxies and layered ownership structures. The confiscation includes 15 properties in Mumbai, such as Rabia Mansion and Sea View, and several units in Dubai, including Hotel Midwest Apartment. The ruling follows the ED's application made in March under the Fugitive Economic Offenders (FEO) Act. The court noted that Mirchi's family, declared fugitive economic offenders in 2021, has not contested the order or appeared in court. The ruling emphasizes that these properties were acquired in the late 1980s through a partnership firm but were kept under the name of a charitable trust to evade enforcement actions. The ED has indicated that funds from these properties were funneled abroad via accounts opened with forged documents.
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The ruling could set a precedent for future confiscations of assets linked to organized crime, impacting similar cases.
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