Enforcement Directorate Moves to Attach Iqbal Mirchi's Assets in Mumbai and Dubai
Iqbal Mirchi’s assets in Worli, Dubai set to be attached under FEO Act
Hindustan Times
Image: Hindustan Times
The Enforcement Directorate (ED) is set to attach properties linked to deceased narcotics trafficker Iqbal Mirchi in Worli, Mumbai, and Dubai under the Fugitive Economic Offenders Act (FEOA). This action follows a court's approval and is part of a broader investigation into money laundering activities connected to Mirchi and his family.
- 01ED to attach properties in Worli, Mumbai, and Dubai linked to Iqbal Mirchi.
- 02Properties include three buildings in Worli and several real estate units in Dubai.
- 03Assets were acquired through alleged money laundering activities.
- 04Mirchi's family members have been declared 'fugitive economic offenders'.
- 05This action follows previous asset attachments under the Prevention of Money Laundering Act.
Advertisement
In-Article Ad
The Enforcement Directorate (ED) has commenced the process to attach immovable assets associated with Iqbal Mirchi, a deceased narcotics trafficker, located in Worli, Mumbai, and Dubai. This move comes after a special court authorized the action under the Fugitive Economic Offenders Act (FEOA), allowing for the confiscation of assets before trial completion. The Worli properties include land parcels on Dr Annie Besant Road, where three buildings—Sea View, Marium Lodge, and Rabia Mansion—were previously situated. Mirchi allegedly acquired these properties in 1986 for ₹6.5 lakh (approximately $7,800 USD) through his partnership firm, Rockside Enterprises, and they were transferred to him in 1991. The ED had previously attached these assets in 2019 under the Prevention of Money Laundering Act (PMLA), which requires trial completion for confiscation. In contrast, the FEOA allows for earlier action. The Dubai assets include Hotel Midwest Apartment and 14 real estate units, held in the names of Mirchi's wife, Hajra Memon, and sons, Asif and Junaid, who are also accused in the case and have been declared fugitive economic offenders. The investigation into Mirchi's money laundering activities began in September 2019, focusing on the sale of the Worli properties for ₹225 crore (approximately $27 million USD) to Sunblink Real Estate Pvt Ltd in 2010, with proceeds allegedly used to acquire assets in Dubai.
Advertisement
In-Article Ad
The attachment of these assets may deter similar illegal activities by sending a strong message against money laundering and economic offenses.
Advertisement
In-Article Ad
Reader Poll
Do you think the government should take stricter actions against economic offenders?
Connecting to poll...
More about Enforcement Directorate
Read the original article
Visit the source for the complete story.







