Prime properties of ageing underworld don Dawood Ibrahim’s associate Iqbal Mirchi, including three in Mumbai, were among those the Enforcement Directorate has provisionally attached which are valued at ₹700.27 crore.
According to the ED, the attached properties – Rabia Mansion, Marium Lodge and Sea View – in Worli of Iqbal Mirchi, who carried original name as Mohammad Iqbal Memon and was a wanted fugitive in 1993 Mumbai blast case -- have been valued at around ₹497 crore. While, his overseas assets in Dubai are worth approximately ₹203.27 crore, as per a ED’s statement. All of them have been attached under the provisions of the Fugitive Economic Offenders Act (FEOA).
Mirchi had escaped to London to avoid being caught by the Indian law enforcement agencies for his involvement in the 1993 blast case. He died of heart attack in London on August 14, 2013, at the age of 63. Before that, he was running organised criminal activities, including drug trafficking, extortion and illegal arms trade at the behest of Dawood.
The agency launched money laundering probe after taking up multiple FIRs registered by Mumbai Police against Iqbal Mohammad Memon alias Iqbal Mirchi under various sections of the IPC, Arms Act, TADA and NDPS Act.
The probe agency said its money laundering investigation revealed that the proceeds of crime generated from these activities were allegedly laundered through the acquisition of properties in India and abroad in the names of family members, associates and entities controlled by Mirchi.
The ED said the investigation found that the Worli properties belonging to the Sir Mohammad Yusuf Trust were purchased in 1986 through Rockside Enterprises for ₹6.5 lakh and that the actual ownership and control allegedly remained with Mirchi and his family despite the properties continuing in the name of the trust on paper.
Misrepresented facts
The agency also alleged that the Trust, in conspiracy with Mirchi, misrepresented facts before a court and concealed material facts to secure the release of the properties from earlier attachment proceedings.
The investigation also revealed that the proceeds of crime were allegedly used to acquire overseas assets, including Hotel Midwest Apartment in Dubai and 14 real-estate units at Corporate Bay and DEC Towers in Dubai, in the name of Mirchi’s wife, Hajra Iqbal Memon, and sons, Asif Iqbal Memon and Junaid Iqbal Memon.
The ED said it has filed chargesheets under the Prevention of Money Laundering Act (PMLA) before a special court in Mumbai against Asif Memon, Junaid Memon, Hajra Memon and others in connection with the money laundering case.
The agency said the special PMLA court, through an order passed on February 26, 2021, declared all three as fugitive economic offenders under the FEOA.
Published on May 18, 2026