ED confiscates underworld don Iqbal Mirchi’s property in money laundering case​on January 6, 2025 at 4:38 pm

ED confiscates underworld don Iqbal Mirchi’s property in money laundering case

​ED confiscates underworld don Iqbal Mirchi’s property in money laundering case ED confiscates underworld don Iqbal Mirchi’s property in money laundering case   

In a significant action against the family of deceased underworld don Iqbal Mirchi, the Enforcement Directorate (ED) has taken possession of a prime property in south Mumbai.

The property, located at New Roshan Talkies on Patthe Bapurao Marg in Girgaon, was allegedly acquired by Mirchi using proceeds from smuggling and other illegal activities.

ED received input that efforts were underway to create third party rights on the property through illegal encroachment. Acting swiftly on the intelligence, the ED got the property vacated by an Appellate Tribunal (PMLA) order and invoked the provision of Section 8(4) of the Act to take its physical possession in December 2024.

The ED investigation revealed that Iqbal Mirchi was involved in the drug trade among other illegal business activities. He purchased numerous properties from the proceeds generated from the illegitimate drug business.

After the death of Iqbal Mirchi, these properties were transferred to the names of his sons Junaid Iqbal Memon, Asif Iqbal Memon and his wife Hajra Iqbal Memon through gift deeds, the probe revealed.

One such property was identified as New Roshan Talkies at Girgaon, Mumbai, which was a theatre, running motion pictures, and was managed by Mukhtar Patka (brother-in-law of Iqbal Mirchi).

As part of the investigation under PMLA, ED provisionally attached the said property, which was subsequently confirmed by the Adjudicating Authority (PMLA). However, further proceedings were stayed by the Appellate Tribunal (PMLA).

The investigation under PMLA was initiated on the basis of FIRs registered against Mirchi and others under various sections of the Indian Penal Code (IPC), Arms Act, and NDPS Act.

Iqbal Mirchi, along with fugitive don Dawood Ibrahim Kaskar, was involved in smuggling drugs, electronics and other goods and had amassed huge wealth through these means.

Mirchi’s sons Asif and Junaid, who were declared Fugitive Economic Offenders, are said to have continued the illegal narcotics trade even after his death.