Underworld don Dawood Ibrahim's three properties in south Mumbai area were purchased by the the Saifee Burhani Upliftment Trust, run by the Dawoodi Bohra community.
The bidding was held amid tight security arrangements near the Churchgate area of Mumbai.
The SBUT will now be completing the remaining formalities. The SBUT has quoted around Rs 11 crore for three properties.
The properties include a restaurant, Hotel Raunaq Afroz, also known as Delhi Zaika, Shabnam Guest House and six tenements in the Damarwala Building, all within a km in the congested Muslim-dominated Bhendi Bazaar.
The auction was conducted by the Ministry of Finance under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act (SAFEMA).
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