Key Takeaways
- The Enforcement Directorate (ED) has seized New Roshan Talkies, a prime property in South Mumbai, valued at Rs 847 crore.
- The property was confiscated under the Prevention of Money Laundering Act (PMLA) due to its link to Iqbal Mirchi’s criminal activities.
- The ED took physical possession of the property in December 2024 and ensured it was vacated and secured to prevent further illegal encroachments or transactions.
Mumbai: The Enforcement Directorate (ED) has seized historical cinema hall’New Roshan Talkies’, considered a prime property in South Mumbai, valued at approximately Rs 847 crore, linked to late Iqbal Mirchi, a key associate of underworld don Dawood Ibrahim.
The property, located in the red light area at Patthe Bapurao Marg, formerly known as play house, was confiscated under the Prevention of Money Laundering Act (PMLA).
The ED took physical possession of the property in December 2024, invoking Section 8(4) of the PMLA.
This action followed an Appellate Tribunal order after intelligence revealed attempts to sell the property to a third party.
Officials ensured the property was vacated and secured to prevent further illegal encroachments or transactions.
The cinema hall was purchased by Iqbal Mirchi using proceeds from illegal activities, including drug trafficking and money laundering. It was later converted into a real estate investment to launder illicit funds.
According to the ED, Mirchi and his associates used shell companies and benami transactions to acquire properties in prime locations, including this one.
The New Roshan Talkies property is one of several high-value assets attached by the ED as part of its crackdown on Iqbal Mirchi’s criminal empire. Other seized properties include residential flats, commercial spaces, and land parcels in South Mumbai, Worli, and Bandra, all allegedly purchased using proceeds of crime.
