ED attaches ₹700 crore Iqbal Mirchi assets under FEOA in Mumbai
Synopsis
The ED has attached ₹700.27 crore in properties tied to late gangster Iqbal Mirchi — including three landmark Worli buildings bought for ₹6.50 lakh in 1986 and now valued at ₹497 crore, plus Dubai real estate worth ₹203 crore. Three family members have already been declared Fugitive Economic Offenders, and the probe is ongoing.
Key Takeaways
The ED provisionally attached assets worth ₹700.27 crore linked to the late Iqbal Mirchi and his family under the FEOA, 2018 .
Three Worli properties — Rabia Mansion , Marium Lodge , and Sea View — valued at ₹497 crore are among the attached assets.
Overseas assets in Dubai worth approximately ₹203.27 crore were also attached, including 14 real estate units at Corporate Bay and DEC Towers.
The Worli properties were originally purchased in 1986 for just ₹6.50 lakh through M/s Rockside Enterprises.
Asif Iqbal Memon , Junaid Iqbal Memon , and Hajra Iqbal Memon were declared Fugitive Economic Offenders by a Special Court on 26 February 2021 .
The Directorate of Enforcement (ED), Mumbai Zonal Office, has provisionally attached immovable properties worth approximately ₹700.27 crore under the Fugitive Economic Offenders Act (FEOA), 2018, in connection with a money laundering case linked to the late underworld figure Iqbal Mirchi and his family members. The action marks one of the largest single asset-attachment orders in the long-running probe into Mirchi's alleged criminal empire.
Properties Attached
The attached assets include three prime properties in Mumbai's Worli area — Rabia Mansion, Marium Lodge, and Sea View — collectively valued at approximately ₹497 crore. Additionally, overseas properties in Dubai worth roughly ₹203.27 crore have been attached, including Hotel Midwest Apartment and 14 real estate units at Corporate Bay and DEC Towers, held in the names of Asif Iqbal Memon and his family members.
Background to the Investigation
The ED probe was initiated on the basis of multiple FIRs registered by Mumbai Police, including cases at M.R.A. Marg Police Station, Yellow Gate Police Station, Byculla Police Station, the Anti-Narcotics Cell, and DCB CID, against the late Iqbal Mirchi under the IPC, Arms Act, TADA, and NDPS Act. The investigation conducted under the Prevention of Money Laundering Act (PMLA) allegedly revealed that Mirchi was involved in organised criminal activities including drug trafficking, extortion, and illegal arms dealings.
The agency alleged that substantial proceeds of crime generated through these activities were laundered through acquisition of properties in India and abroad, registered in the names of family members, associates, and entities allegedly controlled by Mirchi.
The Worli Properties: A Paper Trail Since 1986
According to the ED, the three Worli properties belonging to Sir Mohammad Yusuf Trust were originally purchased in 1986 through M/s Rockside Enterprises for just ₹6.50 lakh. While the properties remained in the Trust's name on paper, actual ownership and control allegedly rested with Iqbal Mirchi and his family. The ED further alleged that the Trust, in conspiracy with Mirchi, misrepresented facts before courts and concealed material information to secure release of the properties from earlier attachment proceedings.
Fugitive Economic Offenders Declared
The ED has already filed a prosecution complaint and a supplementary prosecution complaint before the Special Court (PMLA), Mumbai against Asif Iqbal Memon, Junaid Iqbal Memon, Hajra Iqbal Memon, and others for alleged money laundering. The Special Court, through an order dated 26 February 2021, had declared all three as Fugitive Economic Offenders under the FEOA, 2018. Further investigation in the case remains underway.
Point of View
A gap that itself tells the story of Mumbai's real estate as a laundering vehicle. The FEOA declaration against three family members is significant: it strips them of the right to defend civil claims on the attached properties, a tool designed precisely for cases where accused have fled jurisdiction. What remains to be tested is whether the Dubai assets can be effectively recovered, given the limits of bilateral enforcement. The case is a template for how PMLA and FEOA are increasingly used in tandem against organised crime networks — but asset attachment is not conviction, and the final legal outcome will depend on how the Special Court rules on the prosecution complaints already on record.
NationPress
5 Aug 2026
Frequently Asked Questions
What assets has the ED attached in the Iqbal Mirchi case?
The ED has provisionally attached properties worth approximately ₹700.27 crore, including three Worli properties — Rabia Mansion, Marium Lodge, and Sea View — valued at ₹497 crore, and Dubai real estate worth ₹203.27 crore. The attachment was made under the Fugitive Economic Offenders Act, 2018.
Who are the Fugitive Economic Offenders declared in this case?
The Special Court (PMLA), Mumbai, declared Asif Iqbal Memon, Junaid Iqbal Memon, and Hajra Iqbal Memon as Fugitive Economic Offenders through an order dated 26 February 2021. They are family members of the late Iqbal Mirchi.
What crimes is Iqbal Mirchi alleged to have committed?
According to the ED, investigations under PMLA allegedly revealed that Iqbal Mirchi was involved in organised criminal activities including drug trafficking, extortion, and illegal arms dealings. Multiple FIRs were registered against him by Mumbai Police under the IPC, Arms Act, TADA, and NDPS Act.
How were the Worli properties originally acquired?
According to the ED, the three Worli properties were purchased in 1986 through M/s Rockside Enterprises for ₹6.50 lakh in the name of Sir Mohammad Yusuf Trust. The agency alleged that actual ownership and control remained with Iqbal Mirchi and his family despite the properties staying in the Trust's name on paper.
What is the current status of the legal proceedings?
The ED has already filed a prosecution complaint and a supplementary prosecution complaint before the Special Court (PMLA), Mumbai against Asif Iqbal Memon, Junaid Iqbal Memon, Hajra Iqbal Memon, and others. Further investigation in the case is reportedly ongoing.
