India, July 29 -- Out of the three properties of fugitive gangster Tiger Memon's family that were put up for auction, the competent authority and administrator under the union government on Tuesday received a single bid for a 560-sqft shop in Mahim, officials aware of the matter told Hindustan Times.

The bidder is Mumbai-based but their identity has been kept under wraps for safety and security reasons, officials said.

"The sole submission is marginally above the reserve price of Rs.2.05 crore," an official told HT. The auction was conducted under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 (SAFEMA).

Since only one bid has been received, the authorities will decide within a week whether to accept ...