Nirav Modi's beach-facing bungalow in Alibaug to be erased today

Mumbai: The demolition of fugitive jeweller Nirav Modi's illegal bungalow built along the beach at Alibaug in adjoining Raigad district will be erased on Friday.

The Raigad sub-divisional administration has begun organising heavy machinery to carry out the demolition. Once started, it will take atleast 4 days to complete the demolition.

ED has handed the documents over to Raigad collectorate for stripping the property of all its valuables. Earlier, ED had attached the bungalow in Rs 13,000 crore PNB fraud case. The bungalow was declared illegal by the collector’s office following an investigation.

As per previous reports, the 1.5-acre farmhouse in the uber-rich neighbourhood was purchased by the jeweller in 2004 for Rs 32 crore for hosting special parties for his clientele to showcase his precious jewellery collection.

The expansive farmhouse, located about 100 km by road from Mumbai in Raigad district also has a 12,000 sq ft bungalow with five bedrooms, a large swimming pool, a movie theatre and a library, PTI had earlier reported.

Modi, a key accused in the USD 2 billion Punjab National Bank fraud case, has fled the country.