PNB scam: Nirav Modi's plush bungalow razed near Mumbai
Mumbai, Mar 8 (UNI) The sprawling bungalow owned by Nirav Modi, a prime accused in the Rs 14,000-crore Punjab National Bank (PNB) fraud, was razed to ground on Friday, an official source.
Facing the Kihim beach in the Alibaug town adjoining Mumbai, the process to demolish the 33,000 sq feet bungalow started on January 25. However, due to the use of manually-operated equipment, the work was moving on a snail's pace.
Hence, it was decided to blow up the bungalow in a controlled blast, to save time as well as manpower, the source said.
The controlled blast has reduced the luxurious house to rubble and it will take several weeks to clear it.
The Enforcement Directorate (ED) attached his property, along with such others located elsewhere across Maharashtra and Gujarat, to make up for the economic loss incurred due to the PNB fraud.