Raigarh police officials have registered a case against five in the suicide case of Bollywood art director Nitin Desai. An FIR has been registered against them based on a complaint by Nitin’s wife, Neha Desai. As per a report by news agency ANI, the police registered a case under Sections 306 (abetment to suicide) and 34 (common intention) of the Indian Penal Code (IPC) against five people including officials of ECL Finance Company and Edelweiss. Nitin Desai’s company had defaulted on a Rs 250 crore loan repayment to creditors.
As per a report by ANI, Neha Desai told police that Nitin Desai died by suicide due to mental pressure from the officials of ECl Finance Company and Edelweiss Group regarding debt recovery.
Nitin Desai’s funeral
The late art director’s last rites were held today at his studios in Karjat. It was attended by several celebrities from the Hindi and Marathi film industries including Aamir Khan, Ashutosh Gowarikar, and Sonali Kulkarni, among many others.
Edelweiss’ statement issued earlier today
“We are deeply saddened by the demise of Shri Nitin Desai and express our deepest condolences to his family as they navigate through this difficult time. Regarding this development, the NCLT’s Mumbai bench, in its judgement, ordered an ‘initiation of Corporate Insolvency Resolution Process’ against Nitin Desai’s company, ND’s Art World Private Limited, on July 25, 2023. In the order, the bench also appointed Jitender Kothari as the interim resolution professional to carry out the steps mentioned under the Insolvency and Bankruptcy Code, 2016,” the statement reads.
The company also stated that they are committed to fully cooperating with all the relevant authorities. ”Our commitment to transparency, cooperation, and adherence to the legal process remains steadfast,” they added.
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