Nitin Desai death: Art director’s wife files police case against creditor ECL Finance’s employees

Posted By: Shweta Khandal

Posted On: August 5, 2023

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The police in Raigad, Maharashtra, took action against five people, including officials from Edelweiss Group and ECL Finance, for supposedly encouraging the suicide of art director Nitin Desai.

Nitin Desai’s wife, Neha Desai, filed a complaint, leading to the registration of a First Information Report (FIR) at Khalapur police station.

The complaint mentioned that Nitin Desai was experiencing constant mental harassment because of the loans his company had taken, which ultimately led him to take his own life by hanging himself at his studio in Karjat, Raigad district.

Nitin Desai was known for his work in famous Bollywood films like “Lagaan” and “Jodhaa Akbar.”

His company was not able to pay back a loan of Rs 252 crore to the people or organizations it owed money. Because of this, the Mumbai bench of the National Company Law Tribunal started taking legal action to resolve the financial situation of the company.

Nitin Desai’s company, ND’s Art World Pvt Ltd, borrowed a total of Rs 185 crore in two separate loans from ECL Finance in 2016 and 2018.

They began having problems repaying the loans starting in January 2020. ECL Finance is a part of the Edelweiss Group that deals with financial services.

Nitin Desai, who was a talented art director and had won a National Award, passed away at the age of 57. His funeral took place at his studio in Karjat, Raigad district, with his family and colleagues present.

He was found dead on the premises of his studio in Karjat on Wednesday morning.

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