Nitin Desai death: 3 representatives of Edelweiss Group appear before police

Three representatives of ECL Finance Company/Edelweiss Group appeared before the Raigad police in Maharashtra on Tuesday in connection with their inquiry into the alleged suicide of film art director Nitin Desai, an official said.

Desai, 57, who had worked for acclaimed Bollywood films such as 'Lagaan' and 'Jodhaa Akbar', was found hanging at his studio at Karjat in Raigad district on August 2.

The police on August 4 registered a criminal case against five persons, including Edelweiss Group chairman Rashesh Shah, for alleged abetment of Desai's suicide.

On August 5, the Raigad police issued notice to the ECL Finance Company/Edelweiss Group MD seeking personal appearance on Tuesday.

Accordingly, three representatives of the company appeared before the police at Khalapur police station at around 11 am and the process of recording their statements was on, the official said.

The Raigad police has sought related documents and information about the case.

The investigation officer in the case is collecting the information from the advisor, financial advisor and accountant of ND Studio, set up by late Desai, police earlier said.

Desai's company ND's Art World Pvt Ltd had defaulted on a Rs 252 crore loan repayment to creditors and the Mumbai bench of the National Company Law Tribunal had initiated insolvency proceedings against it.

A First Information Report was registered on August 4 under Indian Penal Code sections 306 (abetment of suicide) and 34 (common intention) at Khalapur police station based on a complaint filed by Nitin Desai's wife Neha Desai, an official had said.

The FIR named Edelweiss chairman Rashesh Shah, company official Smit Shah, another person named Keur Mehta, R K Bansal of Edelweiss Asset Reconstruction Company, and Jitender Kothari who has been appointed by the NCLT as an interim resolution professional.

Edelweiss ARC, in a statement, had denied that any undue pressure was put on Desai for loan recovery.