Home Business Tragedy Strikes: Offence Registered Against Edelweiss Group Officials for Alleged Abetment of Art Director Nitin Desai’s Suicide

Tragedy Strikes: Offence Registered Against Edelweiss Group Officials for Alleged Abetment of Art Director Nitin Desai’s Suicide

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Tragedy Strikes: Offence Registered Against Edelweiss Group Officials for Alleged Abetment of Art Director Nitin Desai’s Suicide

In a distressing turn of events, the Raigad police in Maharashtra have taken action by filing a case against five individuals, including Edelweiss Group officials and its subsidiary ECL Finance, on charges of allegedly driving art director Nitin Desai to commit suicide. This grave matter led to the registration of a First Information Report (FIR) at the Khalapur police station under sections 306 (abetment of suicide) and 34 (common intention) of the Indian Penal Code. The complaint was lodged by Nitin Desai’s grieving wife, Neha Desai.

The heart-wrenching incident revolves around the untimely demise of Nitin Desai, a prominent figure in the world of art direction for acclaimed Bollywood movies such as ”Lagaan” and ”Jodhaa Akbar”. Tragically, he took his own life by hanging himself at his studio located in Karjat within the Raigad district.

According to the complaint, the deceased had been subjected to relentless mental anguish due to the financial struggles his company faced, stemming from loans that had been acquired. The complaint further asserts that the burden of these financial challenges pushed Nitin Desai to take the extreme step of ending his own life.

His company, ND’s Art World Pvt Ltd, found itself unable to fulfill a significant debt of Rs 252 crore to creditors. This dire situation prompted the Mumbai bench of the National Company Law Tribunal to initiate insolvency proceedings against the company.

Records reveal that ND’s Art World Pvt Ltd had previously borrowed a total of Rs 185 crore through two loans from ECL Finance in the years 2016 and 2018. However, the ordeal of repayment troubles began to plague the company starting in January 2020. ECL Finance, an affiliate of the Edelweiss Group, was the lending institution involved.

The final rites of Nitin Desai, a distinguished recipient of the National Award, were conducted on Friday at his Karjat studio, attended by family members and colleagues. The 57-year-old artist was discovered lifeless on the premises of his Karjat studio in the Raigad district on a fateful Wednesday morning.

This heartbreaking incident sheds light on the critical importance of addressing mental health and financial distress within our society. The Raigad police’s actions in registering the case underscore the need for greater awareness and support to prevent such unfortunate outcomes in the future.

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