Nitin Desai's death by suicide caused by Rs. 252 Cr. default?

PUBLISHED DATE : 02/Aug/2023

Nitin Desai's death by suicide caused by Rs. 252 Cr. default?

Four-time National award winning art director/ production designer Nitin Chandrakant Desai has died at 57. Desai has prominently worked on movies like Jodhaa Akbar (2008), Hum Dil De Chuke Sanam (1999), Devdas (2002) and the Oscar-nominated Lagaan (2001), and his death prima facie was ruled out to be a suicide by Maharashtra police, after finding the dead body at ND Studios in Karjat. 


Nitin  Desai's company ND's Art World Pvt Ltd was in the middle of a loan default negotiation with Edelweiss Asset Reconstruction Company over ND Studios, which famously served as the set of the Jodhaa Akbar film starring Hrithik Roshan, Aishwarya Rai Bachchan. The total default amount as on June 30, 2022 is said to have been Rs. 252.48 Cr.  

"I used to often speak and counsel him. I had told him on how Amitabh Bachchan had faced immense losses and come back in life again. We had told him that even if the studio was attached due to loans, he could start afresh. It's very sad to hear about his death. I spoke to him day before." - Nitin Desai's close friend and BJP general secretary Vinod Tawde


A few months ago the financial creditors who had originally loaned Rs. 185 Cr. had approached the Raigad district authorities to take possession of the ND Studio. In 2021, ND Studio was set ablaze due to a rookie fire accident resulting in loss of property, and the creditors had infamously sent a recovery notice on the same day. 


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