Nitin Desai dies by suicide at ND Studio in Karjat, was under financial crises debt of 252 crore

Famous Indian art director Nitin Desai, 58, was discovered dead on Wednesday morning at his ND Studio in Karjat, around 80 kilometres outside of Mumbai. According to authorities, Desai was discovered hanging from a rope at a studio stage in the morning. At Khalapur police station, an accidental death report (ADR) was filed.

The studio’s personnel allegedly observed that Desai was hanging and immediately called the police.

The body has been taken to Sir J.J. Hospital for postmortem because the case is sensitive and the postmortem must be performed in front of a panel of qualified medical professionals and forensic experts, according to Raigad police. The studio in Karjat was not used for filming for a considerable amount of time, according to the preliminary inquiry, according to the police.

Additionally, it has been revealed that investigators discovered a voicemail left by Desai, in which it is believed that he mentioned four people. However, because the information was provided for a forensic investigation, the Khalapur police declined to divulge it.

According to police sources, Nitin Desai may have committed suicide as a result of financial difficulties. Notably, on July 25, the Mumbai branch of the National Company Law Tribunal (NCLT) issued a decision directing the “initiation of Corporate Insolvency Resolution Process (CIRP)” against Nitin Desai’s, ND’s Art World Private Limited.

According to our sources, Nitin Desai obtained a loan from CFM Finance for Rs 181 crore. Arrangements for the loans were signed in 2016 and 2018.

The petition was initially brought by financial creditor CFM Asset Reconstruction Private Limited against corporate debtor ND’s Art World Private Limited for unpaid debt of Rs 252.48 crore, according to the NCLT judgement.

The debt was subsequently transferred to M/s Edelweiss Asset Reconstruction Company Limited in 2020, though.

Four National Awards for Best Art Direction were given to Nitin Desai. Over the course of his two decades in Bollywood, he has collaborated with well-known filmmakers like Ashutosh Gowarikar, Vidhu Vinod Chopra, and Sanjay Leela Bhansali.  He also created the sets for Kaun Banega Crorepati and Slumdog Millionaire. Lagaan, Jodha Akbar, Munnabhai M.B.B.S., and Lage Raho Munna Bhai were some of the most well-known Bollywood films for which he worked.

The final Desai rites will be done on Friday at the Karjat studio, according to information received.

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