Nitin Desai case: Loan firm, CEO to face the music
Relatives and friends of Desai at JJ hospital, where his post-mortem was conducted, on Wednesday night. Pic/Ashish Raje

Priyanka Kakodkar & Clara Lewis | TNN (THE TIMES OF INDIA; August 4, 2023)

Mumbai: Deputy CM Devendra Fadnavis told the state assembly on Thursday that the role of Edelweiss Asset Reconstruction Company would be probed in connection with the death of Bollywood art director Nitin Desai, report Priyanka Kakodkar and Clara Lewis. He owed the firm Rs 252 crore and had recently lost the case before the National Company Law Tribunal. BJP MLA Ashish Shelar had demanded the government probe the company’s role.

The Raigad police on Thursday sent 11 audio clips found after Desai’s death to a forensic lab to test for voice authenticity. The clips purportedly contain mention of names. Desai’s financial advisors have also been summoned for investigation.
---------------------------------------------------------------
Mumbai: BJP MLA Ashish Shelar on Thursday demanded the state government probe the role of Edelweiss ARC and chairman of the group Rashesh Shah in art director Nitin Desai’s death and alleged they were “modern money lenders”. He said he had details of two other cases involving the company and was ready to hand these over to the home minister.

“Shelar has raised some concerns about the ARC. That angle will also be addressed in the probe. It will examine whether some other kind of pressure was being put on Desai by ARC to gain control of his studio. Was he being forced?” deputy CM Devendra Fadnavis said on Thursday announcing a probe. He added, “It will examine whether he was being cheated and charged a rate of interest that was beyond the norm.” He said Desai had mortgaged his studio and was trying to pay off his debts.

Fadnavis also said, “A Marathi manoos had set up the studio. We will examine the legal position and see if the state can refurbish the studio or take it over to set up something in Desai’s memory.”

Earlier, Shelar alleged, “This is not the first such case involving Rashesh Shah and his company… The probe should not be limited to the suicide but should also examine the role of Edelweiss ARC, their interest rate, their manner of functioning and recovering loans. There is a fear that the common man will go towards suicide,” Shelar said.

He added, “I am speaking specifically about Rashesh Shah and this company. I have details of two other cases… A special team should be formed, if possible.” He said the probe was already examining an audio clip of a conversation between Desai and the company’s manager.

Congress’ Ashok Chavan supported the demand for a probe and said government should take over the studio “to pay homage to Desai.” “We should not allow the studio to be auctioned,” he said.

In the council, BJP’s Pravin Darekar demanded an investigation. He said, “About 3 months ago, he (Desai) had come to meet me at Vidhan Bhavan. He had taken a loan of Rs 150 crore. We held 2-3 meetings at our Mumbai Bank, but his account was already NPA. We could have helped him if it was a matter of Rs 10-15 crore and could have earned the blessing of having saved his life, but it was not to be. This regret will be with me,” he said.

Darekar said Desai had even met PM Narendra Modi and home minister Amit Shah and thereafter had got a huge contract in Rajasthan. “But the process for seizure had started and this Marathi manoos was disheartened,” he said.

He said he took Desai to CM Eknath Shinde and helped him get temporary relief for three months. But thereafter, there was pressure from ARC; Desai had been served notice for confiscation of the studio. “For someone who had risen from poverty, the thought that it (studio) could be seized had caused him restlessness. I had been trying to help him, met him a couple of times to find a way out, but for nearly 1-2 months I was not in touch with him and thought he had found a way out. The other day when I switched on the TV, I saw the news and I was stunned. The government must take over N D Studio and develop it further on the lines of Ramoji Studio. It should provide a platform for Marathi, Hindi artistes,” he said.

Voice clips sent to forensic lab; cremation at studio today
Navi Mumbai: Raigad police have sent 11 audio clips found after art director Nitin Desai’s death to a forensic lab to check for voice authenticity. The clips purportedly contain names. The financial advisors of Desai too have been summoned for investigation. The last rites of Desai will be held between 12 noon and 4 pm on Friday. He will be cremated inside the N D Studios, in keeping with his wish which he mentioned in an audio clip recovered by the police, said Raigad superintendent of p olice Somnath Gharge.

Several film personalities and TV artistes are expected to attend the funeral. In one of the audio clips, Desai apparently offers his “last respect to Lalbaugcha Raja” and in another he has purportedly said, “Taking (final) steps to g o towards Pandhari (Pandharpur).” Gharge said, “We have n ot kept any copy of the clips and have sent them to the lab. His cremation wish was recorded in one clip but not in any note or suicide note.” Umesh K Parida

Visitors turn up to look at sets
Mumbai: A stream of visitors on Thursday arrived at Nitin Desai’s studio, only to return dejected after learning about his death. N D Studios, also known as ND’s Film World, was founded by Desai in Karjat in 2005. Hundreds of tourists visit the studio every day to have a look at the grand sets. Unaware of Desai’s death, several visitors turned up on Thursday. However, they had to return as the studio has been closed from Wednesday morning.
- PTI
---------------------------------------------------------------
Home minister promises thorough probe into roles of Edelweiss CEO and his firm in connection with ace art director’s death; police to summon officials named in voice note
Anurag Kamble, Dharmendra Jore (MID-DAY; August 4, 2023)

The home minister on Thursday assured a probe into the roles of Edelweiss Group CEO Rashesh Shah and his financial firm in renowned art director Nitin Chandrakant Desai’s death allegedly by suicide. The Raigad police also said they will also be questioning Edelweiss ARC officials who have been accused by Desai, in a voice note, of trying to usurp his ND Studio.
 
The Raigad police, who are investigating the alleged suicide of renowned art director Nitin Chandrakant Desai, said they will be questioning officials of Edelweiss ARC, as the 57-year-old, in a voice note, has accused them of trying to usurp his ND Studio.

The art director left 11 voice notes, including one urging the state government to acquire the studio, according to sources in the Raigad police. A few notes were addressed to his family. In the longest voice note, which is of 20 minutes, he described his journey in the art world, his struggle and his dream and passion, a source in the Raigad police said.

In one clip, Desai, who was found hanging in his ND Studio on Wednesday, has accused a few officials of Edelweiss Asset Reconstruction Company (ARC) of usurping his ND Studio by pushing him to bankruptcy. After Desai failed to repay a loan, the Edelweiss Asset Reconstruction Company (ARC) approached the National Company Law Tribunal as well as the Raigad collector to seize 46-acre land, which comprised 90 per cent of his studio.

4-5 names in voice note
“We can’t say when these voice notes were recorded, because during the wee hours of Wednesday, Desai handed the recorder over to his assistant Yogesh Thakur. But he immediately took it back and asked Yogesh to collect it from his office around 8.30 am-9 am on Wednesday,” said a source.

“He has taken 4 to 5 names of the officials of Edelweiss ARC and objected to their process and questioned their functioning. He alleged the company, rather than helping him reconstruct his loan or getting out of debt, pushed him towards bankruptcy,” said another officer. Desai had instructed Yogesh to transfer the voice notes to his phone through the computer in his office, and WhatsApp them to his sister and his lawyer.

“Based on the voice notes, we will summon the officials named by Desai for questioning. So far there is no complaint or application from Desai’s family. If they do file one, we will register an FIR,” said a senior officer. In a statement sent to mid-day on Thursday, Edelweiss ARC said, “We are committed to fully cooperating with all the relevant authorities. Our commitment to transparency, cooperation, and adherence to the legal process remains steadfast.”

Took a stroll
On Tuesday, Desai arrived from New Delhi and went to ND Studio, where he offered prayers at the temple. “He then took a stroll on the property, and visited all the sets,” Yogesh said in his police statement.

“Then, he asked me to get the key to the main studio floor, which is hardly 100 meters from the office. He then asked me to open the door and switch on the lights. A rope was hanging at the centre and there was a ladder nearby. I didn’t suspect anything, as he had already told us a couple of months back that the rope was there for vastu reasons. After checking the rope, Desai left for bungalow No. 2 and took the key with him,”  Yogesh stated. 

Raigad cops, who have registered an accidental death report, have secured CCTV camera footage of the studio. “The suicide must have happened between 4 am and 6 am, because footage of him walking towards the main studio floor is of around 4 am,” said another source.

Death by hanging
His post-mortem examination was conducted at JJ hospital by an expert panel of four doctors. The report mentions the cause of his death as ‘asphyxia, due to hanging’. His blood and viscera samples have been kept reserved for further chemical analysis.