Nitin Desai recording and funeral updates.
Famous Art Director Nitin Desai, hanged himself to death on 2nd August. His death came as a shock to the whole entertainment industry.
The reason for him committing suicide was unknown and investigation was going on.
There was a recording which was seized from Nitin Desai’s studio. In the clip it is heard that he is requesting the government not to seize his ND studio. He had blamed finance company Edelweiss ARC for his suicide. He also said in the recording how he got into trouble and faced mental problems because of the company. Nitin Desai was facing a huge debt of around 252 crores.
On 25th July, NCLT’s Mumbai bench, in its judgment, ordered an ‘initiation of Corporate Insolvency Resolution Process’ against Nitin Desai’s company, ND Studios.
Statement from Edelweiss ARC:
“We are deeply saddened by the demise of Shri Nitin Desai and express our deepest condolences to his family as they navigate through this difficult time. Regarding this development, the NCLT’s Mumbai bench, in its judgment, ordered an ‘initiation of Corporate Insolvency Resolution Process’ against Nitin Desai’s company, ND’s Art World Private Limited, on July 25, 2023. In the order, the bench also appointed Jitender Kothari as the interim resolution professional to carry out the steps mentioned under the Insolvency and Bankruptcy Code, 2016.
ND Art’s Appeal against this NCLT admission order in the NCLAT Principal Bench, New Delhi, was dismissed by its order on August 1, 2023. The loan of Rs. 150 crore was availed in November 2016, and an additional Rs. 35 crore was availed in February 2018 from ECL Finance. The account started defaulting in January 2020. The total outstanding dues amounted to Rs. 252 crore, for which the NCLT was petitioned in July 2022. We are committed to fully cooperating with all the relevant authorities. Our commitment to transparency, cooperation, and adherence to the legal process remains steadfast.”
Few days before committing suicide, he made an emotional appeal to the government by saying, “I built this studio after facing and overcoming many difficulties in life. There have been many ups and downs in life, successes and failures, I have digested it all. This is the biggest asset of my life. The government should save this studio, not for me or my family, but for the benefit of new artists, the government should take steps and take over the studio.”
According to ETimes a source from the studio informed them by saying, “It was planned properly by ND. Last night he took all the keys from the security and told his boy to leave him alone at the Studio as he has some important work to be done. ND came to see him off at the gate and asked him to come next morning around 8:30 am. He also asked him to see the recording which he said he will find in Studio No. 10. At night, on the sets of Marathi Pavool Padte Pudhe, Studio No. 10, he drew a bow and arrow with sutali (rope), he placed a ladder on the bow and arrow, and hung himself. In the recording, Desai has also mentioned not to take his ND Studios away from him. He also mentioned that his last rites should be performed at Studio no 10.
The last rites of Nitin Desai will be held at his own ND Studios. The mortal remains of Nitin Desai have been kept at the sets of the Jodhaa-Akbar in ND Studios.
Family members, close friends and well wishers will pay last respect to his mortal remains. After that mortal remains will be carried to a helipad in the studio, where the last rites will be performed. The funeral will take place at 4:00 pm.
Neha Desai (wife), his son and two daughters will be present during the last rites.
See the pics below from Nitin Desai’s last rites:
