Wednesday, 2 August 2023 Noted art director Nitin Chandrakant Desai, known for his work on films such as Lagaan and Devdas, has died in a suspected suicide. His company, ND's Art World, had been struggling with repayments on two ECL Finance loans it had taken out in 2016 and 2018 worth a combined INR185 crore ($25m). The company had defaulted on its loans by March 2021 and owed INR252.48 crore as of June 2022. A request for an insolvency resolution process had been approved in July 2022.
Nitin Desai, a four-time National Award winner for Best Art Direction, was found dead at his ND Studio in Karjat. Please watch the video to know the details.
#NitinDesai #RIP #NitinChandrakantDesai
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Senior officials from Edelweiss, accused of abetting the suicide of renowned art director Nitin Desai, stated in court that Desai had begun delaying his loan... Mid-Day
The art director Nitin Desai had defaulted on a Rs 252-crore loan to its financial creditor, and a bankruptcy court admitted an insolvency petition against his... DNA Also reported by •Bollywood Life •Mid-Day
Stating that it followed all legal processes mandated by the RBI, the Asset Reconstruction Company also clarified that Nitin Desai, who had defaulted on a Rs 252... Mid-Day
Wednesday, 2 August 2023
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