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Art director Nitin Desai, beset by financial strife, found dead in his studio
A week before his death, the Mumbai bench of the National Company Law Tribunal had ordered initiation of Corporate Insolvency Resolution Process or bankruptcy proceedings against Desai’s company ND’s Art World Pvt Ltd
Karjat: National Award-winning art director Nitin Chandrakant Desai, who has worked in several Bollywood blockbusters including Lagaan, Devdas and Jodhaa Akbar, was found hanging in the main hall at his ND Studio in Karjat on Wednesday morning. He was 57.
Police did not reveal if a suicide note was found although unconfirmed reports said Desai had made an audio recording in his mobile phone before allegedly committing suicide.
While police did not say what led Desai to take the extreme step, the art director seemed to be in financial distress over paying off a ₹252-crore loan.
A week before his death, the Mumbai bench of the National Company Law Tribunal had ordered initiation of Corporate Insolvency Resolution Process or bankruptcy proceedings against Desai’s company ND’s Art World Pvt Ltd. The order came on a Company Petition filed by Edelweiss Asset Reconstruction Company Limited after Desai’s company failed to repay loan amount of ₹252 crore.
Raigad Collector Yogesh Mhase confirmed that lender Edelweiss had mooted a proposal to attach Desai’s assets. “Some time last year, Edelweiss had sent a proposal to attach the properties under SARFAESI Act 2002 as the borrower had become a Non Performing Asset (NPA) due to default in payment. The proposal is still pending as there is a process to be followed which involves the tahsildar and various other offices. With the death of the person, the entire proposal will have to be reassessed on whether attachment can be undertaken or not.”
Raigad Superintendent of Police Somnath Gharge said an Accidental Death Report (ADR) has been lodged at Khalapur police station. Forensic and finger printing experts have been called in to assist the investigation. “We have seized all electronic devices including his mobile phones and investigations are on. We have recorded the statements of his employees including his driver, attendants and caretakers,” said Gharge outside the studio.
His body has been sent to JJ Hospital for post-mortem. “His family has told us that his last rites would be held at ND Studios, and whenever they inform us, we will make arrangements accordingly,” said Gharge.
Film-maker Ashutosh Gowariker, director of Aamir Khan-produced Lagaan who has also worked with Desai on his other period films like Jodhaa Akbar and Panipat, visited the studio after the incident.
Local BJP MLA from Uran Mahesh Baldi spoke about the financial distress Desai was under. “I had spoken to him two months ago, and he said the studio was not getting any business. He was hopeful that after the monsoon is over, the film shoots would restart at the studio,” Baldi said.
The studio in Karjat, spread across 52 acres, opened in 2005 to the film industry. A Bollywood theme park in the studio was opened to the public in 2018.
Chief Minister Eknath Shinde, Culture Minister Sudhir Mungantiwar, NCP president Sharad Pawar and Shiv Sena (UBT) leader Aaditya Thackeray besides film industry personalities expressed shock and grief over Desai’s death.
Shinde, in a tweet, said the art director’s death was shocking and unfortunate. “For me personally and for the film industry it is a very painful day,” said the CM. Shinde recalled Desai’s association with the Tembhi Naka Navratri Utsav in Thane city, the political turf of the CM, and said there was always an excitement for what he created every year.
Sharad Pawar said with Desai’s demise, the state has lost a great Marathi entrepreneur with a penchant for innovation and willingness to work hard.
