SHOCKING! Nitin Desai Suicide Case: ECL Finance Company MD And 3 Officials Grilled For 8 Hours By Raigad Police! (Details Inside)
ECL Finance Company officials, including the MD, were questioned by Raigad police over incomplete loan-related documents. Read on to know more.
BollywoodMDB Team | Updated On: Aug 9, 2023 03:51 PM IST
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Raigad police in Maharashtra questioned the MD of ECL Finance Company and three other officials for about eight hours about the possible suicide of film art director Nitin Desai. The police said that the loan papers that ECL officials gave them were not complete, so they asked them to come back to the Khalapur police station on August 11.
The information they gave about the case was also not very detailed. Nitin Desai, who worked on Bollywood films like 'Lagaan' and 'Jodhaa Akbar,' was found hanging on 2 August at his Karjat studio in the Raigad area.
After this, on August 4, the police started a criminal case against five people, including the head of Edelweiss Group, Rashesh Shah, for reportedly helping Desai commit suicide.
The Raigad cops sent a notice to the MD of ECL Finance Company/Edelweiss Group on August 5 asking them to come in for questioning. So, Phanindranath Kakarla, the head of the ECL company, and three other officials showed up at the Khalapur police station the next morning. The cops looked at the papers they brought about the loan and questioned them from 10:30 AM to 6:30 PM.
But the police found that the documents about the loan given to Desai's company were not full and that there wasn't enough information about the case. So, the ECL officials were told to come back on August 11 with a full set of papers and information about everything.
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The person in charge of the case is talking to advisors, financial experts, and the accountant of Nitin Desai's company, ND Studio, to find out more about what happened. His company, ND's Art World Pvt Ltd, didn't pay back a loan of Rs 252 crore to creditors, so the Mumbai bench of the National Company Law Tribunal started bankruptcy proceedings against it.
