Nitin Desai death: Noted art director had huge debt of Rs 180 crores; Know details
By Vrinda Mundara | First Published Aug 2, 2023, 3:21 PM ISTNitin Desai passed away on August 2 in Karjat. It has now come to the forefront that the late art director had taken a loan of Rs 180 crores from a finance company and had even mortgaged his properties and land under his name.
Art director Nitin Desai was found dead today in his ND Studio in Khalapur Raigarh near Karjat. The news has sent shockwaves across the industry. Desai had died by suicide, allegedly because of the financial crisis. Now, fresh details in the case have come forward. According to sources of a leading Indian television news portal, Nitin Desai had taken a loan of Rs 180 crores from a finance company. He had also mortgaged his land and other properties. The art director could not pay off the loans and was in debt. The financial crisis was going on for many days now and unable to bear it, the art director committed suicide.
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In September 2022, the company wrote a letter to the collector and proposed to recover the money that Desai had taken from them. Earlier, the local BJP MLA from Karjat, Mahesh Baldi, confirmed that Nitin Desai died by suicide due to a financial crisis. Baldi said, "Nitin Desai's ND studio comes in my constituency. The financial crisis was going on for many days. Due to that, he committed suicide in ND studio this morning."
Meanwhile, Somnath Gharge, Superintendent of Police, Raigad, said, "We are investigating from all angles." Nitin Desai died by suicide at 4:30 am on August 2, just a few days before his 58th birthday. He was known for designing lavish sets for blockbuster films such as 'Hum Dil De Chuke Sanam', 'Devdas', 'Jodha Akbar', and 'Lagaan'.
During his career spanning 20 years, Nitin has worked with directors like Ashutosh Gowarikar, Vidhu Vinod Chopra, Rajkumar Hirani and Sanjay Leela Bhansali. In 2002, he turned film producer with Chandrakant Productions Desh Devi, a devotional film on the Devi Mata of Kutch. In 2005, he opened his ND Studios spread over 52 acres at Karjat, near Mumbai, which has since hosted movies like Jodha Akbar, Traffic Signal, and the popular reality show Bigg Boss.
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