Nitin Chandrakant Desai, a well-known art director who utilized his talent to add flair to Hindi movie sets, shocked everyone by taking his own life. On Wednesday morning, he hanged himself to death. A number of big-budget movies had sets created by Nitin Desai. Fans and celebrities wept upon his passing. A significant piece of information surrounding Nitin’s death has now surfaced. It was discovered that Nitin owed crores of dollars. Nitin Desai reportedly accepted death because he was worried by the financial crisis. A significant update on his suicide has just occurred. New research indicates that CFM banking institution loaned Rs 180 crore to Art Director Nitin Desai, 2016 and 2018 saw the signing of loan agreements.
For this loan, Nitin Desai had mortgaged a total of 42 acres of land. The loan recovery attempt by the CFAM corporation was unsuccessful. After that, CFM gave Edelweiss Asset Reconstruction the job of recovering all of its loan accounts. Edelweiss Company made repeated attempts to collect the loan, but it was unsuccessful. In order to reclaim the mortgaged land, the firm actually seized the property and requested authorization to proceed under the SARFAESI Act. This suggestion was made in September of last year, and nothing has changed. The NCTL court has received this petition from the Edelweiss firm. A hearing about debt recovery was place at NCTL court. The court has approved the debt collection procedure. Order was delivered on July 25. Edelweiss also sent a letter to the collector requesting that the property be taken.
In his studio, there were around 150 workers at work. He continued to pay his staff on a regular basis. It became clear that there had been a significant investment in him when we first met. He had several issues from the bank’s side even earlier. He has made a large financial investment in starting ND Studio. His studio had been idle for the previous two to three years. Since Covid, he had been continuously losing. A large property with 10-15 phases makes it impossible for one or two shots to be successful. ND Studio was his ideal undertaking. He had also done a lot of preliminary planning. Despite the fact that he had spent a lot on it, it was impossible to get it back.
Only Salman Khan’s movies used to be filmed there for a while. Karjat used to be rather far. Many production companies were reluctant to venture there in such an environment. In the studio, there are 15 sets. They’re all much bigger than life. In his business, there were several expenditures. Nothing was lacking on the set, but since the expected financial gains never materialized, they were constantly losing money. He’ll owe something in the range of crores. He had married his daughter in the past. He had said in our conversation that finding a funder is essential in order to avoid the debt continuing to rise.
Hanged in ND studio
Unexpectedly, Nitin Desai killed himself at his renowned ND studio. Police sources claim that Nitin Desai entered his room yesterday night at 10 o’clock. This morning, he took a while to emerge. His bodyguard and others then rapped on the door, but nobody answered. Nitin Desai’s corpse was discovered hanging from the fan when it was seen from the window, at which point the police were alerted. The corpse was retrieved by the police, who subsequently submitted it for an autopsy.
Who was Nitin Desai?
On August 9, Nitin Desai would become 58 years old. He was 57 years old at the time. But owing to a lack of money, he killed himself a few days before his birthday. Nitin Desai made a notable contribution to the realm of film. Innumerable blockbuster Hindi and Marathi movies, such as Hum Dil De Chuke Sanam, Mission Kashmir, Raju Chacha, Devdas, Jodha Akbar, Lagaan, and Bajirao Mastani, featured his breathtaking sets. Additionally, Nitin Desai received the National Award for Best Art Director four times. He has won the Filmfare Based Art Direction Award three times in addition to this. Several of his films received Screen and IFA Awards as well. The death of Nitin Desai has stunned the whole Bollywood industry. Hema Malini, Riteish Deshmukh, Parineeti Chopra, and all the other celebrities and admirers are remembering Nitin with teary eyes. Everyone’s face is silent, and their eyes are filled with tears.
There are two reasons for the suicide
One is a financial catastrophe, the other is a health issue. This hasn’t been verified yet, however. Mahesh Baldi, a Maharashtra MLA, said that he was experiencing financial difficulties. This, according to him, could have contributed to his suicide. worked nonstop on the first project set for 13 days and 13 nights. With the television program “Tamas,” Nitin launched his career in 1987. He spent 13 days and 13 nights on the same set. He had previously said in an interview that at the time, even if he had gone to take a 15-minute bath, he felt as like he was squandering his time.
Nitin’s documentary was coming soon
‘Breaking the Fourth Wall on Nitin Desai’ is the title of Nitin’s documentary. For this documentary, strong personalities like Anil Mehta, Paresh Mokashi, and Sanjay Leela Bhansali were interviewed. These individuals have all divulged particular information about Desai. In three of Bhansali’s major motion pictures, Nitin Desai served as an art director. The interview with Bhansali was supposed to be recorded at ND Studio. The documentary was currently being filmed.