In a latest development in the Nitin Desai suicide case, the Managing Direct and Chief Executive Officer (CEO) of Edelweiss Asset Reconstruction Company (ARC) Ltd., Raj Kumar Bansal along with its Chairman Rashesh Shah have filed a petition in the Bombay High Court (HC), to seek to quash an FIR lodged against them for abetment to suicide of the companys Art Director Nitin Desai.Edelweiss ARC top officials move to Bombay HC over Nitin Desai suicide caseAfter the Desais demise, his wife Naina Desai lodged an FIR (First Investigation Report) against the two top officials and also has been made a respondent in the two petitions filed by Bansal and Shah. Notably, the petitions aim to invoke the jurisdiction of the HC and as an interim relief, seek no coercive action by the police. Further, the petitions also seek a stay of the probe into this suicide case.Days after Desais death, where on August 02 he was found dead at his ND Studio in Khalapur Raigad near Karjat. Allegedly, the art director died by suicide, purportedly due to financial stress. The four-time National Award-winning art director had been facing a lack of work since the start of the pandemic Covid-19 and allegedly it was difficult for him to repay the loan of ₹181 crore he had taken.According to the Desai familys claims, the loans were taken from the company, Edelweiss (ARC) between 2016 to 2018 and the deceased had paid a part of the repayment.Bandal, Shah pressured Nitin to recover outstanding loan When his death came to light, the Raigad police converted the Accidental Death Report into an FIR and a probe was initiated. The complaint alleged that the two accused had pressured Desai to recover an outstanding loan and attempted to take over his ND Film World Studio in Karjat amid the loan default.The FIR was registered against the duo and interim resolution professional (IRP) Jitender Kothari. Kothari was appointed by the National Company Law Tribunal (NCLT) in Mumbai as the IRP after initiating a corporate insolvency resolution process (CIRP) against Desais company, NDs Art World Pvt Ltd.Investigation is onDuring the investigation, the police recorded around 10 statements from the witnesses rill now and issued several summon to Bansal and Shah to appear before them.Despite everything, the duo immediately approached the Bombay HC, stating that they could not have been abetment to suicide when they were merely following the legal process for the loan recovery.Taking notes from the situation, the petitions are likely to be heard this week, no dates have been disclosed yet.
