Noted art director Nitin Chandrakant Desai’s sudden passing has come as a shock to everyone, as he was found dead at his studio in Maharashtra’s Raigad district by his employees on Wednesday morning. As the investigation of the matter is ongoing, MLA Mahesh Baldi revealed during the media interaction that Desai was under a lot of financial stress, because of which he must have committed suicide in his own studio.
Speaking to ANI about the unfortunate demise of the renowned production designer, the MLA mentioned having met him around a month ago. Additionally, he indicated that financial difficulties seemed to be the probable cause of his suicide. The MLA further explained that, despite being promised new movie projects, it looked like only TV shows were being shot at ND studios, which may not have strengthened his condition.
According to a Hindustan Times report, Nitin had defaulted on a ₹252-crore loan to its finalcial creditor, and the bankruptcy court had admitted an insolvency petition against his company last week.
The reports further revealed that Desia’s company, ND’s Art World Pvt. Ltd., had borrowed ₹185 crore through two loans from ECL Finance in 2016 and 2018, and troubles with repayments started coming in January 2020.
Also read: Lagaan And Jodhaa Akbar’s Art Director Nitin Desai Dies By Suicide