Raigad cops issue notice to Edelweiss Group MD for appearance on Aug 8

Raigad police in Maharashtra investigating the alleged suicide of film art director Nitin Desai on Saturday issued notice to ECL Finance CompanyEdelweiss Group MD seeking personal appearance on Tuesday an official saidA day before police registered a criminal case against five persons including Edelweiss Group chairman Rashesh Shah for alleged abetment of Desais suicideDesai 57 who had worked for acclaimed Bollywood films such as Lagaan and Jodhaa Akbar was found hanging at his studio at Karjat in Raigad district on WednesdayPolice have so far recorded statements of 15 witnesses the official said on SaturdayA notice has been issued to ECL Finance CompanyEdelweiss Group MD They have to remain present at Khalapur police station on August 8 with related information the PRO saidRaigad Police has sought related documents and information about the caseThe investigation officer in the case is collecting the information from the advisor financial advisor and accountant of ND Studio set up by late Desai police saidDesais company NDs Art World Pvt Ltd had defaulted on a Rs 252 crore loan repayment to creditors and the Mumbai bench of the National Company Law Tribunal had initiated insolvency proceedings against itA First Information Report was registered on Friday under Indian Penal Code sections 306 abetment of suicide and 34 common intention at Khalapur police station based on a complaint filed by Desais wife Neha Desai an official had saidThe FIR named Edelweiss chairman Rashesh Shah company official Smit Shah another person named Keur Mehta R K Bansal of Edelweiss Asset Reconstruction Company and Jitender Kothari who has been appointed by the NCLT as an interim resolution professionalEdelweiss ARC in a statement had denied that any undue pressure was brought to bear on Desai for loan recoveryThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever